And the pound collapses........
May 7th 2010, 6:22 am
#1
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Thread Starter
Joined: Jul 2007
Posts: 13,553
And the pound collapses........
At 10am UAE time, GBP/AED was 5.39, GBP/SAR was 5.5030, GBP/BHD was 0.5535, GBP/QAR was 5.3420.............. 
May 7th 2010, 8:01 am
#2
Account Closed
Joined: Jul 2007
Posts: 7,028
Re: And the pound collapses........
...and the Euro too versus the Greenback/Dirham, albeit more gradually.
http://www.xe.com/currencycharts/?from=EUR&to=AED if you look at the monthly chart.
http://www.xe.com/currencycharts/?from=EUR&to=AED if you look at the monthly chart.
Last edited by lionheart; May 7th 2010 at 8:06 am.
May 7th 2010, 9:40 am
#5
Shikra
Joined: Apr 2010
Location: Sandy Park
Posts: 192
Re: And the pound collapses........
Let us hope not 
http://www.x-rates.com/d/USD/EUR/graph120.html
And an interesting story about the US National debt:
http://cedarcomm.com/~stevelm1/usdebt.htm
http://www.x-rates.com/d/USD/EUR/graph120.html
And an interesting story about the US National debt:
http://cedarcomm.com/~stevelm1/usdebt.htm
May 7th 2010, 9:41 am
#6
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Joined: Oct 2008
Posts: 2,502
Re: And the pound collapses........
Nah, at least not now. If the dollar was to collapse it'd be hell for us living out here as the currencies are tied to the USD. Return of massive inflation, which this region can ill-afford, esp. Dubai.
So far the trend has been the decline of other currencies against the dollar. The Euro is taking a far harder beating against the dollar and may even drop to parity by the end of the year if we start having trouble with the remainder of the PIIGs.
I wouldn't be surprised if the pound drops to 1.35 to the dollar by year's end.
So far the trend has been the decline of other currencies against the dollar. The Euro is taking a far harder beating against the dollar and may even drop to parity by the end of the year if we start having trouble with the remainder of the PIIGs.
I wouldn't be surprised if the pound drops to 1.35 to the dollar by year's end.
May 7th 2010, 9:44 am
#7
Shikra
Joined: Apr 2010
Location: Sandy Park
Posts: 192
Re: And the pound collapses........
Nah, at least not now. If the dollar was to collapse it'd be hell for us living out here as the currencies are tied to the USD. Return of massive inflation, which this region can ill-afford, esp. Dubai.
So far the trend has been the decline of other currencies against the dollar. The Euro is taking a far harder beating against the dollar and may even drop to parity by the end of the year if we start having trouble with the remainder of the PIIGs.
I wouldn't be surprised if the pound drops to 1.35 to the dollar by year's end.
So far the trend has been the decline of other currencies against the dollar. The Euro is taking a far harder beating against the dollar and may even drop to parity by the end of the year if we start having trouble with the remainder of the PIIGs.
I wouldn't be surprised if the pound drops to 1.35 to the dollar by year's end.
http://zfacts.com/p/461.html
May 7th 2010, 9:48 am
#8
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Joined: Oct 2008
Posts: 2,502
Re: And the pound collapses........
The strength of the currency will be dependent not solely on the size of the debt but also the faith in the country's economy to rebound. Despite the US debt levels, which are indeed staggering, there's more faith in the regeneration of the US economy versus, say, Greece, or even the EU. That's why the euro is sliding against the dollar despite the relatively strong position of Germany and many of the member states.
The US will likely have to answer for its debts at some point - but that time is not quite here yet. Same with the UK.
The US will likely have to answer for its debts at some point - but that time is not quite here yet. Same with the UK.
Ethos, you are talking about Dubai, which is in a weak debt. Take a look at the current debt U.S is facing against the Federal Reserve
http://zfacts.com/p/461.html
http://zfacts.com/p/461.html
May 7th 2010, 9:50 am
#9
Shikra
Joined: Apr 2010
Location: Sandy Park
Posts: 192
Re: And the pound collapses........
The strength of the currency will be dependent not solely on the size of the debt but also the faith in the country's economy to rebound. Despite the US debt levels, which are indeed staggering, there's more faith in the regeneration of the US economy versus, say, Greece, or even the EU. That's why the euro is sliding against the dollar despite the relatively strong position of Germany and many of the member states.
The US will likely have to answer for its debts at some point - but that time is not quite here yet. Same with the UK.
The US will likely have to answer for its debts at some point - but that time is not quite here yet. Same with the UK.
May 7th 2010, 6:40 pm
#10
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Joined: Sep 2009
Location: Abu Dhabi
Posts: 1,805
Re: And the pound collapses........
Further the pound drops the better! Wish the BRL would take a tanking!
May 9th 2010, 5:17 am
#11
Banned
Joined: May 2010
Posts: 40
Re: And the pound collapses........
Great News..My Daughter lands at LHR at Noon..Now she can buy more clothes and make up with her dollars..I'm tracking her flight as we speak- She's over the Hudson Bay
May 9th 2010, 5:33 am
#12
Remember
Joined: Oct 2003
Location: The Land of Sindbad
Posts: 1,275
Re: And the pound collapses........
And when Germany's economy blows in the next couple of months the Euro will fall even further.
May 9th 2010, 5:43 am
#13
Banned
Joined: May 2010
Posts: 40
Re: And the pound collapses........
She's over Lac Fourcroy now
