Thursday, November 27, 2008

The Exhange Rate of the Korean Currency Against the U.S. Dollar

The U.S. has an economic crash in these days. I heard that Citi group had lay off around 50,000 employees. This is really serious situation now. In Korea, my country also has a problem like here. A lot of Korean said this is more serious than IMF, which had probably around 9 years ago. Therefore, the exchange rate of the Korean currency around 1,500 won against the dollar. I am really worried about it because I am an international student as a F1 visa, so I have to receive money assistance from my parents, Korea. However, now, I can not request money from them becuase the exchange rate much higher than this September, around 950 won. This time is not good receiving money from Korea, so I should increase part time job working days to save tuition.

Since I came to New York from Korea, I have been always worried about Korea such as economic situation, goverment situation and my family situation. Actualy, I was not a patriot, but I am getting a patriot. I often think that Korean government has to change and has to have a strong economic power more than other countries. Then, the exchange rate is probably getting down. It is only my personal opinion, but I believe that many F1 visa students think like me. I hope to revocer of Korean economy and down the exchange rate soon.

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