Any way to predict exchange rates?

[aphex]

Seems like the $ is loosing alot of ground on the ?, the exchange rate went from $.88/1? to $.99/1? in about 2 months...

I need to exchange some money soon and wanted to see if i should do it now, or wait...

 

[pyonir]

you think that is a lot of ground?!? hahahahahahaa....try English pounds exhange rate and Irish pounds exchange.

 

[aphex]

Originally posted by: pyonir
you think that is a lot of ground?!? hahahahahahaa....try English pounds exhange rate and Irish pounds exchange.

I dont care about those pansy monetary units, im speakin about the MIGHTY EURO!

 

[pyonir]

Originally posted by: aphexII

Originally posted by: pyonir
you think that is a lot of ground?!? hahahahahahaa....try English pounds exhange rate and Irish pounds exchange.

I dont care about those pansy monetary units, im speakin about the MIGHTY EURO!

what i'm sayin is it could be worse. christ that is pretty damn close to 1:1

 

[dullard]

If you could truely predict them, then you could be a very rich person very quickly. Currency is traded just like stocks - if you always knew when it was going up or down, you would make money with every transaction.

Since currency is freely traded prices can fluctuate with no conceivable reason. Some large international company might decide tomarrow to switch most of their money from dollars to euros and then the price might change significantly due to supply and demand. However, in the long run, it generally follows the economy of the respective regions. If inflation started running rampant in America and not in Europe, then people will value the dollar less than the euro and the price will change. Recently the American economy is becoming less trusted and the dollar price has dropped significantly.

Unless you are exchanging a lot of money, it might be wiser to search for the lowest cost of exchange instead of guessing about the direction of the exchange rate. For example if I go to my bank in my home town and switch $1000 to Euros I would have to pay them a $50 fee and then use a terrible current exchange rate. However I have other options. 1) I can go to Europe and just use my creditcard and I get a great exchange rate with no fee. 2) I can go to Europe and use my ATM from the same bank that wanted to charge me $50 and instead only pay a $1 foreign ATM fee plus I get the best exchange rate possible. Conclusion: the location of your exchange and the fees they charge might make a much larger difference than an unpredictable change in the exchange rate.

 

[aphex]

Originally posted by: dullard
If you could truely predict them, then you could be a very rich person very quickly. Currency is traded just like stocks - if you always knew when it was going up or down, you would make money with every transaction.

Since currency is freely traded prices can fluctuate with no conceivable reason. Some large international company might decide tomarrow to switch most of their money from dollars to euros and then the price might change significantly due to supply and demand. However, in the long run, it generally follows the economy of the respective regions. If inflation started running rampant in America and not in Europe, then people will value the dollar less than the euro and the price will change. Recently the American economy is becoming less trusted and the dollar price has dropped significantly.

So maybe i should go exchange now then, while their in essence equal.

 

[PsychoAndy]

ask george soros

 

[rbhawcroft]

wot he said, and also look at a curecy hostory chart, if you think the dollar mght get stronger then wait until the last minute and if not then get the euros now.

 

[FelixDeCat]

Stupid euro. Go back to .88 cents dang you.

I hate the euro.

*GO GREENBACKS!*