Korean Job Discussion Forums

[Cheonmunka]

Been doing a bit of research on it. Right now we're taking a double wammy. KRW to USD is down. NZD - USD is way up.
Oulook for Aug. 2010 KRW-USD is exactly as it is now, about 1300 won to dollar.
NZD however is over invested in. The RBNZ and others are interested in getting it down. Overseas investors are flooding it along with the AUD. NZ kind of encouraged it but the outlook is for NZD down against the US to an historic average of 59-63 cents by Aug. 2010.

At least that'll be better than what it is now, but won't take us to 500 won for an NZdollar levels of a decade ago.

What do yah all reckon?

As for me I've postponed my remittances until next year.

[Hightop]

All I know is that this 850 won to the NZD is killing me right now. I thought last year when it was moving in the 770-800 range it was bad then in early 2009 it cooled to about 730 for a short time but then it did not drop again. When Roh Mu Hyun killed himself and the Nth launched its rockets it pushed past 800 and had been shooting up ever since. I remember in the summer of 2006 it dropped to around 580 won to the NZD and one poster posted something along the lines of 'any Kiwi with money in Korea send it all back now as it will not be this low again' I wish he/she was wrong.

[itaewonguy]

[Hightop]

No, I wish he was wrong in saying that it would not be as low as that again. In the summer of 2006 I had no money to send back.