Americans at advantage as won falls against dollar

[unhappycamper]

Americans at advantage as won falls against dollar
By Hwang Hae-rym and Teri Weaver, Stars and Stripes
Pacific edition, Sunday, February 22, 2009

SEOUL — The U.S. dollar’s value climbed to more than 1,500 South Korean won on Friday, a three-month high that signaled continuing economic woes for both countries, according to local economists.

The weakened won means it’s a good time for Americans in South Korea to spend money and even buy up won for future use, economists said.

Americans in Korea "can enjoy this time," said economist Jang Jae-chul of the Samsung Economic Research Institute.

The won’s slipping value does not mean the dollar is growing stronger, according to Kim Young-sam, an economist at Hana Institute of Finance in Seoul.

In fact, it’s yet another indication of the dollar’s worldwide weakness as President Barack Obama and Congress work to keep a deep recession from getting deeper by offering federal bailout money to banks, automakers and people facing home foreclosures.


Rest of article at: http://www.stripes.com/article.asp?section=104&article=60873%2e

[tanyev]

1. Whee! That makes medical tourism jaunts to South Korea even more affordable!

:sarcasm: