GBP/AED Market Update (Feb 09)
Feb 5th 2009, 9:59 am
#1
BE Enthusiast
Thread Starter
Joined: Dec 2004
Posts: 524
GBP/AED Market Update (Feb 09)
Hi All,
As requested by a number of BE regulars here's a brief update on what's happening in the currency markets and for anyone in the UK, enjoy the snow!
AED remains pegged to the USD and therefore the movements in the currency mirror that of GBP/USD.
High & Low of the Month:
High: 5.64 (on the 08/01/09)
Low: 4.95 (on the 26/01/09)
Difference of cost on £200,000:
High: AED 1,128,000
Low: AED 990,000
So a difference of AED 138,000
Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely are to make your money go as far as you do.
Best Regards
Mark Bodega
Director - HiFX
As requested by a number of BE regulars here's a brief update on what's happening in the currency markets and for anyone in the UK, enjoy the snow!
AED remains pegged to the USD and therefore the movements in the currency mirror that of GBP/USD.
High & Low of the Month:
High: 5.64 (on the 08/01/09)
Low: 4.95 (on the 26/01/09)
Difference of cost on £200,000:
High: AED 1,128,000
Low: AED 990,000
So a difference of AED 138,000
Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely are to make your money go as far as you do.
Best Regards
Mark Bodega
Director - HiFX
