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Posted October 2nd, 2014 by Charles Purdy

The pound’s rebound – foreign homes cheaper this autumn!

On the verge of needing to buy euros for an overseas property purchase? Then now could be an ideal time after the exchange rate swung back in favour of Brits, thanks to the confidence boost the Scottish ‘No’ vote has brought, slow economic recovery in Europe and hints that an interest rate rise in the UK could be on the cards.

Now, at the start of October and with autumn about to set in, the pound is hovering around a two-year high against the euro at £1/€1.28, while against the dollar it is £1/$1.62. Even just three weeks ago – in the run-up to the Scottish referendum – anyone making a high value pound-euro transfer would have received a worse deal than today. The rate then was in the mid £1/€1.24s.

In real terms, this means that at today’s rate of £1/€1.28, a £100,000 property abroad would cost £78,125 (based on interbank exchange rates), while three weeks ago when the rate was £1/€1.245 it would have cost £80,321 – approximately £2,000 more – the cost of a new kitchen or bathroom in your new holiday home!

It is usual for important political or economic results to cause volatility in the currency – and other financial – markets. For anyone whose money could be affected by such movements, speaking to experts before your funds are exposed makes sense. Currency specialists like Smart Currency Exchange not only offer better exchange rates than high street banks, but they understand how exchange rates might react to key economic events and can propose ways to protet the value of your funds – something that is vital for someone intending to use pounds to buy an overeas property that is priced in a foreign currency.

Find out more about how Smart Currency Exchange could help you save money and send money abroad safely by downloading their free guide.


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Posted May 15th, 2014 by Charles Purdy

Make a bargain even better in a buyer’s market

Flat is the best way to describe property markets in most southern European countries, which means a buyer’s market and low house prices. For British buyers though, during the first half of 2014 conditions have swung even more in your favour, thanks to the stronger pound. Since the start of the year, the value of  Continue Reading…

Posted January 23rd, 2014 by Charles Purdy

Ready to benefit from the pound’s rise in 2014?

Exchange rates have remained in favour of British people since the start of the year, with one pound buying you more dollars than it has done for around two-and-a-half-years and more euros for at least a year. For anyone on the verge of purchasing an overseas property or emigrating, this is great news. It means  Continue Reading…

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