wardialer
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USD Dollar Against HUF Slumping?

Tue Nov 06, 2007 7:04 pm

Hi everyone,

Does anyone know on why the US Dollar is slumping against the Hungarian forint? Right now its 1 USD = 173 HUF

Would this get any further down?
 
scrubbsywg
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RE: USD Dollar Against HUF Slumping?

Tue Nov 06, 2007 7:19 pm

its dropping against everything right now, no matter what currency it is( i know someone will find one or two that it isn't). The canadian dollar is worth over 1.08 dollars US at this point. At levels never before seen since the US Civil war or something. Its crazy.
 
sw733
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RE: USD Dollar Against HUF Slumping?

Tue Nov 06, 2007 8:02 pm

The HUF is gaining strength on its way to being phased out (2010/2011 still, I believe), mostly due to the rise in Hungarian economics and tourism in the 2000's, especially after May 1, 2004. And of course, the USD sucks right now. All my family in Hungary came to the US about 2 months ago and spent like princes...not quite kings, but princes  Wink
 
wardialer
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RE: USD Dollar Against HUF Slumping?

Tue Nov 06, 2007 8:08 pm

Well.....how low will this go??? As my firends Mom Retirement money is payed in US Dollars.

WIll it ever go like below 160??
 
wardialer
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RE: USD Dollar Against HUF Slumping?

Fri Nov 09, 2007 6:16 am

No one seemed to answer my last question...

Will it go below 160??
 
copaair737
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RE: USD Dollar Against HUF Slumping?

Fri Nov 09, 2007 6:37 am

Quoting Wardialer (Reply 4):
Will it go below 160??

Probably. I wouldn't be surprised at any of the slumping the USD is about to do, and some of the slumping that has already occurred.
Livin' on Reds, Vitamin C, and Cocaine
 
sw733
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RE: USD Dollar Against HUF Slumping?

Fri Nov 09, 2007 2:26 pm

Quoting Copaair737 (Reply 5):
Probably. I wouldn't be surprised at any of the slumping the USD is about to do, and some of the slumping that has already occurred.

Agreed...the Forint is getting stronger, and the Dollar is getitng weaker...just takes simple math to say probably, yeah, it will get lower.
 
Derico
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RE: USD Dollar Against HUF Slumping?

Fri Nov 09, 2007 4:30 pm

A country with a 50 billion plus trade deficit, and fiscal deficits, AND negative savings rates tend to have weak currencies...

The United States could get away with it for much longer than any other country because of how well the US dollar is regarded, and with good reasons in the last century. But eventually not even the US dollar can defy market logic.

Unless those things change, the US dollar will keep going down. People and investors around the world now have been made aware of the unsustainability of such a macroeconomic setup for any currency, when until a few years ago such were dismissed completely.
My internet was not shut down, the internet has shut me down
 
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casinterest
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RE: USD Dollar Against HUF Slumping?

Sat Nov 10, 2007 11:31 pm

Quoting Derico (Reply 7):
Unless those things change, the US dollar will keep going down. People and investors around the world now have been made aware of the unsustainability of such a macroeconomic setup for any currency, when until a few years ago such were dismissed completely.

The US dollar is going down, but it will not go much further down agains the Euro.
The US's trade deficit is made up mostly of trade deficits with Asia.(China specifically). European leaders have already started decrying the lowering value of the dollar as a real threat. And for good reason.

The US work force is still amongst the most productive in the world.

The reason the dollar is falling is not because the US is less productive, but mostly due to the fact that there is some mortgage and lending uncertainty. (this also caused most of the negative savings rate).

The rapid rise in the Euro and Pound to the dollar is cause for much concern in Europe. Exporters will have issues selling in the US, and in the US importers will have difficulty selling the releatively more expensive European products.

There will also be a competitive issue as many companies in Europe will now be more expensive in relation the US competitors when going for other countires business.

The US trade deficit will quickly narrow, and the savings rate will increase as jobs pay more.

Inflation in the US will also go up, and that is what has to be managed.

The HUF currently benefits from it's tight couplimng with the Euro and it's countries markets. It will move in step with the Euro to dollar, unless internal strife causes unforseen issues.
Older than I just was ,and younger than I will soo be.
 
TUNisia
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RE: USD Dollar Against HUF Slumping?

Sun Nov 11, 2007 2:40 am

Quoting CasInterest (Reply 8):
The rapid rise in the Euro and Pound to the dollar is cause for much concern in Europe. Exporters will have issues selling in the US, and in the US importers will have difficulty selling the releatively more expensive European products.

Well said, but I still worry greatly about inflation here in the US... it's VERY troubling.
Someday the sun will shine down on me in some faraway place - Mahalia Jackson
 
AA7295
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RE: USD Dollar Against HUF Slumping?

Sun Nov 11, 2007 7:15 am

Every economy goes through hard times. As part of macroeconomic theory, every country goes through recession, depressions, recovery then boom. The US is on the border of recession and depression. It's inevitable. It will recover, and become stronger than ever, like after the Great Depression.

Even China is not immune from recession and depression. What the US needs to do is to get a trade surplus, and eliminate national debt. There are many ways to do this, some require big changes. But as with most governments in the world, the US government is reactive not proactive and will not do something until its too late. (ie: stop the war that is costing billions per week, remove the uneducated president who cannot distinguish between OPEC and APEC, and introduce a Democrat leader to improve the economic direction of the USA.)
 
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casinterest
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RE: USD Dollar Against HUF Slumping?

Sun Nov 11, 2007 3:14 pm

Quoting AA7295 (Reply 10):
Even China is not immune from recession and depression. What the US needs to do is to get a trade surplus, and eliminate national debt. There are many ways to do this, some require big changes. But as with most governments in the world, the US government is reactive not proactive and will not do something until its too late. (ie: stop the war that is costing billions per week, remove the uneducated president who cannot distinguish between OPEC and APEC, and introduce a Democrat leader to improve the economic direction of the USA.)

Umm, a democratic president would increase social programs at this point, and raise taxes. This would further increase the slide of the dollar.


What everyone forgets about how the US got into the mess it is now, is that Congress and the president gave a big tax break to all citizens while in office. This coupled with the extreme drop in Mortgage rates is why the US recovered so strongly from 2002 till now in terms of Economic Development and Real Estate.
Older than I just was ,and younger than I will soo be.
 
Banco
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RE: USD Dollar Against HUF Slumping?

Sun Nov 11, 2007 3:20 pm

Quoting CasInterest (Reply 8):
The rapid rise in the Euro and Pound to the dollar is cause for much concern in Europe. Exporters will have issues selling in the US, and in the US importers will have difficulty selling the releatively more expensive European products.

I wouldn't say we're hearing that much in the way of screams of anguish in the UK, at least. Although exports to the US are more expensive, that's countered by the mitigating drop in the cost of imports. And oil, priced in dollars of course.
She's as nervous as a very small nun at a penguin shoot.

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