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GBP/AED rate: who is sending money home now?

GBP/AED rate: who is sending money home now?

Old Feb 21st 2013, 12:32 pm
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Default GBP/AED rate: who is sending money home now?

Briefly touched 5.56 (interbank) earlier today, but dragged itself back out of the toilet to the comparative respectability of 5.60-plus in the last couple of hours......... down more than 6 pct so far this year......... last time we saw a rate this good for sending money home was August 2010..........
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Old Feb 21st 2013, 12:41 pm
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Default Re: GBP/AED rate: who is sending money home now?

Good innit! I did a transfer today at 5.6677
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Old Feb 21st 2013, 12:45 pm
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Default Re: GBP/AED rate: who is sending money home now?

Many of my clients are as good rates available for minimal hassle.
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Old Feb 21st 2013, 12:50 pm
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Default Re: GBP/AED rate: who is sending money home now?

Looks good from a 3 yr graph too...
http://uk.finance.yahoo.com/q/bc?s=G...=on&z=m&q=l&c=
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Old Feb 21st 2013, 12:50 pm
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Default Re: GBP/AED rate: who is sending money home now?

Originally Posted by Meow View Post
Many of my clients are as good rates available for minimal hassle.
Are they predicting (or are you telling them) that the rate will not (cannot?) go any lower?
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Old Feb 21st 2013, 12:54 pm
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Default Re: GBP/AED rate: who is sending money home now?

Originally Posted by The Dean View Post
Are they predicting (or are you telling them) that the rate will not (cannot?) go any lower?
That's very rude of you. I would never do such a thing. I don't own a (working) crystal ball.
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Old Feb 21st 2013, 12:56 pm
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Default Re: GBP/AED rate: who is sending money home now?

Originally Posted by Meow View Post
That's very rude of you. I would never do such a thing. I don't own a (working) crystal ball.
you still got that broom though? >>>>>>>>>>>>>>>> runs
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Old Feb 21st 2013, 12:57 pm
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Default Re: GBP/AED rate: who is sending money home now?

Originally Posted by Blue Cat View Post
you still got that broom though? >>>>>>>>>>>>>>>> runs
Yes and will bat The Dean around the head with it if I ever see him again.
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Old Feb 21st 2013, 12:58 pm
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Default Re: GBP/AED rate: who is sending money home now?

Originally Posted by Meow View Post
Yes and will bat The Dean around the head with it if I ever see him again.
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Old Feb 21st 2013, 1:44 pm
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Default Re: GBP/AED rate: who is sending money home now?

Wish I had some money left..............
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Old Feb 22nd 2013, 4:38 am
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Default Re: GBP/AED rate: who is sending money home now?

Originally Posted by britexpat76 View Post
Wish I had some money left..............
Wish I'd had some to start with.

Still, next commission cheque looks good.
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Old Feb 22nd 2013, 8:02 am
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Default Re: GBP/AED rate: who is sending money home now?

Originally Posted by Meow View Post
That's very rude of you. I would never do such a thing. I don't own a (working) crystal ball.
What are you talking about? Rude - in what way?

I have been professionally active in the foreign exchange market for more than thirty years, and I have lost count of the number of times people have asked me 'Is this a good time to send money home?' - I'm quite sure you get that all the time too.

As politely as I can, I just avoid answering, other than a bland 'Well, it's a lot better than it was a month ago' (or whatever) - but then again I'm not paid a salary/fee to give financial advice - you are. I don't even make forecasts on a professional level, instead telling importers to work out what is their 'worst case scenario' and hedge against that, and 'never to rely on predictions'.

So - you're an adviser, I'm not. I was wondering how you cope with that in the sort of circumstances we have seen in recent weeks.

Rude?
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Old Feb 22nd 2013, 8:06 am
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Default Re: GBP/AED rate: who is sending money home now?

Originally Posted by The Dean View Post
What are you talking about? Rude - in what way?

I have been professionally active in the foreign exchange market for more than thirty years, and I have lost count of the number of times people have asked me 'Is this a good time to send money home?' - I'm quite sure you get that all the time too.

As politely as I can, I just avoid answering, other than a bland 'Well, it's a lot better than it was a month ago' (or whatever) - but then again I'm not paid a salary/fee to give financial advice - you are. I don't even make forecasts on a professional level, instead telling importers to work out what is their 'worst case scenario' and hedge against that, and 'never to rely on predictions'.

So - you're an adviser, I'm not. I was wondering how you cope with that in the sort of circumstances we have seen in recent weeks.

Rude?
Yes, rude. You implied I was telling people rates couldn't go lower. I would never do that and you should know that. The suggestion was that I would mislead people.

All I have said is that rates look better for moving AED to GBP than they have for some time. That's the truth. No one can predict the future, I never do and never offer empty promises and guarantees. That's cowboy territory.



I thought better of you.
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Old Feb 22nd 2013, 8:22 am
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Default Re: GBP/AED rate: who is sending money home now?

Originally Posted by Meow View Post
Yes, rude. You implied I was telling people rates couldn't go lower. I would never do that and you should know that. The suggestion was that I would mislead people.

All I have said is that rates look better for moving AED to GBP than they have for some time. That's the truth. No one can predict the future, I never do and never offer empty promises and guarantees. That's cowboy territory.



I thought better of you.
Wrong interpretation. Oh well............
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Old Feb 22nd 2013, 11:03 pm
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Default Re: GBP/AED rate: who is sending money home now?

So the UK lost its AAA. Sterling crash on the cards now. Happy days.
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