Quote:
Originally Posted by anil
Hi,
The exchange rate was around 7.7-7.8 in Nov last year.
Getting back to that level depends on the USD. There is a recession in the US and interest rates are going down fast.. this affects exchange rates.
But, it is difficult to say how likely it is to get there.
This is why currency brokers advise people to fix the exchange as far as possible, so you know what you will be paying (and maybe you can sleep at night!).
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so you would predict that if the dollar goes down, we should get more dirhams for our pounds.
sorry if this is a stupidly obvious question. i am hoping to see a rise by sept which is when my next installment is, i'd be happy with something around 7.5!