Exchange rate

Old Jun 2nd 2011, 10:20 am
  #31  
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Default Re: Exchange rate

Originally Posted by kittycat1 View Post
Ok so basically just send meoney home as noone has a clue then....
For some, it can be worth setting up a standing order to pay money home monthy. That way you basically follow the markets up and down and stop worrying about whether it's the right time or not to send.

I am not Meow and the above should not be taken as advice for your particular situation, she can now tell me how wrong I am
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Old Jun 2nd 2011, 11:58 am
  #32  
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Default Re: Exchange rate

Originally Posted by kittycat1 View Post
Ok so basically just send meoney home as noone has a clue then....
Basically yes.

10 year history of GBP to AED is here.

http://www.xe.com/currencycharts/?fr...o=AED&view=10Y


Current rate around 6 looks to me to be as good as you're gonna get for a while....until the next financial crisis when you might get 5 to the pound again.
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Old Jun 2nd 2011, 3:02 pm
  #33  
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Default Re: Exchange rate

Originally Posted by typical View Post
For some, it can be worth setting up a standing order to pay money home monthy. That way you basically follow the markets up and down and stop worrying about whether it's the right time or not to send.

I am not Meow and the above should not be taken as advice for your particular situation, she can now tell me how wrong I am

I draw the line at predicting curency movement.

There's a potential 'pound cost averaging' advantage in making regular payments, but its much more expensive than moving a larger amount every few months.
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Old Jun 2nd 2011, 3:08 pm
  #34  
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Default Re: Exchange rate

Originally Posted by Meow View Post
There's a potential 'pound cost averaging' advantage in making regular payments, but its much more expensive than moving a larger amount every few months.
There we go

I've taken to moving money when I feel there's more in my Dubai account than I feel comfortable walking away from. Seems as good a yardstick as any. Probably time to stop keeping it all so liquid though.
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Old Jun 2nd 2011, 3:15 pm
  #35  
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Default Re: Exchange rate

Originally Posted by typical View Post
There we go

I've taken to moving money when I feel there's more in my Dubai account than I feel comfortable walking away from. Seems as good a yardstick as any. Probably time to stop keeping it all so liquid though.

Not wise to keep much in the UAE, full stop. At least put it into USD in a offshore account if not ready to move to another currency.

Interest rates are lousy and over the long term you've a better chance of your money growing by investing it.

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Old Jun 6th 2011, 7:56 am
  #36  
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Default Re: Exchange rate

Originally Posted by kittycat1 View Post
Thank you for that most helpful responce Lionheart. I was thinking as there are a few financial people on here someone might know a bit more than I do as all I do is draw pretty pictures all day long... seems to have been 6-1 for ages
This may be slightly more helpfulhttp://uk.finance.yahoo.com/news/5-r...232479656.html
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Old Jun 6th 2011, 8:27 am
  #37  
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Default Re: Exchange rate

Originally Posted by Meow View Post
I draw the line at predicting curency movement.

There's a potential 'pound cost averaging' advantage in making regular payments, but its much more expensive than moving a larger amount every few months.
PCA isn't to be sniffed at, unless it is those smaller amounts.

Did quite nicely off shares in a couple of the banks with several purchases at different prices. Lowered the risk and lowered the gains. But those are things I can live with
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Old Jun 8th 2011, 3:40 am
  #38  
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Default Re: Exchange rate

Hedge yourself with an option (premium is usually 10% of the total amount)
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