Comments on: How can South Korean currency can be so low. £1 = 1,971 Won?

By: Balanced Rock

Balanced Rock — Tue, 30 Nov 1999 00:00:00 +0000

just is dude

By: Secret Agent

Secret Agent — Tue, 30 Nov 1999 00:00:00 +0000

I went to South Korea earlier this year. It really sucks carrying around all that cash and coins.

Consider that at one point, the dollar was equal to 100 yen.

Does that mean the yen is low, or does it just mean that a yen was worth a penny?

The dollar has lower denominations - the lowest being the penny, but we just don’t use the lowest one. Other countries do in a relative way.

By: President in Twenty-Four Years

President in Twenty-Four Years — Tue, 30 Nov 1999 00:00:00 +0000

Simple: their currency isn’t backed up by a strong economy. They probably don’t have a good house market, too, which pretty much backs up the US dollar. One USD is worth something around 15,000 of some African currency, I believe.

South Korea may also have to many Won notes/ bills floating around, thus making them worth nothing. The more printed money there is of a currency (that includes coins, too), the less valuable it is and the less demand there is for it.

By: lazynoob

lazynoob — Tue, 30 Nov 1999 00:00:00 +0000

Because they thinks that if the digits are more, it means more. They feel very proud when they tell foreigners that they bought a samsung phone for 422400!! and people will go “Wow!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!”

By: Mohammaed Noor

Mohammaed Noor — Tue, 30 Nov 1999 00:00:00 +0000

you got a point there.

Its because South Korean currency has too many Won notes and that decreases the currency value. The currency isn’t supported by a strong economy, which other countries do.

It has too many notes or arguably has the most in the world.
http://en.wikipedia.org/wiki/South_Korean_won