Quote:
Originally Posted by abaya
In the last year, we have lost 50% of the value of our savings due to the fall in value of the Icelandic kronur. If ktsp had not decided to convert what was left of it (the 50%) into USD and EUR last week, we would have lost damn near all of it, given what the live market exchange rates are right now (and what the Icelandic government refuses to make public). So we're lucky to get away with what we have. Luckily, we do not invest in US stocks.... I haven't lost any money in my CD's and other FDIC-insured accounts, thank god.
|
ISK/Euro a year ago: 85
ISK/Euro a month ago: 127
ISK/Euro on October 1st: 157 (this is when I converted our Icelandic savings to foreign currencies)
ISK/Euro now: 305 (You cannot buy foreign currencies at the bank anymore. Or send money out of Iceland. It's all frozen. But this was the rate at mid-day today according to the the European Central Bank website which lists the inter-bank rates)
I could say we lost half the value of our savings, but for now the money is basically frozen so we don't even have that. So we'll have to see.
I have a small 401K in the US but I have no idea what's in it. Probably not much right now :P