5 Reasons Why You Have To Invest In Won
Each country must have different currencies to use in every day of its transactions. One of them is a Korean country that has a currency in units of won.This official Korean currency is the currency used for shopping and all other payment activities in Korea. The won currency has the form of banknotes and also coins made of bronze, or copper material in the coin. Both South and North Korea both use the won currency as their currency. The difference between the two is only the exchange rate. Aside from being a tool for transacting the functions of the won itself are also the same as other currencies that are used as a tool for investment. As in the forex market the won currency can be the right choice for investment. That’s why this time we will discuss 5 reasons why you must invest in won:
- Includes high value Exotic Currency currency. In the forex market there are groupings of currencies which are divided into three, namely: major, minor and Exotic Currency. Exotic Currency is a term for a currency that is not liquidated, less popular in consistent market activities, other than that this type of currency has its trading costs with high markup in certain markets or dealers. But even though the won currency, including a less popular currency, does not mean that this currency is weak or undervalued. This is because the grouping only shows the limitations and unpopularity of the money in terms of behavior and in terms of trading activities only. Because in reality even though the Korean won is considered to be the type of Exotic Currency, this currency has a high value.
- In terms of analysis of the daily data the history of all Exotic currencies including won will show a profitable opportunity. These profitable opportunities always look good in terms of price variations for all periods during either short, medium or long periods. You can use this to benefit from investing in this currency.
- This type of exotic currency, such as won, always shows high votability with the price value that moves in the short and long term. This allows huge potential profits for its investors.
- The won currency, especially South Korea, continues to strengthen. This strengthening continues to occur and reaches the highest level since 2008 due to the Current Account surplus. When the value of the US dollar is against 10 currencies, it is little changed at 1,010.78. The won lead continued to strengthen against the dollar with a 3.3 percent rise with the strongest level since August 2008.
- Won is a progressive currency. Movement and changes in the value of the currency in the market are always influenced by the economy of the country.With the status of Korea, which is considered as an Asian tiger that has advanced industry and technology, the Korean economy is arguably increasingly progressing. This can be seen from the achievements of this country in 2005 which managed to become a leader in high-speed internet access, the production of flat-screen monitors, and mobile phones. In addition, South Korea also leads in shipbuilding at number 1, tire production is ranked 3rd in the world and other productions are also ranked well.
For the issue of unemployment, Korea is ranked 36th. It ranks 19th in terms of ease of business. Ranked 31 out of 179 countries in the world in the index of economic freedom. Looking at the economic progress above, of course we can see clearly if South Korea is a progressive country. Although initially the country was considered unstable in the 1960s, but now in less than 40 years, Korea has become one of the world’s major industrial countries. With its economic progress it certainly affects the value of its currency which is also progressive to be one of the investment choices.