Well sort of. The contract was for a US company paying in dollars. I live in France and I live in Euros. The recent history of the exchange rate between dollars and euros looks like this:
I just re-read my GCSE Maths text book to confirm this next statement and therefore feel it has been independently verified: graphs that point down are not good.
This graph points down. This is not good. In fact it's really shit news. Not only can I hear the impending thunderclap of doom, but somewhere within the din I can make out the delicate pop of a tube of lube being opened.
It may be time for a think on how to do this without getting pumped by every currency dealer between Chamonix and New York. Maybe holding onto it for a few weeks to catch a spike when the dollar gets stronger for a day or two. More likely is that it may be time to bite the bullet and wonder if maybe Northern Rock had more customers like me, they might not be broke.
P.S. I really feel sorry for any of the customers caught in the crossfire of this Northern Rock fiasco. I only hope one of the big city banks steps up to the mark and takes an initial hit to get the company back on track.
