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swoodman
Joined: 24 Sep 2009
Location: Reading, United Kingdom
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 Posted: Wed Nov 09, 2011 5:19 pm Post subject: Should I move my KRW to Pounds now? |
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| Anyone know anything about economic predictions for Korea at the moment? I saw something today saying my own country (UK) has a 70 per cent chance of another recession... what about Korea? The won's been doing some strange things lately so wondering if people thought I should change my money now. (I'm no longer there) |
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tran.huongthu
Joined: 23 May 2011
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| Posted: Wed Nov 09, 2011 6:17 pm Post subject: Re: Should I move my KRW to Pounds now? |
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| swoodman wrote: |
| Anyone know anything about economic predictions for Korea at the moment? I saw something today saying my own country (UK) has a 70 per cent chance of another recession... what about Korea? The won's been doing some strange things lately so wondering if people thought I should change my money now. (I'm no longer there) |
Things don't look good right now in the Eurozone and that is putting it nicely. Any uncertainty and problems in the world economy leads to investors immediately pulling their money out of risky places like Korea. This leads to the Won tanking.
Of course there is always print print print and that means the markets go way up, Eurozone is saved briefly and the Won is safe for a bit.
Personally I have been steadily moving money to the US knowing that I have about 20,000 invested in KRW with my severance and pensions bonuses anyways. I wouldn't want to be solely holding pounds or KRW at the moment really. |
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uklathemock
Joined: 26 Dec 2009
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| Posted: Wed Nov 09, 2011 6:50 pm Post subject: Re: Should I move my KRW to Pounds now? |
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| swoodman wrote: |
| Anyone know anything about economic predictions for Korea at the moment? I saw something today saying my own country (UK) has a 70 per cent chance of another recession... what about Korea? The won's been doing some strange things lately so wondering if people thought I should change my money now. (I'm no longer there) |
Korean banks have a decent amount of exposure to Europe's debt. Sterling or U.S. dollars will be a lot safer. |
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Vimfuego
Joined: 10 Apr 2009
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| Posted: Thu Nov 10, 2011 5:02 am Post subject: |
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| it's worth thinking about the interest rates at the moment. In the UK you'd be lucky to get 2% whereas in Korea you can still get 4-5%. |
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