Exchange rate
#31
Re: Exchange rate
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 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
#32
BE Enthusiast
Joined: Jun 2010
Location: Dubai
Posts: 585
Re: Exchange rate
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.
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.
#33
Re: Exchange rate
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 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.
#34
Re: Exchange rate
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.
#35
Re: Exchange rate
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.
#36
Account Closed
Joined: Jul 2007
Posts: 7,028
Re: Exchange rate
#37
Account Closed
Joined: Feb 2011
Posts: 0
Re: Exchange rate
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