Exchange Rate Now!

The rich oligarchy in Kyrgyzstan are not the only ones worried about the change in government, where former President Kurmanbek Bakiyev was toppled in Apr 2010.

Forex traders were very mindful and wary too, as the currency of Kyrgyzstan Som (KGS) (Kyrgyz: сом, sometimes transliterated as “sum” or “soum”) would wildly fluctuate.

Currently, 1 US Dollar trades at 45.53 Kyrgyzstan Som and it is highly likely that the Kyrgyzstan Som would depreciate in the weeks to come due to the government instability as well as a outpour of funds from the rich oligarchy in Kyrgyzstan to safe havens like the US Dollar.

We predicted that the Kyrgyzstan Som may hit the 1 US Dollar against 50.0 Kyrgyzstan Som within the next 3 months with the same rational. Political situation in Kyrgyzstan is (more…)

Just when everyone thought that we had recovered from the global financial crisis which started in late 2008, the Dow Jones, NASDAQ and S&P 500 are now reeling from a long overdue aftermath and plunged in late Feb 2010.

The direct impact on forex led the a spike in US Dollar against major currencies like the Euro and the Japanese Yen. The hope is now on the drop in unemployment rate to stabilise the economy and bring back the much needed confidence into the stock markets around the world and as a result bring more predictability into the forex market.

As at 6 Feb 2010, the US Dollar was trading at 

1 U.S. dollar = 0.733460466 Euros

or  Euro = 1.3634 U.S. dollars. Nowhere near the levels last seen in Dec 2008 but surely a worrying sign even for USA, as a appreciating US Dollar may hamper exports and put a damper on economic growth.

Adding more complexity to the equation is the result concern on European debts. Countries in European Union (EU) like Greece, Romania, Spain, Portugal, Turkey and other countries in Europe like Iceland still could not shake off the stigma of an imminent collapse in financial system. If this scenario truly materialize in the Eurozone, it could lead to (more…)

As we step into this new year, we left behind 2009 in what was a tumultous year where exchange rate is concerned. We stepped into year 2009 where oil prices declined steeply, before a sharp upturn occurred in the later part of the year. We stepped into 2009 where the world financial markets was reeling from bank collapse before stock market climbed in the later part of the year.

We stepped into year 2009 when the US Dollar was strengthening against all other major currencies and the US Dollar finished on a strong note.

Here are some of the possible predictions for year 2010.

1. US Dollar continue to appreciate – Year 2010 might be another good year for US Dollar, at least in the early part of the year. All the Detroit big 3, Dubai World and Banks will need more time to prove their stability. Therefore, it is expected for US Dollar to be the preference of parking of wealth.

2. South African Rand – Year 2010 promises to change the whole of South Africa with the arrival of the FIFA World Cup. With high expectations, the Rand would be a hopeful punt with forex traders and for the South African themselves, hoping that (more…)