As most people know, I check the exchange rates every morning on Bloomberg simply out of curiosity. Last Friday there was a "blip" in sterling (and dollar obviously) when it went from 55 to 60 and then back again in the space of a day. This is obviously a massive swing in the world of currency exchange. So I was surprised to see that rates for sterling for today (Friday) were again at 60 this morning. What's more they are now back down to 55 again. Damn - I didn't get to the cash machine fast enough. To keep this in simple terms for us Brits that's 20 quid in two hundred; enough for a fine night out FOC.
What keeps me awake at night is the fact that some people are trying to run a business in these circumstances. How can you buy in raw materials and calculate a sale price / profit with ridiculous fluctuations like this? I'd have given up long ago, and I just can't see anyone staying afloat right now without a generous dollop of good fortune and if you're going to trust to luck you might as well go down to the casino.
- Just a thought!
Rocky did you get my email?
Simon
What keeps me awake at night is the fact that some people are trying to run a business in these circumstances. How can you buy in raw materials and calculate a sale price / profit with ridiculous fluctuations like this? I'd have given up long ago, and I just can't see anyone staying afloat right now without a generous dollop of good fortune and if you're going to trust to luck you might as well go down to the casino.
- Just a thought!
Rocky did you get my email?
Simon