Exchange Rate Now!

Panic hits the air recently when the slide of US Dollar continued against the Euro, reaching a low of 1 Euro (EUR) = 1.4905 US Dollar (USD). Forex traders who bet against the US Dollar are now raking in big profits and the contrarians reeling from their Hugh losses.

The trend of US Dollar slide against the Euro has been widely fore-casted. This is not surprising, on the back of budget deficit in the US faced by the Obama administration as well as increased confidence in the global economy, prompting institutional investors to move out from the US Dollar reserves into assets, alternative currencies like the Euro and even commodities. Most forex traders are now betting against further depreciation of the the US Dollar.

The imminent depreciation in US Dollar further down the road is widely anticipated. It is unlikely that despite his eloquence, President Obama can talk his way into (more…)

Forex Traders have been sitting on the edge of their seats recently as the biggest currency in the world, the US Dollar (USD) seem to suffer a collapse and depreciated against other major currencies in the world. Such fluctuations has the ability to make millionaires or bankrupts overnight.

The reason for the fall lies mainly with the originator – United States. While the gloom over the global financial crisis might have subsided, the federal government still needs a size-able budget to keep the government going, to keep the economy going and to even keep the war in Afghanistan and Iraq going. All these money comes from loans, issued in the form of treasury securities, which essentially has the same effect of  issuance of new US Dollars. As the US government continues their trend of spending and chalking up budget deficit, the amount of securities issued increases. This essentially depreciates the value of the US Dollar (more…)

If you likes to frequent Marks and Spencers, you will realise 2 things regarding the exchange rate policy of this company when shopping.

Firstly, the price tags of products are mostly quoted in Euro or the Great Britain Pound (GBP). However, the price in local currency is almost always higher than what you would get from a direct conversion of Euro, GBP to your local currency, using the current exchange rates.

Secondly, if you will like to convert any currency in the store, the exchange rate quoted is almost always worse off than what you would had gotten from most other money changes (more…)