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Author Topic: Won to USD ratio  (Read 1441 times)

Offline Engrish

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Won to USD ratio
« on: September 18, 2012, 08:45:10 AM »
Due to the recent announcement of the iPhone 5 the Won has, since Sept 12th, dropped around 20 points.

This spells good news for American expats living in South Korea who want to start sending money home in preparation for their departure in March.

However, the iPhone 5 has only been announced, not released. My momma taught me to never catch a falling knife, but has this knife already stuck itself in the ground? Do you think the Won will drop even more points on Sept 21st (scheduled release date of the iPhone 5)?

P.S. This is all my speculation, the Won (Samsung) may or may not have anything to do with the iPhone 5. Still the question remains: to exchange or not to exchange?

source: http://www.xe.com/ucc/convert/?Amount=1&From=USD&To=KRW
« Last Edit: September 18, 2012, 08:48:31 AM by Engrish »

Offline taeyang

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Re: Won to USD ratio
« Reply #1 on: September 18, 2012, 08:54:00 AM »
i find it very hard to believe that the announcement of a phone could have that much effect over two major world economies.
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Offline MasanMan

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Re: Won to USD ratio
« Reply #2 on: September 18, 2012, 09:32:37 AM »
I was getting excited until I realized you meant 20 won not 20 points. I am just about to exchange a good chunk of change and 20 points would have been fantastic. :(

Offline thunderlips

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Re: Won to USD ratio
« Reply #3 on: September 18, 2012, 09:54:57 AM »
i'd be more concerned with a new devaluation to make their exports more competitive.  as what happened in 2009

http://www.xe.com/currencycharts/?from=USD&to=KRW&view=5Y

Offline CunningLinguist

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Re: Won to USD ratio
« Reply #4 on: September 18, 2012, 10:03:33 AM »
Your reasoning is 100% wrong OP. The US announced QE3 last week. That is what caused the US Dollar to weaken. And it will continue to weaken until QE ends.

Offline JeremyC

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Re: Won to USD ratio
« Reply #5 on: September 23, 2012, 11:05:11 AM »
Your reasoning is 100% wrong OP. The US announced QE3 last week. That is what caused the US Dollar to weaken. And it will continue to weaken until QE ends.

QE3 is open-ended so no reason to think it's going to end anytime soon. The US needs a weaker currency to make it more competitive for manufacturing; if I wanted to change currency from WON to USD I'd change some now and leave some for when rates are better.
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