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Posted January 31st, 2007 by Charles Purdy

Smarts Daily Currency Note – 31st January 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 31st January 2007


Currency

Rate

EURO

1.510

CY£

0.871

US$

1.953

CHF

2.453

CAN$

2.305

AUS$

2.534

Comments: Another steady day for sterling. A bit of weakness this morning but nothing outside the normal volatility. The Fed announcement on interest rates happens today. The expectation is for the interest rates to be kept on hold. Anything else will be a surprise. The market will analyse carefully the wording that accompanies the statement on interest rates as to the Feds view on inflation and the American economy and therefore the possible future direction on interest rates. This afternoon could be interesting.

Note: All rates are mid market inter bank and indicative at the point of publication.

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.



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Posted January 30th, 2007 by Charles Purdy

Smarts Daily Currency Note – 30th January 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 30th January 2007

Currency

Rate

EURO

1.516

CY£

0.872

US$

1.964

CHF

2.462

CAN$

2.325

AUS$

2.545

Comments: Sterling inter bank continues to hover around 1.96 against the US$ and 1.515 against the Euro. Movement has been minimal and we are waiting for the announcements on interest rates from the respective central banks. The Aus$ continues to weaken given that interest rate increases are now unlikely given the lower than expected inflation figures.

Note: All rates are mid market inter bank and indicative at the point of publication.

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.



Posted January 29th, 2007 by Charles Purdy

Smarts Daily Currency Note – 29th January 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 29th January 2007

Currency

Rate

EURO

1.516

CY£

0.872

US$

1.960

CHF

2.459

CAN$

2.313

AUS$

2.532

Comments: Sterling has fallen back slightly from its highs. Will be an interesting week as various central banks are meeting and we wait for their views on their respective economies, inflation figures and interest rates.

Note: All rates are mid market inter bank and indicative at the point of publication.

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.



Posted January 27th, 2007 by Charles Purdy

Smarts Weekly Currency Note – 26th January 2007

Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers
Weekly Currency Interbank Exchange Rates `26th January 2007

Currency
Rate Last
Week
Rate This
Week
EURO
1.523
1.516
CY£
0.871
0.870
US$
1.973
1.960
CAN$
2.314
2.313
AUS$
2.498
2.532
NZD
2.837
2.816

CHF

2.464
2.454

ZAR(Rand)

14.145
14.265

Charles’s Thoughts: Sterling continues to hold its own. At the start of the week it hit highs against both the Euro and the US$. However, the market was surprised to hear that the Bank of England only voted to increase interest rates by 0.25% by five votes to four. Also the Governor of the Bank of England has gone on record as saying that he expects inflation to fall dramatically during the course of the year. It is current wage negotiations which are of concern and their affect on inflation.

The future direction of the US$ is still uncertain. Sterling pushed up over 1.99 at the start of the week but has since fallen by nearly three cents. It’s a case of waiting and seeing. Still a very good rate for buying US$’s.

The Euro has many friends at these levels and looks a good buy. As I have mentioned before the German economy is looking strong and as such could lead to the Euro strengthening. As per the US$ it seems like a good time to buy Euros.

The Aus$ and the Can$ suffered this week. Inflation in Australia was weaker than expected and Canada is very dependent on the US for exports

Why is Currency Management So Important? When did we last have a Euro over 1.50? Clients have been able to lock in significant gains against their original target exchange rates using forward contracts. Exchange rates do not move in one direction. Six months ago the market was talking about 1.40! These “savings” pay for a lot of furniture, meals out, etc.

Smart Client Testimonial: “I thought the service provided by Smart to be helpful and efficient. It also offered competitive rates of exchange in addition to information on current trends of currency rates. I will certainly continue to use Smart’s services for future transactions” C.P. Mortimer, Lymington

If you haven’t opened a Smart account yet, call me on freephone 0808 153 0102 or fill out our online Account Form at: http://www.smartcurrencyexchange.com/application.htm

How much will a Property Cost? To estimate the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above. But note this is based on the inter bank rate so the actual cost will be slightly more.


Smart Resources

Currency Strategy Worksheet
Need help creating a Currency Strategy? Download our Currency Strategy Worksheet:
http://www.smartcurrencyexchange.com/downloads/CurrencyStrategyWorksheet.pdf

Currency Report
Have your read our 10-page Currency Report that outlines the top 3 mistakes that overseas buyers make when exchanging and transferring their money overseas? Get the report here:
http://www.smartcurrencyexchange.com/downloads/ThreeMistakes.pdf

Currency Quotation
Are you interested in a currency rate for Euros, US$’s, CYP, NZD, or any other currency, please fill out our Smart quotation form at:
http://www.SmartCurrencyExchange.com/smartquotation.htm


Smart Currency Exchange Limited


Posted January 25th, 2007 by Charles Purdy

Smarts Daily Currency Note – 25th January 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 25th January 2007

Currency

Rate

EURO

1.518

CY£

0.872

US$

1.969

CHF

2.454

CAN$

2.322

AUS$

2.528

Comments: Sterling has pulled back slightly from highs against the Euro and the US$ given the closer than expected vote by the Bank of England committee [5 votes to 4] to raise interest rates by 0.25%. Also the Governor of the Bank of England has intimated that we are close to highs in the interest rate cycle. This would suggest that we are close to exchange rate highs especially against the Euro, given that Euro land expects to raise interest rates over the next year.

Note: All rates are mid market inter bank and indicative at the point of publication.

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.



Posted January 23rd, 2007 by Charles Purdy

Smarts Daily Currency Note – 23rd January 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 23rd January 2007

Currency

Rate

EURO

1.528

CY£

0.872

US$

1.982

CHF

2.457

CAN$

2.343

AUS$

2.510

Comments: Sterling has continued to strengthen on the back of upbeat economic forecasts. I don’t see any weakness short term in sterling.

Note: All rates are mid market inter bank and indicative at the point of publication.

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.



Posted January 20th, 2007 by Charles Purdy

Smarts Weekly Currency Note – 19th January 2007

Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers
Weekly Currency Interbank Exchange Rates `19th January 2007

Currency
Rate Last
Week
Rate This
Week
EURO
1.513
1.523
CY£
0.865
0.867
US$
1.959
1.973
CAN$
2.288
2.314
AUS$
2.500
2.498
NZD
2.836
2.837

CHF

2.444
2.464

ZAR(Rand)

14.144
14.145

Charles’s Thoughts: Sterling has held its own following the 0.25% increase in UK interest rates. The market is still concerned about inflation and further increases in interest rates. This change of sentiment will support sterling in the short and medium term but it has to be remembered that not long ago we were looking at reduced interest rates. Also we have to note that the stronger pound will make exports less competitive.

The future direction of the US$ is still uncertain. Economic data out of the US was better than expected last week which supports the expectation of no interest rate cuts short term, thereby supporting the US$. However the budget and balance of payment deficits and the diversification of other countries reserves out of US$’s are still weighing heavily against the US$. The world seems to think that the US$ is overvalued.

I still feel the Euro has some significant strengths given the state of the German economy and the over accommodative interest rate policy. It will be interesting to see if interest rates are raised at the next ECB meeting. Also the main beneficiary of the diversification out of US$ is the Euro

The Swiss franc continues to suffer given the low Swiss interest rates and carried trades. There was little movement in the commodity backed currencies apart from the Can$ which weakened in line with the US$.

Why is Currency Management So Important? When did we last have a Euro over 1.50? Clients have been able to lock in significant gains against their original target exchange rates using forward contracts. Exchange rates do not move in one direction. Six months ago the market was talking about 1.40! These “savings” pay for a lot of furniture, meals out, etc.

Smart Client Testimonial: “I thought the service provided by Smart to be helpful and efficient. It also offered competitive rates of exchange in addition to information on current trends of currency rates. I will certainly continue to use Smart’s services for future transactions” C.P. Mortimer, Lymington

If you haven’t opened a Smart account yet, call me on freephone 0808 153 0102 or fill out our online Account Form at: http://www.smartcurrencyexchange.com/application.htm

How much will a Property Cost? To estimate the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above. But note this is based on the inter bank rate so the actual cost will be slightly more.


Smart Resources

Currency Strategy Worksheet
Need help creating a Currency Strategy? Download our Currency Strategy Worksheet:
http://www.smartcurrencyexchange.com/downloads/CurrencyStrategyWorksheet.pdf

Currency Report
Have your read our 10-page Currency Report that outlines the top 3 mistakes that overseas buyers make when exchanging and transferring their money overseas? Get the report here:
http://www.smartcurrencyexchange.com/downloads/ThreeMistakes.pdf

Currency Quotation
Are you interested in a currency rate for Euros, US$’s, CYP, NZD, or any other currency, please fill out our Smart quotation form at:
http://www.SmartCurrencyExchange.com/smartquotation.htm


Smart Currency Exchange Limited


Posted January 19th, 2007 by Charles Purdy

Smarts Daily Currency Note – 19th January 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 19th January 2007

Currency

Rate

EURO

1.521

CY£

0.869

US$

1.974

CHF

2.453

CAN$

2.317

AUS$

2.503

Comments: Economic data coming out here in the UK continues to support sterling especially against the Euro. I don’t expect a weakening in sterling any time soon. The US has also had positive economic data which indicates that we aren’t likley to see any cuts in US interest rates any time soon. This has NOT had any short benefit for the US$. Perhaps the fundamentals hae got the upper hand unlike here in the UK!

Note: All rates are mid market inter bank and indicative at the point of publication.

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.



Posted January 18th, 2007 by Charles Purdy

January Newsletter

Dear Reader

Happy New Year!

This month’s Smart eNewsletter includes the following:

- M&S Vouchers Winner

- A note from last months winner – Victor Braint

- Buying Overseas: Become an Information Hog

- Your Stories: by Smart Client David Axon – (It’s hysterical)

- Euro, Cypriot Pound and US Dollar by Charles Purdy, Smart Director

- Service Review – Travel Insurance

- Smart Client Feedback

Anyway….I hope you had a great Christmas and didn’t eat too much!
I definitely ate way too much, so it’s healthy eating for me for a
while… lets see how long that lasts!

Did you spend the holidays in the UK or perhaps overseas?
Going abroad during the festive season is something that I have
never done and wonder what it would be like!? Perhaps I’ll give
it a go one year?

Well the madness definitely didn’t slow down here at Smart over
the Christmas period. With the rates being as they are at the
moment, the level of business has been incredible.

Our sister company, The Overseas Guides Company, has been
equally busy. This company produces guides to help educate
people on the overseas property buying and investment process.

I have learnt so much from reading these guides myself and
wondered
if you would like a copy of the main Overseas Guide
at no cost
(value £12.97) by clicking on this special link:

http://www.OverseasBuyingGuides.com/Smart.htm

This is for Smart subscribers ONLY, so please do not forward
this link!

Again this month we have had our prize draw for the £250
M&S vouchers, so look below to see if it is you! If you are
unaware of our monthly draw, it is a reward we offer for people who
have referred their friends/family/colleagues to us in order
for them to also benefit from our service. So if you know of
anyone that needs to save money moving it overseas, please
email me their details.

Rebecca@SmartCurrencyExchange.com


Until next month – think Smart,

Becks
Client Relationships
Smart Currency Exchange Ltd

M&S Vouchers Winner

The winner of this months prize draw is:

Mark Herrington from Essex!

Great job Mark! Your £250.00 M&S
vouchers will be sent to you soon, so
keep a look out for them :)

CONGRATULATIONS!


M&S Vouchers Last months Winner comments

“As I progressed through your newsletter – what a
surprise ! ! ! My name appeared as the M & S voucher
winner !!! How cool is that?

When I told my wife she could not believe it. It looks
like we will be hitting the January sales after all.

Thank you so much.”

Victor Braint


Buying Overseas: Become an Information Hog.
Taken from the Overseas Buying & Property Investment Guide

If you haven’t yet purchased a property, start to gather
Information – both positive and negative – on the
country that you’re interested in buying in. To give you
some resources you can…

1. Talk Friends/Family/Associates/Property-
Investors that have a property in the
country or region that you’re interested in. You may
not know anyone now who has a home or
investment property there, but I guarantee
once you start talking about your plans,
you’ll find someone that knows someone
that lives there – it’s a very small world!

2. Pick out a few magazines from a newsagent
or
WH Smith:

There are several overseas property magazines in
the larger stores.

3. Scan the property sections located in the
Sunday papers for articles, properties for
sale and any information pertinent to your
prospective area.

4. Consider attending overseas property
trade shows and/or free information
seminars. These are often held in hotels
and centres across the country. Check out
the
Route 1 Exhibition next week…

5. Surf the Web – there are an incredible
number of websites focusing on helping
and providing resources to overseas
buyers. Go to
www.google.com and do a
search on “Your Region”+”Properties for
Sale” (For example: “French+Properties
for Sale”)

6. Contact the tourist offices – many are also
online. To name a few:

- Spain: http://www.tourspain.co.uk/

- Italy: http://www.enit.it

- France: http://www.francetourism.com/

- Bulgaria: http://www.btch.org/index.htm

- Greece: http://www.gnto.gr/?langID=2

- Portugal: http://www.portugal.org

- Switzerland: http://uk.myswitzerland.com

- USA/Florida: http://www.flausa.com/

- USA/New York: http://www.iloveny.com/


Big HUGE Note: This is so important! While
you’re in the process of gathering information, it
is imperative that you force yourself to
investigate the negatives too!

When my in-laws moved to Spain, everyone
they spoke to gave rave reviews – it was all rosy
and wonderful…and that’s because they didn’t
want to hear about any negative facts or stories.

Once they actually moved to Spain, they
unfortunately realised the high crime and
experienced cons offered by rogue builders.

Had my parents asked more people
and investigated their choices, they would have
had more realistic expectations and avoided
quite a huge loss of time and money. So – it’s
very important to search for the truth; not what
you wish it to be.

And remember – magazines, trade show
representatives and overseas property providers
make money by selling properties – not all of
them consider your best interests….

Take everything they say with a pinch of salt.
Make sure to research alternative information
and sources unless a service comes highly
recommended and is know in the industry for
providing value.

To get YOUR Overseas Property Buying &
Investment Guide at no cost (retails for £12.97)
go to:

http://www.OverseasBuyingGuides.com/Smart.htm

Provided by the The Overseas Guides Company Ltd
All Rights Reserved


Your Stories: by Smart Client David Axon

This story is hysterical and I just had to share it, so
thank you Dave!

“Rebecca,

Thanks for the update.

Well, my first transfer went very well thank you, so
I am no longer a Smart virgin (shouldn’t that be a Smug
virgin?).

This was the second deposit on my little house in
Andalucia, or Andalusia depending on which Spanish
wine you are drinking.

I am now trying to source a mortgage to secure the property
in case I can’t sell my UK house in time (I would then lose
all deposits and the house – a scary thought).

Posted January 17th, 2007 by Charles Purdy

Smarts Daily Currency Note – 17th January 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 17th January 2007

Currency

Rate

EURO

1.520

CY£

0.867

US$

1.965

CHF

2.453

CAN$

2.309

AUS$

2.503

Comments: Sterling is still hovering around 1.515 inter bank. The UK inflation figure released yesterday was close to 3%. As such this lends support for further UK interest rate increases thereby lending additional support to sterling. We don’t see sterling having any weakness short term! The US$ continues to oscillates around the 1.95 rate with no real momentum either way.

Note: All rates are mid market inter bank and indicative at the point of publication.

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.



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