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Posted June 28th, 2007 by Charles Purdy

Message created 6/28/2007 6:08:00 AM

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


Currency

Rate

EURO

1.488

CY£

0.862

US$

1.999

CHF

2.458

CAN$

2.138

AUS$

2.374

Comments: Another steady day for sterling. The US Fed meets today and the Market awaits its announcement on US interest rates and their view on the US economy.

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.


© 2005 – 2007 Copyright Smart Currency Exchange Ltd

THIS PUBLICATION DOES NOT CONSTITUTE ADVICE WITHIN THE TERMS OF THE FINANCIAL SERVICES ACT (OR ANY SUBSEQUENT REVISIONS, ADDITIONS, OR AMENDMENTS).

Disclaimer

Exchange rates can move very quickly. The above rates are valid at a moment in time.
Suggestions should not be taken as advice or fact. The market does what it wants to do. We have no crystal ball and as ever we recommend that if an exchange rate works for your budget then don’t try and wait for an even better exchange rate, as Murphy’s Law says the rate will go against you and cause you maximum pain!

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Posted June 28th, 2007 by Charles Purdy

Message created 6/28/2007 5:53:32 AM

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

Currency

Rate

EURO

1.488

CY£

0.862

US$

1.999

CHF

2.458

CAN$

2.138

AUS$

2.374

Comments: Another steady day for sterling. The US Fed meets today and the Market awaits its announcement on US interest rates and their view on the US economy.

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.


© 2005 – 2007 Copyright Smart Currency Exchange Ltd

THIS PUBLICATION DOES NOT CONSTITUTE ADVICE WITHIN THE TERMS OF THE FINANCIAL SERVICES ACT (OR ANY SUBSEQUENT REVISIONS, ADDITIONS, OR AMENDMENTS).

Disclaimer

Exchange rates can move very quickly. The above rates are valid at a moment in time.
Suggestions should not be taken as advice or fact. The market does what it wants to do. We have no crystal ball and as ever we recommend that if an exchange rate works for your budget then don’t try and wait for an even better exchange rate, as Murphy’s Law says the rate will go against you and cause you maximum pain!

Posted June 28th, 2007 by Charles Purdy

Message created 6/28/2007 5:12:58 AM

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

Currency Rate
EURO 1.485
CY£ 0.860
US$ 1.995
CHF 2.452
CAN$ 2.141
AUS$ 2.369

Comments: A steady day from sterling yesterday ending up where we started from against most currencies. The housing figures out of the US were slightly worse than expected which didn’t help the US$ but the market is waiting for the Fed meeting starting to date to give some real direction. US interest rates are expected to be kept on hold [it would be a major shock if anything different happened] but it is the Feds view on the economy and inflation that will be watched eagerly.

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.

© 2005 – 2007 Copyright Smart Currency Exchange ltd

THIS PUBLICATION DOES NOT CONSTITUTE ADVICE WITHIN THE TERMS OF THE FINANCIAL SERVICES ACT (OR ANY SUBSEQUENT REVISIONS, ADDITIONS, OR AMENDMENTS).

Disclaimer

Exchange rates can move very quickly. The above rates are valid at a moment in time.
Suggestions should not be taken as advice or fact. The market does what it wants to do. We have no crystal ball and as ever we recommend that if an exchange rate works for your budget then don’t try and wait for an even better exchange rate, as Murphy’s Law says the rate will go against you and cause you maximum pain!

Posted June 28th, 2007 by Charles Purdy

Smarts Daily Currency Note – 28th June 2007

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

Currency

Rate

EURO

1.488

CY£

0.862

US$

1.999

CHF

2.458

CAN$

2.138

AUS$

2.374

Comments: Another steady day for sterling. The US Fed meets today and the Market awaits its announcement on US interest rates and their view on the US economy.

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 June 26th, 2007 by Charles Purdy

Smarts Daily Currency Note – 26th June 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 26th June 2007

Currency

Rate

EURO

1.485

CY£

0.860

US$

1.997

CHF

2.452

CAN$

2.141

AUS$

2.359

Comments: Sterling continues to benefit from a buoyant economy and the expectation of increasing interest rates. The US$ has pushed back toward 2 as the concerns over the US economy are again coming to the fore. Various key US economic announcements are made this week so we wait to see what these produce and what the effect is.

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 June 22nd, 2007 by Charles Purdy

Smarts Weekly Currency Note – 22nd June 2007

Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers
Weekly Currency Interbank Exchange Rates 22nd June 2007

Currency
Rate Last
Week
Rate This
Week
EURO
1.480
1.485
CY£
0.856
0.861
US$
1.970
1.999
CAN$
2.095
2.142
AUS$
2.357
2.355
NZD
2.624
2.604

CHF

2.454
2.461

ZAR(Rand)

14.076
14.242

Charles’s Thoughts: The voting at the last Bank of England meeting was much closer than the market expected with there being a 5-4 vote in favour of keeping UK interest rates on hold. The 4 were voting for an increase. This has increased the likelihood of UK interest rates being increased and given the public concerns of the BOE on inflation the first increase is likely to happen very soon. A further increase by the year end is a high possibility so 6% here we come! Not long ago UK interest rates of 5% were considered unlikely. Just shows how wrong people can be. Is 7% a possibility? Unlikely but not impossible. Sterling is going to be supported medium and long term by increasing interest rates.

The US$ weakened towards the end of the week. It is still trading in a fairly narrow range and is finding itself close to the top of this range as US economic data was slightly weaker than expected this week. Still mixed thoughts about where to next for the US$. Fundamentals are against the US$ [the twin deficits]. Interest rates are on hold and I suspect unlikely to move either way for a while [famous last words!]. But we have to remember that the rest of the world holds vast amounts of US$’s and they wouldn’t want these US$ assets to depreciate.

The Euro continued to drift around 1.485 inter bank. Some days we see a bit of strength from the Euro, other days a bit of weakness. Both sterling and the Euro are in an increasing interest rate environment with growing economies. Therefore unless there is a significant and unexpected change in something such as interest rates we are likely to be hovering around this rate for a while.

The New Zealand dollar continues to enjoy a lot of support as it is the currency of choice for the carried trade [borrow in low interest currencies such as the yen and invest in high yield such as the New Zealand dollar]. The New Zealand central bank is concerned angd has tried to intervene in the markets. Never a sensible choice. Needless to say their intervention had a [very] short term effect.

Why is Currency Management So Important? Using a bank could cost you £3-4,000 per £100,000 transferred. Buying at the “wrong” time could cost you many £’000′s more as rates can move as much as 3% in a very short period of time. Then add in transfer costs that the banks charge for sending and receiving funds and you could be looking at additional costs of £10,000 per £100,000 transferred. By developing a currency strategy and by working with a specialist currency broker these losses could be minimised if not eliminated.

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 163 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.

Charles Purdy
Charles Purdy


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 June 21st, 2007 by Charles Purdy

Smarts Daily Currency Note – 21st June 2007

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 21st June 2007

Currency

Rate

EURO

1.489

CY£

0.863

US$

1.993

CHF

2.474

CAN$

2.126

AUS$

2.356

Comments: The Bank of England vote at the last meeting on UK interest rates was much closer than expected [5 to 4 to keep rates on hold rather than raise them] and the split was also interesting. The Governor of the BOE voted to increase rates while some of his colleagues voted to keep interest rates on hold. It’s unclear if his vote was tactical in that the vote was already lost as he votes last and he was making sure that the market was very clear that higher interest rates were on their way. Sterling will continue to be supported by increasing UK 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 June 20th, 2007 by Charles Purdy

Message created 6/20/2007 6:14:43 AM

Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates 20th June 2007

Currency

Rate

EURO

1.483

CY£

0.858

US$

1.990

CHF

2.466

CAN$

2.120

AUS$

2.349

Comments: The Bank of England minutes came out this morning which showed that it was a very close vote [5 to 4] as to whether or not UK interest rates should be increased. This was closer than expected and as such reinforces the support for steling.

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 June 19th, 2007 by Charles Purdy

Smarts Daily Currency Note – 19th June 2007

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

Currency

Rate

EURO

1.479

CY£

0.856

US$

1.985

CHF

2.462

CAN$

2.126

AUS$

2.353

Comments: Sterling continued to be supported as UK house price growth picked up pace in June and the Bank of England maintained its position of concern on 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 June 15th, 2007 by Charles Purdy

Smarts Weekly Currency Note – 15th June 2007

Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers
Weekly Currency Interbank Exchange Rates 15th June 2007

Currency
Rate Last
Week
Rate This
Week
EURO
1.473
1.480
CY£
0.853
0.856
US$
1.966
1.970
CAN$
2.095
2.095
AUS$
2.338
2.357
NZD
2.611
2.624

CHF

2.427
2.454

ZAR(Rand)

14.320
14.076

Charles’s Thoughts: At the start of the week the Governor of the Bank of England voiced his concerns over ongoing inflationary pressures and the possibility that they may need to raise UK interest rates further. 6% [currently 5.5%] has been pencilled in by the market as a possibility for UK interest rates by the end of the year. This gave sterling a fillip especially against the Euro. Sterling will be supported short to medium term by increasing UK interest rates.

The US$ had a steady week. We are seeing an improved US economic performance which has led to a very significant change in how US interest rates and their future movements are perceived. Instead of expecting interest rates to go down the market is beginning to think that the next move will be up. Quite a shift. I suspect the main benefit for the US$ will occur when there is an actual increase in US interest rates rather than being talked about.

TThe Euro has lost a bit of ground recently. Nothing overly significant but probably helpful for there exporters. Euro lands economy continues to prosper and Euro land interest rates are expected to be increased at least once more this year.

Commodities continue to prosper and we continue to see commodity backed currencies such as the Canadian and Australian dollars be strong. Don’t expect this to change any time soon. The Swiss franc continues to suffer and again don’t expect to this to change any time soon.

Why is Currency Management So Important? Using a bank could cost you £3-4,000 per £100,000 transferred. Buying at the “wrong” time could cost you many £’000′s more as rates can move as much as 3% in a very short period of time. Then add in transfer costs that the banks charge for sending and receiving funds and you could be looking at additional costs of £10,000 per £100,000 transferred. By developing a currency strategy and by working with a specialist currency broker these losses could be minimised if not eliminated.

Smart Client Testimonial: “Buying abroad is a daunting task at the best of times but Smart Currency Exchange made money transfer easy to understand and a simple process. I will (and have) recommended their services to friends and all.” Chris Houghton, Sleaford

If you haven’t opened a Smart account yet, call me on freephone 0808 163 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.

Charles Purdy
Charles Purdy


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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