PPRuNe Forums - View Single Post - UAE Dirham to Dollar Peg
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Old 9th Jun 2007, 08:02
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AirNoServicesAustralia
 
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You need to understand Quokka, that due to the Dirham (and all other Gulf Currencies other than Kuwaits) effectively being US Dollars by just another name, if you move the money out of the Gulf, it doesn't matter which currency you move it into you will be screwed. I would argue that right now, if you can you either leave it parked here or if you can get it invested elsewhere still as US dollars. I know I may be wrong but at some time the US dollar will strengthen again (not back to the old days but at least a bit).

As I said I personally feel comfortable trying to cash in on the boom here, and just making sure I invest in companies and areas that are somewhat insulated from any crash that may happen in the future. I just can't bring myself to transfer my savings back to Oz at a rate of almost 3.1 dirhams to the Aussie, when it was 1.96 to the dollar when I arrived. Then again I can almost hear all of you saying it beats 4 to 1 in a couple of years time. We will see.
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