exchange rate help

[Wannaberich]

This not based on TA, but most of the big forex investors I know are expecting 50% drop in the value of US$ in next 8 months.

Surely not against the pound however?I keep reading the pound will be getting weaker.

 

[PropGuy]

Surely not against the pound however?I keep reading the pound will be getting weaker.

It is relative to weakness of US$. With 50% fall if that figure is correct, pound is most likely to go up against US$. That is the main reason I said, Pound may fall in the short-term but in long-term it still looks stronger than US$.

 

[Wannaberich]

£1=$1.45.5 today.
Anyone want to guess where it will be in 3/6 months?

 

[georgihh]

Whoever is from UK must be very happy
With the pound down by 25% you can make a huge profit by selling your property in Dubai.
Now is the time to sell in Dubai and buy in UK.
If the pound sinks another 5-10%, I could consider this life time opportunity
South Africa is another great place to buy houses at very good prices.
On the other hand converting pound to dirham and buying in Dubai is equal to suicide

 

[PropGuy]

£1=$1.45.5 today.
Anyone want to guess where it will be in 3/6 months?

During dot com bubble burst it went down to £1=$1.36

 

[Wannaberich]

Whoever is from UK must be very happy
With the pound down by 25% you can make a huge profit by selling your property in Dubai.
Now is the time to sell in Dubai and buy in UK.
If the pound sinks another 5-10%, I could consider this life time opportunity
South Africa is another great place to buy houses at very good prices.
On the other hand converting pound to dirham and buying in Dubai is equal to suicide

Thats if you can sell your property and for a good price.

 

[georgihh]

Thats if you can sell your property and for a good price.

If you try hard you can still find an inexperienced foreigner just land up in Dubai with the cash. Just tell him how beautiful Dubai is, show him some pictures, explain him what is going to be in the next 5 years and he might click

 

[PropGuy]

US$ is dropping

The biggest foreign-exchange strategists and investors say the best may be over for the dollar after a four-month, 24 percent rally.

The currency weakened 5.9 percent measured by the trade- weighted Dollar Index after strengthening between July and November as investors bought the greenback to flee riskier assets and repay dollar-denominated loans from lenders reining in credit. Ever since peaking on Nov. 21, the dollar fell against all 16 of the most-widely traded currencies, according to data compiled by Bloomberg.

U.S. policy makers are flooding the world with an extra $8.5 trillion through 23 different plans designed to bail out the financial system and pump up the economy. The decline shows that the increased supply of money may be overwhelming investors just as the government steps up debt sales, the trade and budget deficits grow and de-leveraging by investors slows.

“The dollar will go to new lows as the U.S. attacks its currency,” said John Taylor, chairman of New York-based FX Concepts Inc., which manages about $14.5 billion of currencies.

Bloomberg.com: Currencies

 

[PropGuy]

wow, Euro recovered 60% of its value since peak of march 2008

 

[showbiz]

Do you reckon the dollar will go down further against pound???

 

[georgihh]

Do you reckon the dollar will go down further against pound???

The pound is going to pair with the euro very soon.
The $ is weak but only against the euro.
The $ is still number one and the only option for the pound is to pair with the euro and join the common currency

 

[PropGuy]

Do you reckon the dollar will go down further against pound???

pound is increasing against US$ but at lesser rate. Difficult to say what will happen to pound as some big name in banking in China has expressed it is unlikely they will continue to buy pound and asked UK to join Euro.

Mr Tsang, an elder statesman of Asian finance, said open trading states must adapt to the realities of modern finance.

"I do not believe in the sustainability of a small floating currency. Look at the pound, it's being attacked," he said in interview with the Daily Telegraph.

"The euro is a good move. People have to abide by the Maastricht criteria, so it imposes discipline. Other options are less palatable if you really want to become a big strong economic union."

Mr Tsang, the chief Executive of the Hong Kong Special Administrative Region of the People's Republic of China, is a veteran of East Asia's currency crisis of the late 1990s and the SARS epidemic. As a Beijing loyalist, he offers clues into the current thinking of the Chinese leadership. His comments on sterling are a warning sign that China may ultimately prove reluctant to buy large amounts of UK Treasury debt in the future.

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/3531461/Britain-should-join-euro-says-Hong-Kongs-Tsang.html

 

[georgihh]

pound is increasing against US$ but at lesser rate. Difficult to say what will happen to pound as some big name in banking in China has expressed it is unlikely they will continue to buy pound and asked UK to join Euro.

The only chance for the pound to get stronger is to join the euro
Euro is going to be number one in couple of years
Expect 1 euro to buy 2 $ in the coming years

 

[PropGuy]

The only chance for the pound to get stronger is to join the euro
Euro is going to be number one in couple of years
Expect 1 euro to buy 2 $ in the coming years

There will be no Pound when UK joins Euro.

 

[georgihh]

There will be no Pound when UK joins Euro.

Yes the pound is history.
Next year the pound will join the euro at the proposed exchange rate 10 years ago
One pound = one euro.
Ok the British they don’t surrender easy but this time they have no balls

 

[gypsyuma]

What is the current exchange rate for the dollar. When I left Dubai two years ago it was 3.65. Has it changed?

 

[PropGuy]

What is the current exchange rate for the dollar. When I left Dubai two years ago it was 3.65. Has it changed?

same, and it doesn't change since uae dirham is pegged with the US$.

 

[georgihh]

What is the current exchange rate for the dollar. When I left Dubai two years ago it was 3.65. Has it changed?

This is one of the most stupid questions in this forum
Typical American
The rate exchange is one $, and the bank prints two $

 

[gypsyuma]

This is one of the most stupid questions in this forum
Typical American
The rate exchange is one $, and the bank prints two $

WTH is your problem, typical horses' patooty. Shame on you.

Call me what you want, when I left Dubai several years ago there was talk of ending the peg to the dollar and spreading. But some of the Gulf countries, I think Kuwait being one, was resisting the move. So excuse the hell out of me if I am not au currant on the exact status of the exchange rates in Dubai.

I was just a little busy raising four children on the other side of the world, you big jerk!

 

[memo123]

SO far the dollar has been moving in tandem with oil prices and appreciating as oil prices are collapsing, very soon starting the 2009, people will return the to fundamentals , where dollar will weaken again and we shall see 1.65 euro/dollar very soon on the back of interest rate differentials DOLLAR HAS NO REASON TO GO HIGHER , BUT TOWARDS THE END OF THE YEAR , ALL BANKS ARE FORCED TO SHOW BIG AMONUTS OF $ ON THIER BALANCE SHEETS . LET THE NEW YEAR COME , IT WILL ALL BE DUMMPED in one session .
however sterling will remain very weak and yes will be 1:1 with the euro if not lower , currently it s setting at 1.4740 to the dollar , it COULD go higher as the euro goes higher but not at the same Pace and that is why by march we see it at par with the euro , the maximum you can see on GBP now is 1.55 to the dollar .Yen will be the biggest winner unless bank of japan continuously intervene in the market to buy dollars. and then put it in treasury bills that are at negative yields . Something which they cant do on adaily basis .
oil prices could go below 25$ but Dolar will decouple from oil prices soon and you will witness avery fast appreciaten of the EURO .
Finally $/aed official rate is 3.6710 /40 bid/offer spread , i.e. interbank rate , and for a huge amount you should not go to the branch counter to get a rate , NO u should ask the clerk in the bank to call the treasury in the bank and get a proper rate like 1.6710 with minimal bid/offer spread OF 5 PIPS , which u are entitled to that is if ur amount is about .5 mio and higer .
If the oil prices continue to go down then GCC will be forced to devalue it currencies very soon. a move that will be started by saudi the followe by the other gcc , exceot kuwait which has a basket of currencies.
Regards