Won Exchange Rate

rrr2015

rrr2015

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twosix said:
Today utrip 1059, revolut 1065, amaze 1059.
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wow revolut good rates. btw which card u add to uber or k.ride? may i know which telco u use?

I'm using EIGHT, i suspect this might be the reason why i couldn't add any card to uber, k.ride app
 
twosix

twosix

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rrr2015 said:
wow revolut good rates. btw which card u add to uber or k.ride? may i know which telco u use?

I'm using EIGHT, i suspect this might be the reason why i couldn't add any card to uber, k.ride app
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I added the revolut virtual card to k.ride. i did this in sg. Using simba mostly here in kr.

Yah, revolut has the best rates. The others r meh...
 
dnsfpl

dnsfpl

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how wondering why won so weak now

20 years ago 600+, 10 years ago 800+ then now 1000+

has their hotel and air ticket increase a lot?
 
twosix

twosix

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dnsfpl said:
how wondering why won so weak now

20 years ago 600+, 10 years ago 800+ then now 1000+

has their hotel and air ticket increase a lot?
Click to expand...
from chatgpt:

The South Korean won (KRW) has experienced periods of weakening over the years due to a combination of domestic and global economic factors. Here are the key reasons why the won might weaken over time:

1. Strong US Dollar (USD)​

  • The USD has generally strengthened due to high US interest rates, economic resilience, and its role as the world’s reserve currency.
  • When the US raises interest rates (as it did aggressively from 2022 onward), investors tend to pull money from emerging markets like South Korea to invest in safer, higher-yielding US assets. This reduces demand for the won.

2. Global Risk Sentiment​

  • The won is considered a risk-sensitive currency. During times of global uncertainty (e.g., geopolitical tensions, recession fears, financial crises), investors flock to safer assets like the USD or JPY, and the won tends to weaken.
  • Ongoing tensions with North Korea and broader China–US trade frictions also contribute to risk aversion.

3. South Korea’s Export Dependence​

  • Korea is heavily reliant on exports (especially semiconductors, automobiles, and electronics).
  • Global slowdowns or weak demand from major trade partners (like China) hurt Korea’s trade balance, reducing foreign currency inflow and weakening the won.

4. Monetary Policy Gap​

  • The Bank of Korea (BOK) often keeps interest rates lower than the US Federal Reserve to support domestic growth.
  • A wider interest rate gap between Korea and the US can lead to capital outflows, weakening the won.

5. Demographic and Structural Challenges​

  • South Korea faces long-term challenges such as a declining population, aging workforce, and high youth unemployment.
  • These structural issues can lead to slower growth expectations, putting long-term pressure on the currency.

6. Market Speculation​

  • Currency markets are influenced by investor sentiment and speculation. If the market believes the won will continue to weaken, traders may short the currency, accelerating the decline.
 
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