Dollar for Won Exchange Rate Plunging
The exchange rate for dollars to Korean won (W) continues to fall. This is bad news for anyone going to Korea as the value for their dollar is considerably lessened. When I went to Korea in 2004, the exchange rate was a healthy 1,200 W per $1 US. Now it is at 932 W per $1 US! So if you exchange $100 US, that would be a difference of 26,800 W! That's enough money to buy 4-5 meals!
I really hope the exchange rate bounces back up before I plan to go in the fall.
I really hope the exchange rate bounces back up before I plan to go in the fall.
posted by Myong Choi at 9:37 AM
1 Comments:
4-5 meals - where McDonalds? BTW, that's an interesting way to put the change in exchange rate. Here's an idea: You can invest in a South Korean fund or ETF, like EWY, to hedge against the dollar, which seems to be going into a tail spin. Plus, you own some Samsung, Hyundai, LG, etc.
http://finance.yahoo.com/q?s=ewy
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