An Up and Down Affair Against the Hong Kong Dollar

Posted by Allison on 17 March 2012, 14:38

It’s time to see how things went against the Hong Kong dollar last month, and to see which currency would end up in the better position on the currency converter at the end of it. The pound started with a rate of 12.237 against the dollar, so where would we take that particular exchange rate?

Initially we jumped up to 12.292 but this swiftly dropped back to 12.264 to close out the first week. Monday of the following week didn’t bode well though as the pound fell back to 12.212 by the close of the day. Was this a sign of things to come?

If it was things were looking up forty eight hours afterwards as we improved to 12.327. However we couldn’t maintain that work to finish the week in style; instead we limped home to a rate of 12.232.

So where would this lead us? Would we be in for a better time in the second half of the month or was there going to be more drama in store?

We did a little better on Monday, rising to 12.252 in the process, but by the time Thursday rolled around we had sunk back to 12.152. What on earth was going on? This was turning into a month of dramatic highs and lows and there was no telling what the next high or low was going to be either. But the pound pulled a great comeback out of its hat to end on 12.277 on Friday night, causing us all to breathe a sigh of relief at the turnaround.

We carried on in the same vein on the following Monday, rising to 12.299 in the process. Once again we had an up and down week with the low point reaching a painful 12.154. And again we pulled out a good recovery, ending on 12.263 for the week. There was little else to think about here other than where the pound would be by the time the month was over. We were getting close to the day where we would find out too, and when it came we were reasonably happy with the 12.353 we achieved. It had been a pretty good month against the Hong Kong dollar.

 

Comment

  1. I wrote a comment on one of the news reports saying how the pound had done well over the past couple of weeks, but that it probably wouldn’t last. I just wonder whether this is the same kind of thing. Every currency has ups and downs so maybe it is not the right thing to do to celebrate when it does well, because we know what will happen next. What do other people think? Am I being too pessimistic?

    — Kate · Mar 28, 08:59 AM · #