Posted by Allison on 18 February 2011, 07:05
Since we usually focus on more common and well known currencies for this section of the website, we thought we would concentrate on a few lesser known ones this month. Every single currency still has its place on the world stage, and we can sometimes learn just as much from a smaller currency than we can from a major one.
Such is the case with the Djibouti franc. The pound had an exchange rate on the currency converter of 272.764 against the Djibouti franc at the end of December. By the 3rd January this had improved to 275.570 and then the next day it jumped up again to 282.471. However these improvements ended up slipping back slightly to leave the pound on 279.389 at the close of play during that first week.
The following week soon got things back on track though, and it was largely the work of the British pound against the Djibouti franc that saw the pound gain a week ending rate of 286.184. This was definitely good news, but could we keep it up for the longer term? There was a long way to go until the end of the month.
The following Monday saw this was true, with a day ending rate of 279.774 being a long way away from the rate we’d gone into the weekend with. But once again things became more positive as the days went by, with the result being that the week ended on an encouraging 287.988.
So far though we have seen that the two currencies have been up and down against each other for the days we’ve already looked at. Would this reasonably be expected to continue until the end of the month as well?
The answer was yes, as a low point of 276.766 was reached on the 26th followed by 285.221 the next day. In the end though, the final rate for the month against the Djibouti franc was 277.719. However this was still better than the British pound had begun the month with, so we can celebrate that victory for sure.