Quote:
Originally Posted by milktrayman
I am also in the process of going through the contract and signing very soon.
I am not used to this fixed rate over spot rates business, HiFx rep tells me it is better to fix at this stage due to the dirhams being pegged very soon with the Euro rather the the dollar, what are your thoughts on this. I realise that it comes down to how much of a risk taker you are and your perception. I am interested on other pepoles thoughts on how they have in teh past or how they will be sending the instalments ?
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Depends on what currency you already keep your money in and how well it is doing
Don't forget currency dealers would try to convince you to go for the fixed rate as it would be a better deal for them, e.g. pound to aed is currenly around 7.3 on the spot rate whereas the fixed rate i was offerred was 6.7
they would try to convince you that AED would go up in the next few months (this pegging and de-pegging business) so better to fix a rate, but realistically they would'nt be offerring you the deal if they genuinely believed in that, as they would be the ones losing money
I personally decided to go for the spot rate - BUT always keep an eye on the market - it's never late to fix a rate if you felt your currency is falling against AED