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Posted November 30th, 2007 by Charles Purdy

Smarts Weekly Currency Note – 30th November 2007

 
  Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers  
Weekly Currency Interbank Exchange Rates 30th November 2007


Currency
Rate Last
Week
Rate This
Week
EURO
1.387
1.399
CY£
0.808
0.809
US$
2.056
2.066
CAN$
2.032
2.062
AUS$
2.357
2.326
NZD
2.731
2.671

CHF

2.266
2.318

ZAR(Rand)

14.048
13.963

Charles’s Thoughts:  Sterling had another steady week. The Bank of England is giving mixed messages. It is concerned about inflation but at the same time concerned about the slowing UK economy. House prices are falling while fuel costs are going up. The market is confident the BOE will cut UK interest rates but is unsure when. Some had been expecting a cut as early as the next BOE meeting in early December. We wait and see. As noted previously sterling is fairly friendless.

The US$ also had a steady week and is now sitting at US$2.066/£1 inter bank. The feeling is that the Fed will cut interest rates in December. Even in spite of some negative US economic data this week and the likely cut in US interest rates the US$ seems relatively well supported. However, don’t expect the US$ to make any significant gains any time soon. Short term weakness could be more likely.

The Euro has also had a steady week. Obviously still close to four and half year highs against sterling and unlikely to weaken in the short term against sterling but as noted previously the strong Euro is hurting Euro land exports. Euro land housing markets are also suffering. One meeting this week with a Spanish property developer highlighted how weak the Spanish housing market was. I’m sure this applies elsewhere. Good time to bring funds back.

The commodity backed and high interest rate countries had a slightly better week apart from the Canadian $ which seems to be suffering from its proximity to the US. We still have to remember that we are in a commodities boom which is sucking huge amounts of commodities into the Far East and as such Canada will continue to be a huge beneficiary.

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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Posted November 29th, 2007 by Charles Purdy

Smarts Weekly Currency Note – 29th November 2007

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 29th November 2007

Currency

Rate

EURO

1.398

CY£

0.806

US$

2.070

CHF

2.304

CAN$

2.046

AUS$

2.339

Comments:  Another steady day for sterling. Slightly nervous as we seem to be seeing the credit crunch beginning to further affect the mortgage market as some of the smaller mortgage lenders are having difficulty accessing funds. Hopefully the Government and the Bank of England can avoid another Northern Rock debacle! Still an exceptional rate at which to bring back Euro funds.

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 November 28th, 2007 by Charles Purdy

Smarts Daily Currency Note – 28th November 2007

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

Currency

Rate

EURO

1.397

CY£

0.806

US$

2.061

CHF

2.294

CAN$

2.056

AUS$

2.361

Comments:  No real changes over the last 24 hours. Business confidence in Germany saw a boost last month and inflation is still of concern in Euro land which leads the market to believe that the European Central Bank will not reduce interest rates any time soon. But this ignores the pain being encountered elsewhere in Euro land and I imagine the rhetoric behind closed doors at the ECB is quite heated.

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 November 27th, 2007 by Charles Purdy

Smarts Daily Currency Note – 27th November 2007

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

Currency

Rate

EURO

1.395

CY£

0.806

US$

2.070

CHF

2.280

CAN$

2.051

AUS$

2.359

Comments:  Sterling has been steady for the last few days. My thoughts are that sterling is oversold against the Euro and that there is more upside than downside. However, this upside may take quite a while to become reality and is probably reliant on Euro lands industry making it crystal clear to the European Central Bank that enough is enough when it comes to the strong Euro. But bankers being bankers it may take them a while to see sense. Good time to bring back euros.

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 November 23rd, 2007 by Charles Purdy

Smarts Weekly Currency Note – 23rd November 2007

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

Currency
Rate Last
Week
Rate This
Week
EURO
1.398
1.387
CY£
0.813
0.808
US$
2.046
2.056
CAN$
1.997
2.032
AUS$
2.300
2.357
NZD
2.712
2.731

CHF

2.288
2.266

ZAR(Rand)

13.684
14.048

Charles’s Thoughts:  Sterling had a steady week. The Bank of England minutes were released this week which showed there had been a 7 to 2 vote in favour of keeping UK interest rates on hold. The UK economy is certainly slowing but that is no different from others. Property prices are softening. There will be reductions in UK interest rates next year but we will also see reductions in interest rates elsewhere. Sterling continues to be fairly friendless.

The US$ also had a steady week. Thanksgiving was on Thursday and so there has been less activity than normal in the US. The feeling is that US interest rates will be reduced by the Fed in mid December and that we will see the US$ weaken as we get closer to the meeting date. The US$ continues to move ever lower against the Euro which means that US exports become cheaper by the day. This very week Airbus was complaining about Boeings pricing advantage arising out of the US$’s weakness. Still fairly friendless the US$ but will the world really let it collapse!

The Euro was steady against sterling. Although Euro land has some significant economic positives when compared to the UK and US it won’t have it all its own way. The German economy is slowing and the strong Euro has seen a lot of European industry begin to suffer and worry. The housing markets in Spain and Ireland are also in trouble. The European Central Bank is likely to keep interest rates on hold for a while to counter inflation and this is likely to have a significant affect on the Euro land economies. Has to be a good time to bring back funds to the UK.

A bit more currency weakness from the commodity backed and high interest rate countries. The weakening is slow and steady as there continues to be a flight to safe haven currencies such as the Swiss franc.

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!



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 November 22nd, 2007 by Charles Purdy

Smarts Daily Currency Note – 22nd November 2007

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 22nd November 2007

Currency

Rate

EURO

1.391

CY£

0.805

US$

2.066

CHF

2.276

CAN$

2.031

AUS$

2.359

Comments:  No real joy for sterling yesterday. We are at four and half year lows against the Euro as sterling struggles to overcome the fallout from the worldwide credit crunch, the Northern Bank debacle and the slowing UK economy which makes UK interest rate reductions next year a certainty. However I still have this feeling the market is overlooking the uncertainty and problems that exist across the channel. The only EEC country that can be remotely happy with such a strong Euro is Germany and I am not so sure even they are that happy. Good time to bring funds back.

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 November 21st, 2007 by Charles Purdy

Smarts Daily Currency Note – 21st November 2007

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

Currency

Rate

EURO

1.389

CY£

0.805

US$

2.054

CHF

2.273

CAN$

2.025

AUS$

2.355

Comments:  Continued pressure on sterling. Close to all time lows against the Euro. The BOE minutes showed that the vote was 7 to 2 to keep UK interest rates on hold. My feeling is that sterling is oversold. Clearly there are problems in the UK but Euro land is not immune to these problems and once we see these problems manifest themselves we could see a rapid reversal. Maybe not soon but currency movements are never a one way bet.

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

Posted November 20th, 2007 by Charles Purdy

Smarts Daily Currency Note – 20th November 2007

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

Currency

Rate

EURO

1.396

CY£

0.809

US$

2.059

CHF

2.286

CAN$

2.012

AUS$

2.319

Comments:  A move to safe haven assets with the Swiss Franc being at the top of that list. Sterling continues to hover just under Euro 1.40 inter bank. We are waiting for the minutes on Wednesday of the last Bank of England meeting. This may add substance to pronouncement made last week from the Governor of the Bank of England that we will see UK interest rate reductions in the coming year. Certainly seems a good time to bring funds back to the UK form Euro land.

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 November 16th, 2007 by Charles Purdy

Smarts Weekly Currency Note – 16th November 2007

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

Currency
Rate Last
Week
Rate This
Week
EURO
1.426
1.398
CY£
0.831
0.813
US$
2.092
2.046
CAN$
1.971
1.997
AUS$
2.294
2.300
NZD
2.735
2.712

CHF

2.350
2.288

ZAR(Rand)

13.858
13.684

Charles’s Thoughts:  Sterling had a poor week. The Governor of the Bank of England stated that UK economic growth next year was going to be poor and that UK interest rates were going to be reduced. Retail figures were also poor and the net effect was that sterling lost ground against both the Euro and the US$. The market is wondering if UK interest rates could be reduced as early as December. We will have to wait and see what happens to sterling but a bit like the US$, sterling has few friends. We are in very interesting times.

The US$ regained a bit of equilibrium against sterling but this was more on the back of sterling’s poor showing rather than anything great coming out of the US. The credit crunch and sub prime loan problems are still there and unlikely to disappear any time soon. However, US exports are benefiting from the weak US$. My feeling is that we will see the US$ move back towards the US$2.10 mark.

The € is still top dog. This is more on the back of the poor economic fundamentals for the US and the UK. We have to remember that France and Italy were complaining about the strength of the Euro only a few months ago. So I suspect their economies are suffering even more. The European Central Bank is likely to keep interest rates on hold for a while to counter inflation and this is likely to have a significant affect on the Euro land economies. Has to be a good time to bring back funds to the UK.

The commodity and high interest rate countries pulled back a bit more this week. The strong Canadian $ has affected exports into the US and we have seen the Canadian $ pull back towards parity against the US$

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!



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:
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Posted November 15th, 2007 by Charles Purdy

Smarts Daily Currency Note – 15th November 2007

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 15th November 2007

Currency

Rate

EURO

1.404

CY£

0.816

US$

2.057

CHF

2.311

CAN$

1.984

AUS$

2.294

Comments:  Following the Governor of the Bank of England’s comments yesterday about the UK economy sterling has hit the floor. Poor UK growth is forecast for next year which makes at least two cuts in UK interest rates likely. Some commentators are saying that we may even see a cut in UK interest rates as soon as next month. Sentiment has certainly turned against sterling big time following the Northern Bank debacle. But it has to be remembered that the Euro land economy cannot defy what is happening elsewhere in the world and with the Euro being so strong Euro land exports are going to be under extreme pressure.

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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