Sunday, 1 February 2009

Exchange rate issues

We are self-supporting volunteers with a charitable organisation working with young people. Not having won the lottery, written a million-selling pop song or gained the patent for a genius invention that means we rely on the generous financial support of people who believe in what we’re doing to put bread on the table. Taking the step to leave salaried employment to the relative uncertainty of a new way of life had its challenges but we’ve been overwhelmed by how people have got behind us. The only disappointment is that the economy isn’t playing ball.

Bosnia Herzegovinia’s currency is pegged against the euro at roughly two KM to a euro. As almost all our support arrive in our account in Pounds Sterling the performance of the Pound against the euro-zone becomes important. When we first visited Sarajevo we got 3KM to the pound, now we get about 2. Sadly this means we get less for our money. However, every cloud has a silver lining. I have Google Adsense account that has paid me once, and stands to pay out again sometime soon. This money accrues mainly through my involvement in the YouTube Partnership programme. I realised today as it pays in Dollars the Pound recent weakness in that direction actually plays in my favour. Pity it only pays pocket money!

2 comments:

Sam M said...

Google Adsense is something I have yet to look into! On a side and slightly offtopic note, i reckon that with precise planning, you could make money out of exchange rates with a similar process to that of the stock exchange.

fraught mummy said...

know the feeling. The pound euro exchange rate is killing us too! Still we could all be in the UK right now if we really wanted economic gloom so feeling pretty good overall!