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Posted February 9th, 2007 by Charles Purdy

Smarts Daily Currency Note – 9th February 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 9th February 2007


Currency

Rate

EURO

1.497

CY£

0.863

US$

1.947

CHF

2.432

CAN$

2.306

AUS$

2.499

Comments: Sterling continues to weaken following the decision by the Bank of England to keep interest rates on hold and the belief that we may have reached the top of the interest rate cycle here in the UK. The European Central Bank also kept rates on hold and stated they need to exercise “strong vigilance” on inflation. This is taken as a sign that the ECB will increase interest rates in March.

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 8th, 2007 by Charles Purdy

Smarts Daily Currency Note – 8th February 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 8th February 2007

Currency

Rate

EURO

1.507

CY£

0.870

US$

1.959

CHF

2.445

CAN$

2.324

AUS$

2.511

Comments: Interest rates were kept on hold by the Bank of England and the European Central Bank. This had a greater impact on sterling as it had been “hoped” that interest rates would be increased here. The ECB has also heightened its watch on inflation to vigilant. Sterling has lost a cent against both the Euro and the US$ since mid day.

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 7th, 2007 by Charles Purdy

Smarts Daily Currency note – 7th February 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 7th February 2007

Currency

Rate

EURO

1.517

CY£

0.871

US$

1.970

CHF

2.443

CAN$

2.331

AUS$

2.533

Comments: Another steady day for sterling. Thursday is going to be an interesting day with the Bank of England and the European Central Bank meeting and making announcements on their respective interest rates. Both are expected to keep rates on hold but following last months surprise increase here in the UK and continued upward pressure on inflation we may be in for further surprises.

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 6th, 2007 by Charles Purdy

Smarts Daily Currency Note – 6th February 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 6th February 2007

Currency

Rate

EURO

1.517

CY£

0.871

US$

1.960

CHF

2.449

CAN$

2.320

AUS$

2.530

Comments: Sterling fell back slightly against the US$ as there were small falls in various economic indicators such as new business and employment expectations. Against the Euro it was steady. In Euro land there was an improvement in business activity in German, France and Italy. It is still expected that interest rates will be increased by the ECB in March. Labour data in New Zealand indicate that there could be further increases in interest rates. This will lend further support to the carried trade.

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 2nd, 2007 by Charles Purdy

Smarts Weekly Currency Note – 2nd February 2007

Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers
Weekly Currency Interbank Exchange Rates `3rd February 2007

Currency
Rate Last
Week
Rate This
Week
EURO
1.516
1.517
CY£
0.871
0.871
US$
1.960
1.969
CAN$
2.313
2.330
AUS$
2.532
2.540
NZD
2.816
2.890

CHF

2.454
2.454

ZAR(Rand)

14.265
14.199

Charles’s Thoughts: Sterling had a steady week against the Euro and the US$. UK economic news and data has been limited this week. Interest rates are still a key factor and rates here in the UK are not expected to come down in the short term. Steady as she goes.

The future direction of the US$ continues to be uncertain. The Fed kept interest rates on hold this week. US economic data was okay but most outsiders are still wary. Countries such as China and Japan are expected to diversify their reserves into Euros. This may not mean selling the US$’s they already hold. More likely they will put a proportion of the ongoing surpluses into the Euro. This will make it more difficult for the US to fund its balance of payment deficit which will increase the pressure on the US$.

The Euro still looks to be over sold. The major short term influence is that the interest rate for the Euro is a lot less than sterling’s or the US$’s. This is likely to change as interest rates in Euro land are expected to go up in March.

The Aus$ continues to weaken. It has pushed up close to 2.55. Will be interesting to see if it can push up towards 2.60.

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. Remember, exchange rates do not move in one direction. It hurts when you have to find extra funds.

Smart Client Testimonial: “SMART were supportive and responsive during, what was for us, a very new transaction. With their help, buying a property in Spain proved to be an exciting and trouble free experience.” Marlyn Tyzack, Surrey

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 2nd, 2007 by Charles Purdy

Smarts Daily Currecny Note – 2nd February 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 2nd February 2007

Currency

Rate

EURO

1.519

CY£

0.871

US$

1.969

CHF

2.444

CAN$

2.327

AUS$

2.548

Comments: Another steady day for sterling. No real news to change the equilibrium with either the Euro or the US$. We continue to move in fairly narrow ranges and await further information to dictate 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 1st, 2007 by Charles Purdy

Smarts Daily Currency Note – 1st February 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 1st February 2007

Currency

Rate

EURO

1.509

CY£

0.871

US$

1.965

CHF

2.445

CAN$

2.312

AUS$

2.535

Comments: Sterling is drifting down slowly against the Euro. No real news to benefit either currency relative to the other. Important to note that they are still very good rates when compared to last year. The US$ benefited from US interest rates being kept on hold but overall lost out as some of the economic data for the industrial sector was weaker than expected. Overall the movement is within a fairly narrow range of 1.95 to 1.97.

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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