Lac Kenogami, Quebec

Lac Kenogami, Quebec

Sep 25, 2008

Korean won is weakening to the Canadian Dollar....is that a good thing?

Hello all. Things are good. Just about to get my first pay check tomorrow, including my airfare...which is nice. Ellen and I are also set-up with a Korean bank and online banking. We are also set-up to do online transfers to our Scotia/TD accounts back home...at any time for any amount. The only thing right now is:
Won to CDN


The Canadian dollar is buying about 1,100 KRW. Korean won. Good for Canada....not so good for Ellen and I who get paid in Korean dollars. Compared to only about a month ago, that is a 10% swing. Looked around and found some forecasts from http://www.forecasts.org/index.htm of currencies against the USD. So first:
Won vs. USD

Then:
CDN vs USD

So, by taking a couple ratios, the CDN $ is going to gain another 9.4% by Apr. 2009 which is only gonna make it worse. So, stick to strategy of monthly and evaluate as time goes on to see if there is any value in holding. For those of you who are asking....yes I have a lot of free time on my hands and yes I will try to do something more interesting than this in the future for my blog posts. Talk to you soon.

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