One for finance bods....
Apr 14th 2011, 7:30 am
#1
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Joined: Jul 2004
Location: currently Dubai, ex UK
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One for finance bods....
Hypothetical... you have a decent lump sum that you wish to save long term.
You have the choice to transfer AED to GBP, USD or EUR account.
What is the best option currently?
You have the choice to transfer AED to GBP, USD or EUR account.
What is the best option currently?
Apr 14th 2011, 7:37 am
#2
Bored liberal
Joined: Feb 2007
Location: Over there ----->
Posts: 13,713
Re: One for finance bods....
Depends on many factors. Timeframe, your long-term plans, will you need to convert it again in the future. Also, you mean save as in keep on deposit or as in invest?
Apr 14th 2011, 7:56 am
#3
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Joined: Jul 2004
Location: currently Dubai, ex UK
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Re: One for finance bods....
heh - I suspected such an answer.... the current short term objective is to get it out of the UAE and offshore...
Apr 14th 2011, 11:05 am
#5
Lost in BE Cyberspace
Joined: Aug 2009
Location: Disneyland, Dubai
Posts: 15,887
Re: One for finance bods....
The right answer is that you should spread it across a basket of hard currencies and assets.
The reality is that you will just shove it into a GBP/USD bank account held in Jersey.
