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Posted October 31st, 2007 by Charles Purdy

Happy Halloween



  Smart Currency Exchange Newsletter  


Happy Halloween – Boo! 31st October 2007

Dear Charles,

I hope this email finds you well. No pleasantries or updates on my or my daughters gardening abilities this month… I’m going to cut right to the chase as I have a couple questions for you:

Question: If I gave you £1,000 would you read the full contents of this email?

Answer: That’s for you to decide…but let me tell you this…It is VERY POSSIBLE that you WILL save well over £1,000 for simply taking 2 minutes and 43 seconds to read the following…

+++

Okay…another question for you:

Question: How would YOU (yes…I mean YOU personally) get the best currency exchange rate?

A. Wrong Answer: I would use a bank.

B. Mediocre Answer: I would use Smart to get a better-than-bank currency exchange rate. By using Smart I can save around 2% to 4% so that’s a savings of £2,000 – £4,000 for every £100k I transfer. Not to mention getting a better service, the elimination of receiving bank charges and quicker transfer times…

(note: See below Guardian clipping – they published our rates as beating all other currency specialists on the 20th October 2007)

C. Best Answer: I would sign up to Smart as soon as I know that I need to move money. By doing this, I can use Smarts expertise and TIME (i.e. 2-3 months) to my advantage.

Rather than waiting until the last minute and having to possibly buy at the worst time, I can work with Smart on a strategy that not only provides me with the best rate on the day, but helps me to possibly save much more by BUYING AT THE RIGHT TIME!

~~~~

I cannot tell you how many people make the mistake of leaving their currency transfers until the last minute. Regardless as to whether you have the money to buy currency now or not, it doesn’t matter. No matter what your situation, we can help you, but you need to contact us sooner rather than later.

Below, I’ve outlined two client stories to fully explain the issues concerting timing. I know they’re a bit long…but just consider the £1,000 you’ll potentially save by reading this:

Let’s pretend that it is NOW July and you need £200,000 worth of Euros FOR September…

If you purchased (or reserved money) in July you would have received around 298,000 euros

If you waited and purchased in September you would have received around 286,000 euros

If you purchased in September the amount of Euros you would have received would be 12,000 euros LESS than buying them in July! (That’s the price of a car, or all your white goods, or x amount of plane tickets…)

TIMING IS IMPORTANT – Buying currency at the RIGHT time is just as important, if not more important, than getting the best rate on the day! (I’m really trying to hammer this into your head…as it’s so important, yet so often overlooked! Everyone things it’s getting the best rate on the day…)

This is why it’s IMPERATIVE that your or any one that you know who is buying overseas signs up to Smart Currency as soon as possible. The more time we have, the more chances we’ll have to provide the best rate.

To give you an indication of the clients we work with and how we assist them, let me give you two Smart client stories:

Client Story 1

A client named, Bob, contacted us at Smart at the end of August to pay a deposit on a seaside property in Portugal.

He was purchasing a second holiday home for his family and friends and was particularly excited because he had been saving for a long time. To Bob, this was a dream come true. He also felt that this purchase was an important investment for his retirement.

At Smart, we secured the initial deposit amount at 1.47 so the 20,000 euros cost him a total of £13,600.

Bob needed to pay the balance in 6 weeks – on completion of the sale. Due to the fact that Bob had budgeted on an exchange rate of 1.45 he decided to forward buy the balance at a rate of 1.465 (better than he budgeted for) costing him a total of £153,475 . This amount was just over £1,500 pounds cheaper than he had initially budgeted for.

Forward Buying,’ means that Bob reserved the rate at 1.465 and paid a small deposit to hold that rate for 6 weeks. After 6 weeks he would then have to pay for the funds and we would move them to Portugal.

Right after Bob purchased, the credit markets around the world began to become very nervous about risky debt and this culminated on the now infamous ‘run on the Northern rock’, something that had previously happened 150 years ago.

After the bank ‘crisis’ and continued uncertainty surrounding Interest rates and house prices, sterling fell to its lowest point in around 14 months. As a result, had Bob waited until the middle of October to purchase the balance of euros to pay for the property it would have cost him an extra £4,300 (this loss does not take into account the extra £3,000 to £5,000 he would have paid if he used the bank)!

The moral of the story: If a Smart client has a rate in mind that he or she would be happy with (i.e. the rate they used to calculate the purchase price of the property when they decided to buy)…and we can get that rate (or better) for them, we often suggest it’s best to RESERVE the currency for a purchase in the future. By doing this, the client has peace of mind that cost of their property will not change. Furthermore, they only have to pay a small deposit and can keep their funds in their bank account earning interest until the money is needed.

Client Story 2

Toni was in a similar situation as to Bob – she had to send over a deposit payment in August for a second investment property in Sicily. The completion payment was due 8 weeks later. Instead of forward buying in August, like Bob did, Toni decided to wait until nearer the time to see if the rate would improve.

As it was, the rate was good in comparison to other times throughout the year.

We placed a ‘Smart Rate Watch’ for the client to notify Toni if the rate moved up to 1.49 and also if it dropped to 1.47 on the other side. After a few weeks, when sterling was losing ground against the euro, we contacted Toni to see if she wanted to cut her loses and purchase before the rate got worse. Toni decided to move the ‘Smart Rate Watch’ just above where the market was trading at the time.

Subsequently the rate did continue to fall and the transfer become more and more expensive. The client eventually bought the currency at the last possible moment, hoping for an improvement in the rate. ‘Playing the market,’ ended up costing Toni an additional £3,000 more than she had originally budgeted for and could have achieved.

This is where many people go wrong…Toni received a very good rate – in fact, it was 3.4% better than what the bank was offering her, HOWEVER, she could have saved much more by buying at the right time.

The moral of the story: The trend is your friend; go against it at your peril! In all seriousness its always best to have a currency ‘strategy’ in place rather than leave things to chance, this could involve a combination of buying forward (securing a rate today for purchase in the future) and/or buying some currency today and making use of the ‘Smart Rate Watch’ system to protect against quick changes.

So…if you’ve already signed up as a Smart Client – GOOD JOB!

Otherwise, please go to the following page to fill out the Smart Online Application Form at:

http://www.smartcurrencyexchange.com/application.htm

Or…to get a currency quotation of your choice, please go to:

http://www.smartcurrencyexchange.com/smartquotation.htm

Or…GIVE US A RING any time.. 0808 163 0102.

Smart Currency Exchange in the Guardian quoted as having the BEST RATE on the Day…Money Section, page 10 on 20th Oct 07

But remember…it’s not all about the rate…Call us on 0207 898 0541 for more information.

The Smart Blogs

Get more information from our Blogs:

Daily Popular Currency Rates: http://smartcurrencyexchange.blogspot.com

Weekly Euro Rate & Comments: http://smartcurrencyexchangeeuro.blogspot.com

Weekly US$ Rate & Comments: – http://smartcurrencyexchangeusdollar.blogspot.com

Weekly CY£ Rate & Comments: – http://smartcurrencyexchangecypriotpound.blogspot.com

The daily currency rates are updated at some point every morning – except on Fridays. Friday is when Charles sends out his weekly rate and comment list via eMail. And the weekly rates and comments are updated every Sunday or Monday depending on how ambitious Charles is!

What do Smart Clients have to Say about the Smart Service?


"Recent transaction was completed very efficiently.
The process was well explained, all questions answered with confidence. The process was very simple to follow with excellant feedback throughout the process. Plus a great rate of exchange was provided. I will definitely use the service again"

John Derek Thompson

"Smart delivered what they promised and helped me through the complicated process removing any obsticles along the way."

J. Townsend

"An outstanding service which is personaly and easy to use. It has already saved us thousands of pounds"

Ray Stock

"We were complete novices to the process of transferring moneis abroad but Smart made the process easy with their step-by-step instructions."

Sue and Ken Shortridge

Please remember to recommend us to your friends – they will be so pleased that you did! If you have any questions or need a currency exchange quote, please give us a ring on our freephone on 0808 163 0102 or fill out our quotation request form at:

http://www.smartcurrencyexchange.com/smartquotation.htm

That’s it for this month. PLEASE contact me if I can help you with anything::
mailto:Rebecca@SmartCurrencyExchange.com


Think Smart,
Rebecca Stubbs

Smart Currency Exchange

0207 898 0541

 




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

Copyright © 2007. All Rights Reserved. Smart Currency Exchange

All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise without the prior permission of the copyright owner.

The contents are a general guide only and are not intended to be in substitution for professional advice. All readers are strongly advised to take advice from their solicitor, accountant and surveyor before proceeding with any property purchase.

 



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Posted October 31st, 2007 by Charles Purdy

Smarts Daily Currency Note – 31st October 2007

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

Currency

Rate

EURO

1.435

CY£

0.832

US$

2.073

CHF

2.401

CAN$

1.979

AUS$

2.245

Comments:  The US$ lost further ground on the back of worsening economic data. Sterling gained a bit of ground against the Euro on the back of comments from a member of the Bank of England interest rate committee who indicated that the current economic was a “slowdown” rather than anything worse and as such the market believes an interest rate cut here in the UK in the short term is now less likely.

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!



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London, London
W6 0NB
GB

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Posted October 30th, 2007 by Charles Purdy

Smarts Daily Currency Note – 30th October 2007

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

Currency

Rate

EURO

1.429

CY£

0.830

US$

2.061

CHF

2.402

CAN$

1.969

AUS$

2.232

Comments:  The US is expected to reduce interest rates this week, the UK is expected to do it in the near future and Euro land is expected to keep interest rates on hold. Hence the US$ is weakening against both the Euro and sterling and sterling is weak against the Euro. Don’t expect changes any time soon in the above situation.

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!



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1 Hammersmith Grove
London, London
W6 0NB
GB

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

Smarts Weekly Currency Note – 26th October 2007

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

Currency
Rate Last
Week
Rate This
Week
EURO
1.436
1.426
CY£
0.835
0.830
US$
2.048
2.052
CAN$
1.975
1.975
AUS$
2.293
2.240
NZD
2.725
2.683

CHF

2.400
2.400

ZAR(Rand)

13.917
13.333

Charles’s Thoughts:  Not a great week for sterling losing ground it seems against everything apart from the US$. The Bank of England warned that the UK remained vulnerable to shocks from the global credit squeeze which isn’t a surprise and certainly wasn’t a help to sterling. The housing market continues to suffer here in the UK with a significant reduction in mortgage approvals and it appears to be a buyers market. Also the market is beginning to believe that UK interest rate reductions are likely sooner rather than later. A period of uncertainty for sterling.

The US$ has pushed through 2.05. The housing market is a real mess and makes the UK housing market look good. However, what has been interesting is that although the US economic data has been poor the US$ has not lost huge amounts against sterling. So we may be in a situation where the US$ could see some upside against sterling on the back of good news out of the US. Further US interest rates are expected soon.

The Euro is still flavour of the month with reasonable economic data and as such both sterling and the US$ are losing ground. However, the Euro zone is slowing with even Germany reducing its growth forecast for 2008 from 2.4% to 2.0%. The European Central Bank is unlikely to reduce interest rates in the short term as it is concerned about inflation and as such this will benefit the Euro given the expected interest rate cuts elsewhere. Still seems like an excellent time to repatriate funds.

All the commodity backed currencies have had a good week against sterling. Not really surprising given record oil prices and the continued need for all types of commodities in China, India, Russia and Brazil. But again it needs to be noted that we are close to long term highs and to make further significant gains against sterling is not going to be easy.

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: “Recent transaction was completed very efficiently. The process was well explained, all questions answered with confidence. The process was very simple to follow with excellent feedback throughout the process. Plus a great rate of exchange was provided. I will definitely use the service again” John Derek Thompson

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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1 Hammersmith Grove
London, London
W6 0NB
GB

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Posted October 25th, 2007 by Charles Purdy

Smart Daily Currency Note – 25th October 2007

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

Currency

Rate

EURO

1.434

CY£

0.837

US$

2.048

CHF

2.394

CAN$

1.979

AUS$

2.265

Comments:  The pound steadied against the euro and dollar on Wednesday helped by strong starts in European equity markets. It is generally accepted as the two are closely correlated. The Bank of England said this morning that trouble in the financial markets was not over yet and stocks, commercial property and credit markets in the rich world could suffer a further hit.

Data out today will largely revolve around the US with housing figures and durable goods. Thursday also features September mortgage approvals data from the British Bankers’ Association and testimony by UK finance Minister Alistair Darling to a parliamentary committee at 1000 GM.

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.

To get a live quotation, please go to: http://www.smartcurrencyexchange.com/smartquotation.htm



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 October 24th, 2007 by Charles Purdy

Smart Daily Currency Note – 24th October 2007

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 24th October 2007

Currency

Rate

EURO

1.438

CY£

0.835

US$

2.044

CHF

2.402

CAN$

1.98

AUS$

2.28

Comments:  Twenty four hours can be a long time in the FX market. After the uncertainty and big movements on Monday, an element of calmness returned to the markets on Tuesday. The Pound gained about half a cent against the Euro, in part, due to British industry CBI figures. The US Dollar eased Tuesday as US markets continued their rebound helped by good corporate results. And the Nasdaq 100 even reached a new high for the year.

The Financial market is pricing in a 70% chance for a rate cut ahead of the highly-anticipated October 31st rate decision by the Federal reserve. The recent mortgage crisis triggered a major shift in investor attitude towards the US Dollar and so it will take a long time to repair the damage, meanwhile the dollar could remain under more pressure.

The Australian Dollar rose last night after the release of a 1% increase in QoQ Q3 core inflation rate against 0.8% expected. This is its fastest pace in 16 years.

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.

To get a live quotation, please go to: http://www.smartcurrencyexchange.com/smartquotation.htm



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:
Update

Posted October 23rd, 2007 by Charles Purdy

Smart Daily Currency Note – 23rd October 2007

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

Currency

Rate

EURO

1.433

CY£

0.835

US$

2.036

CHF

2.392

CAN$

1.9810

AUS$

2.285

Comments:  With very little economic data coming out yesterday, and in fact for the rest of the week trading is expected to be affected by market sentiment, yesterday the stock markets around the world fell on continuing worries surrounding the US sub prime fallout.

The falls on Wall Street came exactly 20 years after the Black Monday crash and just highlights the continuing uncertainty in financial markets that is almost certainly set to continue for some time.

Sterling fell below 1.43 yesterday against the Euro in the morning then recovered to its previous weeks close around 1.43 in the afternoon but risks on the downside could see it come under further pressure in today’s trading. Today the focus will be on CBI quarterly trends from the UK at 11.00am.

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.

To get a live quotation, please go to: http://www.smartcurrencyexchange.com/smartquotation.htm



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

Posted October 19th, 2007 by Charles Purdy

Smarts Weekly Currency Note – 19th October 2007

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

Currency
Rate Last
Week
Rate This
Week
EURO
1.435
1.436
CY£
0.835
0.835
US$
2.034
2.048
CAN$
1.980
1.975
AUS$
2.251
2.292
NZD
2.626
2.725

CHF

2.411
2.400

ZAR(Rand)

13.736
13.917

Charles’s Thoughts:  Sterling is holding its own. The minutes of the last Bank of England meeting were released and the vote had been 8 to 1 to keep UK interest rates on hold. The credit crunch was obviously a concern but inflation is still a worry to the BOE. The last inflation figure of 1.8% was within the 2% target and we now wait for the next inflation report in November. New mortgages are slowing down as the UK housing market begins to slow. Still difficult to see much upside for sterling short term.

The US$ is pushing towards 2.05. Economic data, especially housing, has been poor. Also the US third quarter reporting season for the stock market is in full swing and the financial sector has been performing badly. There is now talk of possible further cuts in US interest rates later this month which is of concern for the US$. All in all not a pretty picture for the US$

The Euro is still benefiting both from a positive flow of economic data and the “underperformance” of both sterling and the US$. One problem that will ultimately have a major effect on the Euro is the appreciation of the Euro against the US$ which will make its exports less competitive than those from the US’s. The French continue to complain about the strong Euro. In the space of 18 months the Euro has gained 20% against the US$. How is Airbus able to compete with Boeing when Boeing have gained a 20% cost advantage doing nothing! So don’t assume that the Euro will continue to move in one direction only.

The Canadian $ continues to strengthen against sterling but momentum is slowing. The Australian $ has slipped slightly. Both are close to long term highs and to make further significant gains against sterling is not going to be easy.

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: “Professional and dependable service. Takes all the worry and stress out of the currency transfers. Once we make the call we can relax! Thank you.” David & Margaret Owen, Manchester

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:
Cancel

To update your contact information:
Update

Posted October 18th, 2007 by Charles Purdy

Smarts Daily Currency Note – 18th October 2007

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 18th October 2007

Currency

Rate

EURO

1.434

CY£

0.835

US$

2.041

CHF

2.403

CAN$

1.987

AUS$

2.283

Comments:  Steady as she goes. Unless any news is really very good we are likely to be around these levels for a while. Hopefully there won’t be any bad news to hurt sterling further. Inflation is going to be a key indicator for UK interest rate changes. Housing starts in the US for September were poor which puts further pressure on 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!



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London, London
W6 0NB
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Posted October 17th, 2007 by Charles Purdy

Smarts Daily Currency Note – 17th October 2007

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

Currency

Rate

EURO

1.435

CY£

0.835

US$

2.034

CHF

2.400

CAN$

1.993

AUS$

2.288

Comments:  The Bank of England voted by 8 to 1 to keep UK interest rates on hold. Clearly financial markets are of concern to the BOE but their key focus is inflation and the target of 2%. The economy will be carefully watched by the BOE to see what effect the credit crunch has had but as yet any change had been somewhat limited. The November inflation report will be carefully monitored by the market

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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