Real Reality
Joined: 10 Jan 2003
Location: Seoul
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 Posted: Mon May 24, 2004 4:31 pm Post subject: "Should I Change into Dollars...?" |
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"Let's first exchange and then see."
As the high oil price and sluggish economy are further spreading the troubling sense of discomfort, the "foreign exchange-holding boom" is taking place again among some parts of the rich and middle class. The feelings of uneasiness is hinting that the "dollar buy-out," rampant during the financial crisis, might be brought back. Mr. A, a 30-year-old foreign investment bank employee, goes to his bank every pay day. He exchanges all the money except the living expenses into dollars and makes a deposit. According to the Bank of Korea, the residents' foreign exchange accounts reached $19,140 million as of April 15, which is the highest amount ever. The percentage of personal owners, not corporate, with this type of account was 19 percent in 2002, 29 percent in 2003, and 30 percent this March.
http://english.donga.com/srv/service.php3?biid=2004052571688
Which dollar?
Last edited by Real Reality on Mon May 24, 2004 4:35 pm; edited 1 time in total |
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