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Posted September 28th, 2007 by Charles Purdy

Smarts Weekly Currency Note – 28th September 2007

 
  Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers  
Weekly Currency Interbank Exchange Rates 28th September 2007


Currency
Rate Last
Week
Rate This
Week
EURO
1.434
1.434
CY£
0.830
0.830
US$
2.020
2.041
CAN$
2.017
2.034
AUS$
2.334
2.303
NZD
2.719
2.694

CHF

2.370
2.381

ZAR(Rand)

14.138
14.048

Charles’s Thoughts:  Another difficult week for sterling. No major negative news this week. In fact the Bank of England made £10bn available in short term funding and there were no takers. However the sight of queues outside of a British bank with savers desperately trying to get their money out has not inspired confidence. All in all a major mess created by the BOE and the government. It will take a while for sterling to recover especially against currencies such as the Euro. It certainly seems a good time to bring funds back to the UK.

The US$ is under significant pressure continuing to hit all time lows against the Euro. US housing sales have collapsed. Recession seems more than likely. Really difficult to find anything positive as the economic problems the US faces are very significant. So I see no respite for the US$ in the short or medium term.

The Euro is enjoying itself. Economic data was positive with German unemployment down, euro zone money supply growth remaining strong and inflation data making Euro interest rate cuts highly unlikely. So the Euro is going from strength to strength and is likely to be strong for the foreseeable future. Sterling has regained some stability over the last ten days against the Euro but upside seems somewhat limited in the short term.

Sterling lost further ground against the Canadian $, the New Zealand dollar and the Australian dollar. The Canadian $ is backed by a very strong economy. The others have less economic power but do enjoy higher interest rates than sterling and this is certainly helpful short term.

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: “It’s not often that I get to write these e-mails but I wish to thank you and your colleagues for the recent service you provided in my currency transaction. I only wish my bank could be half as efficient!!” Kind regards Chris Parker

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

   


Smart Currency Exchange | 1 Hammersmith Grove | Hammersmith | London | W6 0NB | UK

© 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 the interbank rates and valid at a moment in time. The interbank rate is the rate at which the banks deal with each other in the foreign exchange markets. 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 suggest 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 September 27th, 2007 by Charles Purdy

Smarts Daily Currency Note – 27th September 2007

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

Currency

Rate

EURO

1.430

CY£

0.829

US$

2.024

CHF

2.368

CAN$

2.025

AUS$

2.297

Comments:  The Bank of England has set up a process whereby they will make funds available to banks on a regular basis. Yesterday they made available £10bn. There were no takers. Does this mean that the credit crunch is over or does it mean that the stigma of being a “forced” borrower from the BOE would be effectively a death wish given the problems of Northern Rock? Difficult to say at this stage we just have to wait and see what happens with the banks and there ability to maintain liquidity. For the last few days sterling has maintained its equilibrium against the Euro but still limited upside short term.

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.



Smart Currency Exchange | 1 Hammersmith Grove | Hammersmith | London | W6 0NB | UK

© 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!



SCE/OGC

1 Hammersmith Grove
London, London
W6 0NB
GB

If you no longer wish to receive communication from us:
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Posted September 26th, 2007 by Charles Purdy

Smarts Daily Currency Note – 26th September 2007

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

Currency

Rate

EURO

1.428

CY£

0.829

US$

2.019

CHF

2.359

CAN$

2.033

AUS$

2.314

Comments:  Poor economic data out of the US did not help its cause against sterling or the Euro. The UK also slipped on the back of continuing concerns about Northern Rock and the costs of deposit guarantee schemes. We are unlikely to see much upside for sterling against the Euro for a while.

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.



Smart Currency Exchange | 1 Hammersmith Grove | Hammersmith | London | W6 0NB | UK

© 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!



SCE/OGC

1 Hammersmith Grove
London, London
W6 0NB
GB

If you no longer wish to receive communication from us:
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Posted September 25th, 2007 by Charles Purdy

Smarts Weekly Currency Note – 25th September 2007

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

Currency

Rate

EURO

1.429

CY£

0.829

US$

2.010

CHF

2.359

CAN$

2.018

AUS$

2.329

Comments:  Sterling is still weak. Northern Rock and the uncertainty it has created will be with us for a while. Why would international investors who saw the queues of people standing outside a British bank desperately wanting to get their money back have confidence in sterling? So we are unlikely to see a significant improvement in sterling against currencies such as the Euro for a while.

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.



Smart Currency Exchange | 1 Hammersmith Grove | Hammersmith | London | W6 0NB | UK

© 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!



SCE/OGC

1 Hammersmith Grove
London, London
W6 0NB
GB

If you no longer wish to receive communication from us:
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Posted September 21st, 2007 by Charles Purdy

Smarts Weekly Currency Note – 21st September 2007

 
  Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers  
Weekly Currency Interbank Exchange Rates 21st September 2007

Currency
Rate Last
Week
Rate This
Week
EURO
1.450
1.434
CY£
0.843
0.830
US$
2.008
2.020
CAN$
2.067
2.017
AUS$
2.387
2.334
NZD
2.816
2.719

CHF

2.392
2.370

ZAR(Rand)

14.375
14.138

Charles’s Thoughts:  A very difficult week for sterling. The Northern Rock saga dragged on and even when the government stepped in to secure the savers funds, the U-turn by the Bank of England in pumping additional liquidity into the market led to further pressure on sterling. Some semblance of stability seems to have returned by the end of the week. I still think that sterling is over sold but any bad news will have a greater affect than good news short term. Still looks like a good time to repatriate funds to the UK

The US$ has hovered around US$2. The Fed made a pre emptive strike by cutting interest rates by 0.50% which was higher than expected and has given some comfort to the market. However the US$ is going to be under pressure for the foreseeable future. There are significant economic problems and a recession is possible. So no respite for the US$ short or medium term.

The Euro continues to be in the ascendancy continuing to hit all time highs against the US$ and hitting levels not seen for 18 month against sterling. The Euro has gained 5 cents against sterling in the space of two week. A very significant move and I suspect an excessive response to the mishandling of the liquidity crisis by both the BOE and the government. We should also note that market sentiment is that the European Central Bank will not increase interest rates as indicated. We wait and see. Certainly a good time to repatriate funds to the UK relative to two weeks ago.

Sterling continues to lose ground against the Canadian $, the New Zealand dollar and the Australian dollar. Not surprising given the problems noted above but I suspect again an over reaction. So it seems like a good time to repatriate funds.

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: “It’s not often that I get to write these e-mails but I wish to thank you and your colleagues for the recent service you provided in my currency transaction. I only wish my bank could be half as efficient!!” Kind regards Chris Parker

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

   


Smart Currency Exchange | 1 Hammersmith Grove | Hammersmith | London | W6 0NB | UK

© 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 the interbank rates and valid at a moment in time. The interbank rate is the rate at which the banks deal with each other in the foreign exchange markets. 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 suggest 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!



SCE/OGC

1 Hammersmith Grove
London, London
W6 0NB
GB

If you no longer wish to receive communication from us:
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To update your contact information:
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Posted September 11th, 2007 by Charles Purdy

Smarts Daily Currency Note – 11th September 2007

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 11th September 2007

Currency

Rate

EURO

1.470

CY£

0.854

US$

2.027

CHF

2.408

CAN$

2.127

AUS$

2.451

Comments:  The Euro is the main beneficiary of the current market turmoil. The European Central Bank still believes Euro land interest rates are too low as the economy is on the up and as such the markets believe at least one further increase in Euro interest rates will happen by the end of the year. The US is the complete opposite and seems to be heading for a recession with unemployment increasing last month. The markets are expecting the Fed to reduce interest rates later this month. The UK potters along in the middle ground, gaining against the US$ and losing against the Euro. If you see any weakness from the Euro could well be a good time to buy!

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.



Smart Currency Exchange | 1 Hammersmith Grove | Hammersmith | London | W6 0NB | UK

© 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!



SCE/OGC

1 Hammersmith Grove
London, London
W6 0NB
GB

If you no longer wish to receive communication from us:
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Posted September 7th, 2007 by Charles Purdy

Smarts Currency Note – 7th September 2007

 
  Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers  
Weekly Currency Interbank Exchange Rates 7th September 2007

Currency
Rate Last
Week
Rate This
Week
EURO
1.477
1.472
CY£
0.857
0.855
US$
2.017
2.027
CAN$
2.131
2.138
AUS$
2.475
2.457
NZD
2.873
2.944

CHF

2.435
2.408

ZAR(Rand)

14.455
14.692

Charles’s Thoughts:  We still live in interesting times. The banks are very cautious about lending to each other as they are still unsure where the losses relating to the bad US home loans finally end up. Also the banks are having to hoard cash as they are likely to find it very difficult to offload all the debt they have taken on funding the numerous private equity deals we saw in the first half of this year. In the midst of this uncertainty the Bank of England took the prudent approach and kept interest rates on hold. The BOE did take an unusual step by making an announcement stating that they were concerned about the credit markets and thought this uncertainty would dampen inflation in the short/medium term and this has led the market to believe that increased UK interest rates are unlikely in the short to medium term. Since this announcement sterling has steadily lost ground against the Euro.

The US$ is in trouble. Non farm payroll figures today showed a reduction [i.e. unemployment is on the up]. This was against market expectations [not sure why, it had to happen sometime soon!]. Is the US heading for recession? Will the rest of the world going to follow along? My guess for the first question is yes. For the second difficult to say as the Far East is still growing and becomes less dependent on the US by the day. But strangely the US has to go through tough times for the markets to regain confidence in the US$. However, this is unlikely to happen for a while. The Fed meets next week so we wait to see their thoughts and insights for the way ahead.

The Euro is the main beneficiary in the current climate gaining against sterling. The European Central Bank did meet and the ECB held Euro interest rates. However the ECB did announce that it felt that interest rates were still too accommodative [i.e. too low] and therefore would need to be increased sometime. This increase is unlikely in the short term but was more bullish than the BOE’s announcement on sterling. The Euro land economy still continues to move along nicely although it still has a degree of dependency on the US that means that it will be concerned about what is happening in the US.

The New Zealand dollar continues to collapse. New Zealand finance companies seem to be a dying breed. Another one failed this week. No respite likely short or medium term. The carried trade using the New Zealand dollar is only for the foolhardy.

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: “We where put in a position of getting money to Cyprus quickly. Smart Currency were fantastic, got our money to Cyprus on time. At a good rate. As it turned out the property was a nightmare – thank God we had a good independent lawyer. Don’t buy abroad without one.” Richard Johnson, Grimsby

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

   


Smart Currency Exchange | 1 Hammersmith Grove | Hammersmith | London | W6 0NB | UK

© 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 the interbank rates and valid at a moment in time. The interbank rate is the rate at which the banks deal with each other in the foreign exchange markets. 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 suggest 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!



SCE/OGC

1 Hammersmith Grove
London, London
W6 0NB
GB

If you no longer wish to receive communication from us:
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To update your contact information:
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Posted September 6th, 2007 by Charles Purdy

Smarts Daily Currency Note – 6th September 2007

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

Currency

Rate

EURO

1.482

CY£

0.861

US$

2.024

CHF

2.440

CAN$

2.130

AUS$

2.455

Comments:  Both the Bank of England and the European Central Bank make announcements today on their respective interest rates. The market expects sterling and the Euro interest rates to be held at current levels. What will be interesting will be the respective banks views on the current credit crunch and how this is affecting the wider business environment. Tomorrow we see the US non farm payroll figures which will indicate how the US economy is faring. People are beginning to get nervous and if the figures are below expectations then we could see some rapid weakness from the US$.

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.



Smart Currency Exchange | 1 Hammersmith Grove | Hammersmith | London | W6 0NB | UK

© 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!



SCE/OGC

1 Hammersmith Grove
London, London
W6 0NB
GB

If you no longer wish to receive communication from us:
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To update your contact information:
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Posted September 5th, 2007 by Charles Purdy

Smarts Daily Currency Note – 5th September 2007

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 5th September 2007

Currency

Rate

EURO

1.479

CY£

0.859

US$

2.007

CHF

2.433

CAN$

2.113

AUS$

2.443

Comments:  The markets are waiting for tomorrow and the Bank of Englands and the European Central Banks announcements on sterling and euro interest rates respectively. So we have seen a bit of drift in the Euro and US$ against sterling. My thoughts would be, if you are a Euro or Cypriot £ buyer, to look at locking in at least some of your requirements at current levels as the downside risk is probably greater than the upside potential. The New Zealand continues to suffer as another finance house went bust yesterday.

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.



Smart Currency Exchange | 1 Hammersmith Grove | Hammersmith | London | W6 0NB | UK

© 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!



SCE/OGC

1 Hammersmith Grove
London, London
W6 0NB
GB

If you no longer wish to receive communication from us:
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To update your contact information:
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Posted September 4th, 2007 by Charles Purdy

Smarts Daily Currency Note – 4th September 2007

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 4th September 2007

Currency

Rate

EURO

1.482

CY£

0.861

US$

2.017

CHF

2.438

CAN$

2.129

AUS$

2.444

Comments:  Interesting week coming up. The Bank of England and the European Central Bank meet and will pronounce on interest rate changes this week. The ECB had been expected to increase interest rates following their last meeting in August but given the extreme market volatility and uncertainty in the lending market no increase or change in either the sterling or Euro interest rate is expected. At the end of this week the US unemployment figures will be announced and will be a good indicator on how the housing market is affecting other business areas. Sterling has enjoyed a good couple of days and it may make sense to secure euros and or US$s at these levels.

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.



Smart Currency Exchange | 1 Hammersmith Grove | Hammersmith | London | W6 0NB | UK

© 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!



SCE/OGC

1 Hammersmith Grove
London, London
W6 0NB
GB

If you no longer wish to receive communication from us:
Cancel

To update your contact information:
Update

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