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…)

While most currencies depreciate against the US Dollar in Year 2009, the Chile Peso has gained some 20% against the US Dollar. While the strengthens the purchasing power of Chileans, it does not do any good for Chilean exporters as their products are now more expensive and less desirable. It is a known fact that a strong peso brings down import prices, contributing to lower consumer prices.

As recent as Nov 2009, 1 US Dollar trades at 485.0 Chilean Peso (CLP) while things are quite different just in late August 2009 when the exchange rate of Chilean Peso against US Dollar was weak (1 US Dollar = 562 Peso).

In the past 2 weeks, the US Dollar has strengthened against major currencies including the Chilean Peso (CLP) (more…)