Forecasts for AED to FJD
The exchange rate forecast for the AED to FJD is influenced by a combination of ongoing economic conditions and market sentiments. Currently, the AED is trading at 0.6147 FJD, which is 1.9% below its three-month average of 0.6269. Analysts have noted that this fluctuation falls within a quite stable range of 4.2%, trading from 0.6135 to 0.6395 during that period.
The UAE dirham remains fixed against the US dollar, maintaining stability and predictability for the AED. As none of the Gulf Cooperation Council currencies, except Kuwait's, are subject to fluctuation against the dollar, this peg ensures that the AED will likely remain stable in the near term, supporting predictable exchange rates for businesses and travelers.
On the other hand, the Fijian dollar is poised for growth driven by a significant boost in tourism. With projections indicating that Fiji may welcome up to a million tourists annually by the end of 2024, an expansion of the tourism sector into a $FJ3 billion industry is anticipated. As new markets open, particularly in Asia and Canada, investment in resorts and hotels will likely increase, which may strengthen the FJD in the medium term.
Experts suggest that while the AED may remain stable due to its fixed exchange rate to the USD, favorable conditions in the Fijian tourism market could lead to a gradual appreciation of the FJD. Market participants are advised to monitor both the stability of the AED and the evolving international interest in Fiji as these factors could influence the exchange rate in the coming quarters.
