Tuesday March 18
 
10:33
 
Crazy Money

The dollar/yen, pound/yen rates are dropping like crazy at the moment.

On a purely selfish point, I’m gutted. I transferred a huge wod of dosh to pounds a few weeks ago when the rate hit 208. The rate had only been below that level once in the past three months, so it was a pretty good deal.

Transferring the same amount today, I’ve have got about 7% more money.

The only saving graces are (1) at least the rate wasn’t as bad as the 230’s, 240’s of last August, (2) if the rate stays low for the moment, I’ll be able to transfer more at pay day, (3) I’m receiving interest (although not 7% a month!) on the money I transferred over.

Whether the rate should stay at this level is a double edged sword. If it returns back to the 230~240’s, I can feel happy I transferred at a good rate - but if it remains at this level, I’ll get more pounds.

I bet the rate shoots back up again just before pay day. It always does.

You’d think that working in finance, I’d have a greater interest and knowledge on why the rate has dropped like this. I don’t. Probably should though.