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GBP/AED hits 6.85...............

GBP/AED hits 6.85...............

Old Aug 14th 2008, 5:56 am
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Default Re: GBP/AED hits 6.85...............

Originally Posted by Madam Medusa View Post
monsieur medusa is paid in sterling...

MM, xx
No wonder you have had a self-satisfied smirk on your face over the past 18 months...payback time cometh
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Old Aug 14th 2008, 6:21 am
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Default Re: GBP/AED hits 6.85...............

Originally Posted by Madam Medusa View Post
monsieur medusa is paid in sterling...

MM, xx
http://newsvote.bbc.co.uk/2/shared/f...elve_month.stm

That's quite a drop....
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Old Aug 14th 2008, 6:31 am
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Default Re: GBP/AED hits 6.85...............

it's about time the UAE Dirham strengthened. Things here are getting way too expensive and the rapid decline of the $ (and the AED) over the past few years has not been a good thing.

Have a look at this historic currency data... The days of GBP/AED = 5.5 may not be too far off again.

Go AED!

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Old Aug 14th 2008, 6:33 am
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Default Re: GBP/AED hits 6.85...............

Originally Posted by Madam Medusa View Post
monsieur medusa is paid in sterling...

MM, xx
ah, good for me but not you then pet.
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Old Aug 14th 2008, 6:48 am
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Talking Re: GBP/AED hits 6.85...............

Originally Posted by Shadya View Post
Its temporary USD strength.
But just to clarify here there is some concern that the UK's economy (and elsewhere) is stalling as well (high inflation and faltering growth).

The US dollars new found strength isnt really undermined by any actual change in the economic outlook.
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Old Aug 14th 2008, 6:51 am
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Default Re: GBP/AED hits 6.85...............

Originally Posted by Charismatic View Post
But just to clarify here there is some concern that the UK's economy (and elsewhere) is stalling as well (high inflation and faltering growth).
The UK's 4% inflation isn't high when compared to the UAE's 13.2% in the 1st half of this year
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Old Aug 14th 2008, 6:56 am
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Default Re: GBP/AED hits 6.85...............

Originally Posted by Charismatic View Post
But just to clarify here there is some concern that the UK's economy (and elsewhere) is stalling as well (high inflation and faltering growth).

The US dollars new found strength isnt really undermined by any actual change in the economic outlook.
so if I get paid in dirhams and send cash back to pay off my mortgage and credit cards, basically this is only a good thing for me?
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Old Aug 14th 2008, 7:02 am
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Default Re: GBP/AED hits 6.85...............

Originally Posted by Face81 View Post
The UK's 4% inflation isn't high when compared to the UAE's 13.2% in the 1st half of this year
Factory gate inflation jumped to the highest rate in the last 12 years though .

I dont like CPI figures.
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Old Aug 14th 2008, 7:05 am
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Default Re: GBP/AED hits 6.85...............

Originally Posted by Spugsy View Post
so if I get paid in dirhams and send cash back to pay off my mortgage and credit cards, basically this is only a good thing for me?
10,000dhs converted to GBP at 7.3 rate = 1,369 GBP

10,000dhs converted to GBP at 6.00 rate = 1,666 GBP

So yes, this is good news for you in respect of more cash - however your house investment in the UK may be dropping like a stone... swings and roundabouts....
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Old Aug 14th 2008, 7:20 am
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Default Re: GBP/AED hits 6.85...............

Originally Posted by Face81 View Post
iHave a look at this historic currency data... The days of GBP/AED = 5.5 may not be too far off again.
I really don't think so. Once the oil price starts rising again, the rate will probably stabilise around 7.0 but may reach 6.75 before it does so.
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Old Aug 14th 2008, 8:40 am
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Default Re: GBP/AED hits 6.85...............

Can't ever see 5.5 happening

I think it will hover around the 6.8/6.9 mark for a while.

The only way I would see it drop below the 6.5 mark would be if the mythical 're-pegging' vs USD ever comes to anything (assuming I got my maths correct on what the impact would be?!??!)
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