Exchange Rate Now!

While most major economies are trying to revive themselves from the financial crisis which shocked the world in Oct 2008, another mini-crisis occurred recently when President Obama mooted plan to further control and constrict major financial institutions (Banks and Hedge funds) for reaching a critical size that will enable them to weld substantial market influence.

Another spanner was thrown by Greece recently, howbeit it only affects the Euro zone.

One of the countries in Europe which had already adopted the Euro as the national currency, Greece financial stability came under scrutiny recently due to concerns if the Greek government can actually pay off the national debt and guarantee the levelling of government bonds.

Things cumulated into a jittery forex trading market on 28th Jan 2010 when a sell-off of Euro began, enabling forex traders who punt on the US Dollar smiling all the way to the bank (more…)

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…)

There has never been such a spotlight on Albanian Lek (ALL) as in recent weeks. With the Lek tumbling some 3% against the Euro in Sep 2009, forex traders are nervously sitting at the end of their seats wondering if Albanian Central Bank may just give up on the Lek and advise a switch to the Euro.

The Albanians themselves are asking the same question. After all, the Albanian currency has been under harsh pressure during the whole of 2009, due mainly to high government expenditures and low levels of remittances (the Albanian Leke value diminished by some 12 per cent since January 2009). Being a nation in Europe, it makes perfect sense for Albania to make the switch to Euro. A look at the (more…)