Posted by Allison on 18 February 2011, 07:04
We often look at the state of the British pound against the US dollar and indeed even a few other versions of the dollar as well (Canada, New Zealand and Australia to name just three). But how has it been doing as far as the Bahamian dollar is concerned?
It started the New Year with a rate of 1.5514 on the currency converter, and it managed to climb up to 1.5630 on the 4th of the month. But was this a small increase that wouldn’t last long, or the start of something more important?
A drop to 1.5568 the next day followed by a week ending rate of 1.5461 meant that we could possibly be seeing a worse time in store for the pound as yet. The following week looked a lot more promising though, especially as we got consistently good and improving results. We even managed to finish in an even stronger position, this time ending the week on 1.5830. When you compare that to the closing rate for the previous week you can see how well the British pound was doing against the Bahamian dollar.
Early into the following week we managed to achieve another milestone. This time we smashed through the 1.60 barrier – although only just, achieving a rate of 1.6002 in the process. This climbed slightly the next day although we then fell back slightly to finish on 1.5938 by the close of play that week. So far though things were going reasonably well; it just depended on how well the rest of the week would go as to whether we could stay ahead of the Bahamian dollar to this extent.
The 25th of the month saw a lower rate of 1.5767 hit the headlines, so it was looking doubtful as to whether we could keep this performance up for a long time or not. We did manage to do better than that but it was a bit hit and miss for those last few days. Eventually we settled on 1.5898 to close out the month with.