Korea won

[arafiee]

Won !!!!

Korean Won Falls to Six-Week Low as U.S. Economy Concerns Mount

August 08, 2011, 1:42 AM EDT
By Jiyeun Lee

Aug. 8 (Bloomberg) -- South Korea’s won fell to the lowest level in almost six weeks as overseas investors sold more of the nation’s stocks than they bought for a fifth day as the cut in the U.S. debt rating dimmed the outlook for a global recovery.

Standard & Poor’s lowered the sovereign rating by one level to AA+ on Aug. 5, citing the failure of the political system to rein in the U.S. budget deficit and warned further downgrades may follow. Gold rose to a record and U.S. Treasuries climbed as investors sought safer assets outside of emerging markets, where equities extended last week’s rout.

“Foreign investors are selling Korean stocks as they see little hope of an improvement in global and regional economies,” said Hwang Sun Min, a Seoul-based currency dealer at Kookmin Bank. “Investors will be using dollars to buy gold, the safest asset they can think of now.”

The won dropped 1 percent to 1,077.46 per dollar as of 2:14 p.m. in Seoul, according to data compiled by Bloomberg. The currency touched 1,079.85 earlier, the weakest level since June 29. Gold climbed 2.2 percent to $1,701.95 an ounce.

Finance ministers and central bankers from the Group of Seven nations released a statement pledging to take “all necessary measures to support financial stability and growth.” South Korean Vice Finance Minister Yim Jong Yong said yesterday authorities will monitor capital flows and the exchange rate and take prompt action when necessary.

South Korea’s bonds advanced as the Kospi Index of shares slumped 4.6 percent.

The yield on the 3.5 percent notes due June 2014 dropped four basis points, or 0.04 percentage point, to 3.58 percent, the lowest level since June 9, according to prices from Korea Exchange Inc.

--Editors: James Regan, Ven Ram

(http://www.businessweek.com/news/20...x-week-low-as-u-s-economy-concerns-mount.html)

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[arafiee]

Rebounds!!!!!!!!!!!!!!

South Korean Won Rebounds After U.S. Jobless Data Ease Concern on Recovery
By Jiyeun Lee - Aug 12, 2011 9:01 AM GMT+0800

South Korea’s won rose, paring a weekly loss, as jobless claims in the U.S. dropped unexpectedly to the lowest level since April, easing concern that the world’s biggest economy is headed for a recession.

Unemployment-benefit claims fell by 7,000 in the week ended Aug. 6 to 395,000, the Labor Department said yesterday. The median estimate of economists surveyed by Bloomberg was for an increase to 405,000. The MSCI Asia-Pacific Index of regional shares rose after the Standard & Poor’s 500 Index rallied 4.6 percent.

“Stock-market movements in Europe and the U.S will have a positive effect on market sentiment,” said Han Sung Min, a foreign-exchange dealer at Busan Bank in Seoul. “Still, gains in the won may be limited as the market remains volatile.”

The won appreciated 0.5 percent to 1,076.55 per dollar as of 9:34 a.m. in Seoul, according to data compiled by Bloomberg. The currency lost 0.8 percent this week.

The government has “enough policy room” to weather the global economic uncertainty and will persist with efforts to reduce “excessive” volatility in the foreign-exchange market, Deputy Finance Minister Choi Jong Ku said at a press briefing yesterday.

The Bank of Korea left its benchmark interest rate unchanged at 3.25 percent for a second month yesterday, after having raised it three times this year.

Government bond yields rose for a second day. The yield on the 3.5 percent notes due June 2014 climbed four basis points, or 0.04 percentage point, to 3.55 percent, Korea Exchange Inc. prices show.

To contact the reporter on this story: Jiyeun Lee in Seoul at [email protected]

To contact the editor responsible for this story: James Regan at [email protected].

(http://www.bloomberg.com/news/2011-...-s-jobless-data-ease-concern-on-recovery.html)



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[arafiee]

Economy!!!!

South Korea confident it can beat financial storm
By KELLY OLSEN - AP Business Writer | AP – 2 hrs 51 mins ago

SEOUL, South Korea (AP) — When it comes to weathering economic storms, South Koreans can rightly claim more familiarity than most with the harrowing experience of seeing hard-won prosperity evaporate.

Ever since the East Asian economic crisis spread to its shores in late 1997, government officials, media and ordinary citizens have kept up a nervous vigilance against any hint of turmoil.

...

Certainly, while South Korea has been a keen student of crisis, it still has vulnerabilities to global turmoil given its high, though diversified, export exposure and tendency to run up short-term debt,:-? said Bill Belchere, chief global economist at Mirae Asset Securities in Hong Kong.

"They've learned from every mistake," Belchere said. "They just continue to make mistakes, just like the rest of the world. But they learn from them."

(http://news.yahoo.com/south-korea-confident-beat-financial-storm-055134595.html)



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[arafiee]

WON pun nak RV juga kea !!!!!!

Foreign currency deposits fall at Korean banks
August 13, 2011

Foreign currency deposits at Korean banks fell sharply this month on investors’ bet that the local currency’s recent weakness to the dollar would be short-lived, industry data showed yesterday.

Foreign currency-denominated deposits at the six major banks stood at $22.4 billion as of Tuesday, down $1.8 billion from the end of July, according to industry data.

The fall in the deposits during the first nine days of August is nearly equivalent to last month’s rise in deposits worth $1.96 billion, data showed. In June, banks’ foreign currency-denominated deposits grew by $318 million.

Market watchers said the drop in the deposits is mainly a result of depositors’ belief that the local currency’s recent losing streak is likely to reverse in the near term, making them rush to withdraw part of the money.

The won’s fall usually prompts people to increase savings to lock in profits as it raises the value of won-conversion.

The Korean currency has lost more than 2.5 percent against the U.S. dollar since Aug. 2 when global financial markets were rattled by recession woes and the downgrade of the U.S.’ credit rating by Standard and Poor’s.

Despite the unstable stock markets, the country’s sustained exports and ample foreign currency liquidity would put upward pressure on the won, they added.

Meanwhile, foreign currency denominated loans rose during the first nine days of this month despite the won’s weakness. Yonhap

(http://joongangdaily.joins.com/article/view.asp?aid=2940155)



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[BOCEH]

mahal x won

 

[sconsult]

Pada 17 Feb 2011, $1 = KRW 1115.
.
.
Pada 15 Aug 2011, $1 = KRW 1067

selepas 6 bulan....IDR meningkat KRW 48 bagi setiap $1.

Pada 17 Feb 2012 ?????

Melaburlah dalam Korea Won (KRW) sekarang !

 

[puyol]

Korea Utara punya currency ada potensi untuk RV tak?

 

[arafiee]

Turun !!!!

AUGUST 18, 2011, 3:26 A.M. ET
S Korea Won Down Late On Weak Local Shares; Bonds Mixed:-?

SEOUL (Dow Jones)--The South Korean won was lower against the dollar late Thursday, weighed by losses in local stocks, with most players taking to the sidelines amid an absence of fresh leads, traders said.

The dollar opened the local session at an intraday low of KRW1,069, tracking its broad weakness against other major currencies overnight in New York trading. The greenback, however, rebounded as local stocks extended losses, spurring some won sales by offshore players. Importers' dollar demands also supported the dollar, said traders.

The Korea Composite Stock Prices Index, or Kospi, ended 1.7% lower at 1860.58 Thursday.

"The market is stabilizing after the fear-driven trades of last week, but external economic uncertainties including euro-zone sovereign debt risks and the soft U.S. economy continue to weigh on sentiment toward the risk-sensitive local currency," said Byeon Ji-young, a currency analyst at Woori Futures.

"The dollar had fallen back to the lower-KRW1,070s area this week, but investors are failing to find further momentum to push the U.S. unit lower than KRW1,070."

She said the dollar is expected to trade between KRW1,070 and KRW1,075 in the near term.

Korea government bonds were mixed amid a lack of fundamental cues in the market.

Investors have been active in buying longer-end bonds recently amid the ongoing global economic uncertainties, while shorter-end bonds have become less attractive as their yields are close to the benchmark interest rate of 3.25%, Tong Yang Securities fixed-income analyst Park Hyung-min said.

Foreign investors' interests in local treasury paper could continue to support bond market sentiment, but "yields seem to have more upside than downside from their current levels, considering the possibility of a rate hike from the central bank in the future," he added.

Park tipped the three-year yield's resistance at 3.70%.

Lead September bond futures fell five ticks to 103.91. Foreign investors bought 3,174 contracts in net, while domestic institutions sold 4,269 contracts.

-By Jieun Shin, Dow Jones Newswires; 822-3700-1905; [email protected]

(http://online.wsj.com/article/BT-CO-20110818-702601.html)



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[arafiee]

Turun lagi !!!

Korean Won Weakens as Insurers Told to Prepare for a Crisis; Bonds Gain:-?
By Jiyeun Lee - Aug 19, 2011 9:24 AM GMT+0800

South Korea’s won fell, headed for a fourth weekly loss, after the financial regulator urged insurers to boost capital in preparation for a potential crisis and signs the U.S. economy is slowing dimmed the outlook for exports. Government bonds rose for the first time in four days.

The won led slides in regional currencies today as Financial Supervisory Service Governor Kwon Hyouk Se asked chief executives of insurance companies to refrain from paying dividends. U.S. reports showed yesterday consumer confidence is the weakest since March 2009, existing home sales unexpectedly dropped in July and jobless claims rose more than economists forecast last week.

“The won tends to be more volatile in response to overseas news than other currencies as Korea depends a lot on exports,” said Ryoo Hyun Jung, chief currency dealer at Citibank Inc. in Seoul. “The currency’s decline may be limited by exporters selling dollars to repatriate income.”

The won fell for a third day, declining 0.7 percent to 1,081.73 as of 10:12 a.m. in Seoul, according to data compiled by Bloomberg. It lost 0.2 percent this week and today touched 1,085.45, the lowest level since Aug. 11.

Morgan Stanley cut its 2011 economic growth estimate for South Korea to 3.8 percent yesterday from 4.5 percent, citing the risk of a “correction” in consumption. The Kospi stock index fell 4.4 percent, poised for its biggest slide since November 2009.

Overseas investors sold more of the nation’s stocks than they bought, as they have done on all but three days in the past month.

Three-year government bonds advanced, pushing their yield to the lowest level this week. The yield on the 3.5 percent debt due June 2014 fell five basis points, or 0.05 percentage point, to 3.51 percent, Korea Exchange Inc. prices show.

(http://www.bloomberg.com/news/2011-...-told-to-prepare-for-a-crisis-bonds-gain.html)



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[arafiee]

Won !!!

Korean Won Weakens as Insurers Told to Prepare for a Crisis; Bonds Gain#:-S
Posted: August 21, 2011 by THE CURRENCY NEWSHOUND - Just Hopin in Asian Currency Markets

South Korea’s won fell, capping its fourth weekly loss, after the financial regulator urged insurers to boost capital in preparation for a potential crisis and signs the U.S. economy is slowing dimmed the outlook for exports. Government bonds rose for the first time in four days.

The won led declines in regional currencies today as Financial Supervisory Service Governor Kwon Hyouk Se asked chief executives of insurance companies to be cautious in paying dividends. U.S. reports showed consumer confidence is the weakest since March 2009, existing home sales unexpectedly dropped in July and jobless claims rose more than economists forecast last week.

(http://thecurrencynewshound.com/201...rers-told-to-prepare-for-a-crisis-bonds-gain/)



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