TheShed

Hi everyone,

With sterling languishing at 5.11 I'm wondering about transferring a chunk of change to my UK accounts for a UK purchase late in the year.

Who thinks we are near bottom or is there further downside yet?

I no longer work in the Treasury industry so I'm a bit rusty on these things.

scrubbedexpat141

I reckon it's largely linked to the Brexit chat. I think it will fluctuate but it's fundamentally a decent currency, right?

Surely it can't be worth much less?

Rubydo

The Pound has fallen through the floor this week due to the BREXIT uncertainty.

Now is a great time to send AED back to GBP. My hubby works in the finance industry and mentioned something about this last night.

Lightandbitter

Will go down under 1.35 vs USD which will be sub 5 AED v pound.
Stupid UK opinion polls on Brexit will cause it to spike either way but momentum is definitely downward

iggle

Send now, I don't understand why people ponder over .25 frills. You'r fighting over 50quid you tight git

Will it go up, won't it go down. Who knows, right now is a good price.

Millhouse

wise words don't usually come from you, but on this occasion I agree.

Lightandbitter

And that's what sums you up.
Mug

Lightandbitter

Not sure I agree, he doesn'tneed to send, I believe he was just asking if now is a good time. From OP presume if it did go up he wouldn't send and keep it here

that's all

iggle

Thanks Light

It is my opinion not to keep any large amounts of cash in the UAE. Everything I earn and save is sent back to UK. After suffering my bank account being frozen for changing jobs i will never be held to ransom like that again.

TheShed

Thanks all. Actually, I don't need to actually send as I can simply transfer between my AED and GBP accounts - its about taking advantage of a particular rate. I think i'll dump a pile now and keep buying it down.

Rubydo

No harm transferring some now and if rates drop anymore then transfer again!

Lightandbitter

[QUOTE=iggle;11878891]Thanks Light

It is my opinion not to keep any large amounts of cash in the UAE. Everything I earn and save is sent back to UK. After suffering my bank account being frozen for changing jobs i will never be held to ransom like that again.[/

Now in fairness that's a completely different discussion and I do actually agree with you on.

my point being, the pound is being very heavily sold and looks like it will test it's 10 year low which we saw during the 2008/9 crisis and go below 5 AND

that's a 6% improvement from where we are now.

I was baulking at your 50 quid comment because if it moves 5 or 6 % down then you are insinuating the OP wants to send a grand home, I suspect it was much larger than that