Trade Middle East Currencies

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Trade Middle East Currencies

http://www.theforexnittygritty.com/forex/trade-middle-east-currencies

Is now the time to trade Middle East currencies? The region is in turmoil which typically leads to currency volatility. Wars raging in Syria, Iraq and Libya essentially make these countries failed states. So is the only choice to flee to safe haven currencies? Forex exchange trading can be the most profitable in times of high volatility and it can also be the most dangerous. First of all what are the currencies most likely to be affected by events in the Middle East as well as North Africa.

Trade Middle East Currencies

The Middle East encompasses a majority of Western Asia excluding the Caucasus and Egypt. These are the nations of the region, their currencies and currency symbols. We have added Libya as it lies next to Egypt and is part of chaos that currency plagues the Middle East.

visit www.TheForexNittyGritty.com to see table

Libya is a major oil producer. Its currency commonly trades close to the value of the US dollar. Despite the overthrow of the Kaddafi government and civil unrest the value of the Libyan Dinar had been rising in the eighty-two cent range and then took a fall with the current fighting. Nevertheless, it appears that the strength of the oil driven economy is such that traders are not bailing out of the Libyan Dinar.

The Egyptian pound has historically traded at about a sixth of the USD. Since the overthrow of the Morsi regime the pound fell to 1 EGP = 14 cents. But the strong military government seems to be bringing calm to currency markets and the EGP is currently stable.

One Syrian pound is currency worth 67/100 of a US cent. Five years ago before the country fell apart in civil war one Syrian pound was worth 2.25 cents. The value of the SYP could fall father if the civil war worsens and the Islamic Caliphate takes over the region covering eastern Syria and western Iraq.

Iraq’s currency used to trade one IQD = 9/100 of a cent five years ago and the lowest it has traded in five years is one IQD = 8/100 of a cent. Its price curve is very irregular consistent with a thinly traded currency.

The Saudi Arabia currency, the SAR, routinely trades at 1 SAR = 27 cents. The fact that Saudi Arabia is one of the world’s major oil producers is likely why this currency remains so stable. And there is no war directly on Saudi borders.

Despite the war in Gaza the Israeli new shekel has been going up from 25 cents in mid 2012 to more than 29 cents today. Intraday trading has been up to $0.2926 and down to $0.2911.

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Trade Middle East Currencies

  1. 1. By www.TheForexNittyGritty.com Trade Middle East Currencies
  2. 2. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies Is now the time to trade Middle East currencies?
  3. 3. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies The region is in turmoil which typically leads to currency volatility. Wars raging in Syria, Iraq and Libya essentially make these countries failed states.
  4. 4. Before We Continue… Click the links below to get your FREE training materials. Free Weekly Investing Webinars Don’t miss these free training events! http://www.profitableinvestingtips.com/free-webinar Forex Conspiracy Report Read every word of this report! http://www.forexconspiracyreport.com
  5. 5. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies So is the only choice to flee to safe haven currencies? Forex exchange trading can be the most profitable in times of high volatility and it can also be the most dangerous.
  6. 6. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies First of all what are the currencies most likely to be affected by events in the Middle East as well as North Africa?
  7. 7. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies Trade Middle East Currencies
  8. 8. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies The Middle East encompasses a majority of Western Asia excluding the Caucasus and Egypt.
  9. 9. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies These are the nations of the region, their currencies and currency symbols.
  10. 10. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies We have added Libya as it lies next to Egypt and is part of chaos that currency plagues the Middle East.
  11. 11. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies See the table at www.TheForexNittyGritty.com.
  12. 12. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies Libya is a major oil producer. Its currency commonly trades close to the value of the US dollar.
  13. 13. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies Despite the overthrow of the Kaddafi government and civil unrest the value of the Libyan Dinar had been rising in the eighty-two cent range and then took a fall with the current fighting.
  14. 14. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies Nevertheless, it appears that the strength of the oil driven economy is such that traders are not bailing out of the Libyan Dinar.
  15. 15. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies The Egyptian pound has historically traded at about a sixth of the USD. Since the overthrow of the Morsi regime the pound fell to 1 EGP = 14 cents.
  16. 16. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies But the strong military government seems to be bringing calm to currency markets and the EGP is currently stable.
  17. 17. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies One Syrian pound is currency worth 67/100 of a US cent. Five years ago before the country fell apart in civil war one Syrian pound was worth 2.25 cents.
  18. 18. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies The value of the SYP could fall father if the civil war worsens and the Islamic Caliphate takes over the region covering eastern Syria and western Iraq.
  19. 19. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies Iraq’s currency used to trade one IQD = 9/100 of a cent five years ago and the lowest it has traded in five years is one IQD = 8/100 of a cent. Its price curve is very irregular consistent with a thinly traded currency.
  20. 20. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies The Saudi Arabia currency, the SAR, routinely trades at 1 SAR = 27 cents.
  21. 21. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies The fact that Saudi Arabia is one of the world’s major oil producers is likely why this currency remains so stable.
  22. 22. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies And there is no war directly on Saudi borders.
  23. 23. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies Despite the war in Gaza the Israeli new shekel has been going up from 25 cents in mid 2012 to more than 29 cents today. Intraday trading has been up to $0.2926 and down to $0.2911.
  24. 24. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies If you are going to trade foreign currencies in the Middle East for a profit there is intraday variation much like that of the Israeli new shekel.
  25. 25. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies And there is the risk that any of these currencies could bottom out in response to current events.
  26. 26. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies The nations that are most at risk to see their currencies plunge seem to be Iraq, Syria and Libya.
  27. 27. http://www.theforexnittygritty.com/forex/trade- middle-east-currencies Cyprus is spared the troubles in local currency markets as it uses the Euro, which has its own set of problems and its own potential for profit.

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