Korean Job Discussion Forums

[RnH]

Hi there,

We have been watching the exchange rate USD/KRW for a while and it's become much more favourable over the past few weeks - down to 1160..but today's it's shot up again. We are leaving in November and need to take all our money out of the country by then - all you economists out there - do you think we should wait or cash today?

Thanks!

[akcrono]

I'm still seeing 1160, which is ok. If you have til november, wait. It should be better sometime over the next 3 months

[vitald]

Yeah, as long as North Korea doesn't do anything stupid, or the South and the US militaries keep their cool. If it wasn't for the North, I'd say the stability would help the won appreciate. But the North is still here and on a perpetual Napoleon complex.

[Lee Myung Bak]

The Fundamentals are strong for it to continue to become more favorable in the months ahead. With that said everyone knows the currency market is legal gambling.

To play it safe, and especially if you are sitting on stacks of Won, you should hedge your holdings. Change some this this week. Again in Sept, Oct, and before you leave. you will get a near 3 month moving average.

You could get more $$$ if you wait, but you could also get way less. It depends on how much you want to gamble. What if the NORKS peform a missile/nuke test the week before you leave? and the won losses 10% in a few days, as we have seen happen before. Or if another debt crisis arises in Europe, you could also lose big-time. A weaker Euro=a weaker won.

Also, you get a more favorable rate by transferring money to a home account, rather than buying cash. So that too is recommended.

[Milwaukiedave]

Wait awhile....

[SeoulNate]

[Daniel1981]

Can't be a bad idea to hedge with some US.. Whenever people don't hedge they seem to always regret it.

[Milwaukiedave]

[RnH]

Hi everyone,

Thanks so much for your replies! Well, it seems we should have changed yesterday because the rate is up to 1176!! Argh! So we're off to the bank to change a portion of our money before this gets any worse.

Thanks again!