Exchange Rate Now!

This can be a good time to visit Albania.

In the late part of September 2009, the Albania Lek (ALL) has lost some 3 per cent against major currencies like the US Dollar. And while this information is good for tourist, Albanians are left with worry and panic on whether they themselves should switch their savings into the US Dollar or the Euro.

Currently, 1 UD Dollar (USD) is trading at 93 Albania Lek (Leke/ALL). Compared to just 2 weeks ago on 15th Sep 2009, 1 USD is trading was trading at about 91 Albania Lek. Albanians are now worrying if the trend of Albanian Leke (ALL) depreciation will continue.

The worst case scenario can happen when the Albanians themselves decide to switch (more…)

Since the US invasion of Afghanistan in 2001, the Afghan Afghani (AFN) has gained greater stability. Businessmen has been quoting their products in Afghan Afghani (AFN) and the population of Afghanistan in a large part has been using the Afghan Afghani in making payments too. Even donars like Japan, United States and the European Union has been pledging funds in Afghani.

The acceptance of the Afghan Afghani (AFN) is a demonstration of success in the financial stability of Afghanistan. There appears to be a greater willingness worldwide to use the Afghani as a medium of exchange and as a store of value. However, before you want to jump into trading Afghani (more…)

New Zealand is often viewed as a country with slow growth – where things are made or grown rather than an interesting country of bright ideas and high productivity. As such, the general consensus in the early 1990s is for the New Zealand Dollar (also known as the “Kiwi”) to continue a long term depreciation against currencies of more “interesting” origin, like the Japanese Yen, the US Dollar and even the Australian Dollar.

Indeed, between year 1996 – 2000, the New Zealand dollar depreciated from 1 USD = 1.41 NZD to an exchange rate of 1 USD = 2.5 NZD, a steep 44% decline. The depreciation trend has since reversed over the years. For a while, it seems like things are not as gloomy for the New Zealand Dollar as predicted – until the financial crisis which started in Oct 2008 rocked the stability of the New Zealand dollar again.

From a rate of 1 USD = 1.49 NZD just before the start of the financial crisis in Sep 2008, the New Zealand Dollar depreciated to 1 USD = 1.94 NZD in Feb 2009. This represents a Hugh swing of 35% drop in value of the New Zealand Dollar. Fortunately for most New Zealanders, their national currency has rebounded back to a current level of 1 US Dollar compared to 1.44 New Zealand Dollar.

While most currency and forex traders attribute this trading trend as consistent with other major currencies (where an increased risk appetite from a global economy recovery (more…)