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Posted February 28th, 2007 by Charles Purdy

Smarts Daily Currency Note – 28th February 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 28th February 2007


Currency

Rate

EURO

1.482

CY£

0.850

US$

1.956

CHF

2.391

CAN$

2.283

AUS$

2.484

Comments: Sterling lost a bit of ground yesterday against the Euro and the US$. It is drifting towards the bottom of its ranges. The major news yesterday was the fall out in the equity markets across the world. This lent support to the “low risk” and safe haven currencies i.e. the yen and the Swiss franc and may well lead to weakness in the carry trade currencies e.g. the New Zealand dollar. We also had weakness in the rand as the South African government is looking to tax the super profits the mining companies have been making.

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 February 27th, 2007 by Charles Purdy

Smarts Daily Currency Note – 27th February 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 27th February 2007

Currency

Rate

EURO

1.487

CY£

0.854

US$

1.966

CHF

2.406

CAN$

2.279

AUS$

2.477

Comments: Sterling continues to be steady against the Euro and the US$. I expect their respective trading ranges to be fairly narrow as the market waits for any significant news to influence it one way or the other. The US is still trying to engineer a soft landing for its economy following the tightening in interest rates and the pull back in the housing market. Euro land is still moving forward strongly especially in Germany. The UK’s economy is also buoyant. So we wait for the next trigger to move 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 February 24th, 2007 by Charles Purdy

Smarts Weekly Currency note – 23rd February 2007

Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers
Weekly Currency Interbank Exchange Rates `23rd February 2007

Currency
Rate Last
Week
Rate This
Week
EURO
1.485
1.491
CY£
0.855
0.858
US$
1.950
1.964
CAN$
2.269
2.277
AUS$
2.481
2.480
NZD
2.801
2.778

CHF

2.408
2.420

ZAR(Rand)

14.012
13.881

Charles’s Thoughts: A quiet week with sterling holding its own after a bad week last week. Sterling was helped by positive data about business investment growing at the fastest pace in more than a decade in the final quarter of 2006. The market is still expecting an increase of 0.25% in UK interest rates later this year.

The US$ also had an okay week supported to some extent by the hawkish tone being maintained by the Fed on inflation. Still some fundamental problems for the US$ not least the funding of its balance of payments deficit. Until any significant news comes out the US$ will continue to move in a narrow range between 1.94 and 1.98.

The Euro having gained over 4 cents against sterling in a short period suffered a slight pull back. Although we are off last months highs still very good rates for buying the Euro. The ECB is expected to increase interest rates by 0.25% in March.

The NZD continued to strengthen against sterling as did the Rand.

Why is Currency Management So Important? We have seen rapid and significant movements in the Euro against sterling in the last month. Gains of over 2% for sterling followed by a rapid reversal whereby the gain was given back. You should never assume that exchange rate movements are one way and you should always set a target rate which takes the emotion out of decisions. Having to find another few thousand pounds hurts and if you hit your target rate secure it.

Smart Client Testimonial: “I found the Smart Currency website after searching the Internet. I exchanged a lot of money to buy a property abroad. I felt at ease with all the people involved at Smart Currency Exchange and was more than happy with the service I received.” Martin Rowland, London

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 February 19th, 2007 by Charles Purdy

Smarts Daily Currency Note – 19th February 2007

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

Currency

Rate

EURO

1.481

CY£

0.854

US$

1.949

CHF

2.401

CAN$

2.267

AUS$

2.477

Comments: The Euro continues to strengthen against sterling as does the US$ and most other currencies. Couple of reasons. The first being that sterling had clearly been over bought and the Euro over sold which meant that a correction was likely. The second is that inflationary pressure in the UK is considered to be waning especially given the negative affect a strong sterling had on exports. Still a good rate for buying the Euro and the US$ given the rates for the last two years prior to January’s movement.

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 February 16th, 2007 by Charles Purdy

Smarts Weekly Currency Note – 16th February 2007

Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers
Weekly Currency Interbank Exchange Rates `16th February 2007

Currency
Rate Last
Week
Rate This
Week
EURO
1.499
1.485
CY£
0.863
0.855
US$
1.948
1.950
CAN$
2.291
2.269
AUS$
2.511
2.481
NZD
2.851
2.801

CHF

2.436
2.408

ZAR(Rand)

13.944
14.012

Charles’s Thoughts: Sterling continues to fall against a wide range of currencies. This happened even with the Governor of the Bank of England seeming to suggest that UK interest rates could be raised further given the Banks concerns over inflation. The poor retail figures for January would appear to have made the market discount these inflation fears. Sterling has lost its “flavour of the month” status.

The Fed Chief spent a couple of days this week giving his opinion to the US Senate. He thought inflation was under control, interest rates were at the right level and that the US economy was more robust that people realised. The Senate gave him top marks for his handling of events to date. Could be a case of the King’s new clothes. The US$ has been in a narrow range for the last few weeks. However, we did see a major shift in the funding of the US balance of payments deficit this month – i.e. it didn’t happen, as there was a net outflow of US$’s. Could this be the start of even more problems with no one wanting US$’s and the US being unable to fund it’s extraordinary deficit?

The Euro has gained over 4 cents against sterling from its highs of last month. The European Central Bank is concerned about inflation and likely to raise interest rates. The German economy is going from strength to strength. You may have missed the short term high but the Euro buying rate is still very good when compared to the last two years. Remember the lows of last year were under 1.44

Sterling was weak across the board so we saw gains for the Aus$ and Can$ but again the rates are very good when you look back over the last year.

Why is Currency Management So Important? Thankfully a lot of clients secured rates in excess of over 1.50 against the Euro and locked in significant savings against their original budgeted cost. However it still isn’t too late to secure rates that people could only have dreamed of at the start of last year. The downside risk is 2-3%. You just have to get your currency strategy going now so as to avoid the possible extra cost.

Smart Client Testimonial: “I found the Smart Currency website after searching the Internet. I exchanged a lot of money to buy a property abroad. I felt at ease with all the people involved at Smart Currency Exchange and was more than happy with the service I received.” Martin Rowland, London

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 February 16th, 2007 by Charles Purdy

Smarts Daily Currency Note – 16th February 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 16th February 2007

Currency

Rate

EURO

1.485

CY£

0.856

US$

1.949

CHF

2.409

CAN$

2.271

AUS$

2.484

Comments: Sterling continues to slip slide away against the Euro. Poor retail figures for January didn’t help. However it has to be remembered that this is still a very good rate when compared to most of last year. So beware there is still downside. The US$ enjoyed a bit of respite as the Fed Chief continued his discourse to the US Senate stating that the US economy was in a more robust state than people thought.

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 February 14th, 2007 by Charles Purdy

Smarts Daily Currency Note – 14th February 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 14th February 2007

Currency

Rate

EURO

1.490

CY£

0.861

US$

1.952

CHF

2.425

CAN$

2.227

AUS$

2.495

Comments: The party could be over for sterling. The consumer price inflation figure fell to 2.7% in January on the back of lower energy prices. This contrasts with Euro land where business confidence continues to improve, especially in Germany. The likelihood of two 0.25% interest rate rises in Euro land is ever more likely. With regards to the US$ we wait for the Fed Chairman’s testimony to the US congress to give his views on the US economy including inflation.

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 February 13th, 2007 by Charles Purdy

Smarts Daily Currency Note – 13th February 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 13th February 2007

Currency

Rate

EURO

1.500

CY£

0.864

US$

1.950

CHF

2.438

CAN$

2.291

AUS$

2.519

Comments: No real news to move the market for sterling against either the Euro or the US$. We are expecting news out of the US during the week as the Fed Chief talks to Congress. Will be very interesting to see his views on inflation as this will be a key indicator on US interest rates and their likely direction.

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 February 12th, 2007 by Charles Purdy

Smarts DAilyCurrency Note – 12th February 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 12th February 2007

Currency

Rate

EURO

1.499

CY£

0.864

US$

1.947

CHF

2.434

CAN$

2.283

AUS$

2.517

Comments: Sterling is sitting at a support level against the Euro. It will be interesting to see if this support level holds as it will mean that short to medium term the downside for sterling will be at current levels against the Euro. If it breaks through we could see a push back to 1.47ish. The US$ is also at the lower end of its narrow trading range against 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.


email: Charles@SmartCurrencyExchange.com
free phone: < ?XML:NAMESPACE PREFIX = SKYPE />0808 163 0102
web: http://www.SmartCurrencyExchange.com

Posted February 9th, 2007 by Charles Purdy

Smarts Weekly Currency Note – 9th February 2007

Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers
Weekly Currency Interbank Exchange Rates `9th February 2007

Currency
Rate Last
Week
Rate This
Week
EURO
1.517
1.499
CY£
0.871
0.863
US$
1.969
1.948
CAN$
2.330
2.291
AUS$
2.540
2.511
NZD
2.890
2.851

CHF

2.454
2.436

ZAR(Rand)

14.199
13.944

Charles’s Thoughts: Sterling fell back sharply following the Bank of England’s decision to keep interest rates on hold. The market is wondering if the interest rate cycle here in the UK has reached its peak. The BOE expects inflation to come down sharply in the second half of the year as energy costs come down. British Gas has announced a steep reduction in energy prices from next month which supports this view. In fact it may move forward the time line for a significant reduction in inflation. Sterling has lost some of its lustre.

I know I am repeating myself yet again but the future direction of the US$ continues to be uncertain. The US$ gained on the back of weaker sterling. The US$ has continued to be able to fund its balance and budget deficits, so short term this isn’t a major drag. It really comes down to if or when this becomes more difficult. We continue to wait! Still good rates to buy US$’s when compared to the last two years.

The Euro gained a couple of cents against sterling. The European Central Bank also kept interest rates on hold this week but the statement that accompanied this announcement stated that the ECB would exert “strong vigilance” with regard to inflation. The market has taken this to mean that a 0.25% interest rate rise in Euro rates is a near certainty in March. Still good rates to buy Euros when compared to the last two years.

Sterling was weak across the board so we saw gains for the Aus$, Can$ and the Rand.

Why is Currency Management So Important? Thankfully a lot of clients secured rates in excess of over 1.50 against the Euro and locked in significant savings against their original budgeted cost. They now don’t care if sterling goes into free fall against the Euro. By setting target rates and acting on them when they were available they minimised the should I/shouldn’t I discussion.

Smart Client Testimonial: “Everything was excellent. Service went according to plan. No hitches. Your specialist was so helpful especially to an old pensioner like myself. I will use Smart Currency again.” IJO Bond, Merseyside

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

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