Have you notice recently, the Won was taken off the Exchange list?


It is starting to fall back to the Asian Foreign currency crisis in 1997. The won has actually risen against the US dollars last couple of months back, it broke the 1000 Won barrier to less than 980 Won to 1 US Dollar.


However since the Credit Crunch and the US Subprime Mortagage loan bad debts and House foreclosures, the Won took strong beatings and gone back to its former position to more than 1000 Won to the Greenback.


Investment banks in South Korea must have taken hugh chunks of the credits to the housing loan market in the United States, and the fall of the Leyman Brothers must have been the straw that broke the camel's back.


Joy

Quoting from [James 007]:


Have you notice recently, the Won was taken off the Exchange list?



It is starting to fall back to the Asian Foreign currency crisis in 1997. The won has actually risen against the US dollars last couple of months back, it broke the 1000 Won barrier to less than 980 Won to 1 US Dollar.



However since the Credit Crunch and the US Subprime Mortagage loan bad debts and House foreclosures, the Won took strong beatings and gone back to its former position to more than 1000 Won to the Greenback.



Investment banks in South Korea must have taken hugh chunks of the credits to the housing loan market in the United States, and the fall of the Leyman Brothers must have been the straw that broke the camel's back.



Joy

You right James007

Recently I have business trip to china,

some price is even higher than that of Korea partly for the weak Korean currency.

Quoting from [ksw1010]:

Quoting from [James 007]:




Have you notice recently, the Won was taken off the Exchange list?





It is starting to fall back to the Asian Foreign currency crisis in 1997. The won has actually risen against the US dollars last couple of months back, it broke the 1000 Won barrier to less than 980 Won to 1 US Dollar.





However since the Credit Crunch and the US Subprime Mortagage loan bad debts and House foreclosures, the Won took strong beatings and gone back to its former position to more than 1000 Won to the Greenback.





Investment banks in South Korea must have taken hugh chunks of the credits to the housing loan market in the United States, and the fall of the Leyman Brothers must have been the straw that broke the camel's back.





Joy

You right James007

Recently I have business trip to china,

some price is even higher than that of Korea partly for the weak Korean currency.

US Fed is giving a loan of $70 billion to South Korea and Singapore.

But is it a lack of US dollars in the country's reserves that cause the weaking of the currency? Singapore turns down the offer out of good gesture, we don't need it.

However, the MAS (equal to the Fed Central Bank) is regulating the strength of the Singapore Dollars against the US Dollars, not to let it go too high in exchange rate as to cause slowdown in the exports.

Are we going into a phase of Global financial meltdown? Somewhat a repeat of the Asian Financial Crisis in 1997? The warnings of the prophets of economy are sounding the pre-alarm of job losses towards the early 2009, and may be prolonged for 3 years. Small businesses will be hardest hit, and big conglomerates are forced to scale down and trim their fats. We will be seeing more mergers, acquisitions and demises of companies and brands on the global scale. Already the takeover of VW by Porsche has been in the pipeline.

However the property market in USA seems to be on the road to recovery, with the G7 nations chipping in and the Feds pep shot of $700 billion into the Financial Sector, and interest rate cuts seem to work.

 Joy