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Posted December 21st, 2007 by Charles Purdy

Smarts Weekly Currency Note – 21st December 2007

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


Currency
Rate Last
Week
Rate This
Week
EURO
1.399
1.380
CY£
0.809
0.803
US$
2.022
1.9847
CAN$
2.057
1.973
AUS$
2.342
2.287
NZD
2.629
2.588

CHF

2.330
2.292

ZAR(Rand)

13.848
13.940

Charles’s Thoughts:  Sterling has had a bad week. First the minutes of the last Bank of England interest rate meeting were released and showed that the vote to reduce interest rates was unanimous. This surprised the market. Then the balance of payment figures were released. These were very bad with a huge net outflow of funds. And now the Christmas retail period is not going as well as hoped and house prices continue to fall in most places. All doom and gloom so it is not a surprise that sterling is suffering. Sterling only seemed to make a gain against the South African rand. Shows how the market views the new head of the ANC in South Africa!. But I suppose they did win the rugby world cup.

The US$ has been on the up. No clear reasons as to why apart from the need for US financial institutions to realise their investments so as to make their balance sheets look as good as they can by the year end. Also investors needed to cut their losses if they had “bet” on the US$ would lose further value. However I do wonder if this positive news is short term given the major economic problems faced by the US$ in 2008.

The Euro is still the preferred currency. Inflation continues to be of concern to the European Central Bank. So any cuts in Euro interest rates are very unlikely short to medium term. But clearly the credit crunch is having an affect on Euro land as the ECB lent Euro 350 billion to financial institutions last week who were having difficulty borrowing elsewhere. And I still feel that Euro land cannot be immune to the slow down elsewhere. Talking to one of my clients who does a lot of business in Euro land he said there was a lot of pain being suffered by Euro land exporters given the strong Euro exchange rate.

As noted above all major currencies gained against sterling apart from the South African rand which faces problems given the markets uncertainty with possible political instability. Canada still has the most going for it with its huge natural resources but no currency is safe in the current climate. HAVE A WONDERFUL CHRISTMAS AND ALL THE EVRY BEST FOR 2008.

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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GB

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Posted December 20th, 2007 by Charles Purdy

Smarts Daily Currency Note – 20th December 2007

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

Currency

Rate

EURO

1.388

CY£

0.805

US$

1.993

CHF

2.304

CAN$

1.998

AUS$

2.319

Comments:  The US$ is on the ascendancy. Why? Difficult to say. One factor is the need for banks to bolster their year end balance sheets so I imagine investments are being realised and the funds brought back to the US. Also the minutes of the last Bank of England meeting were released which showed that the committee had voted unanimously to reduce UK interest rates. Clearly the US$ is going one way at the moment .Will it last. I believe not but you can’t bet against it 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 December 19th, 2007 by Charles Purdy

Smarts Daily Currency Note – 19th December 2007

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

Currency

Rate

EURO

1.399

CY£

0.813

US$

2.012

CHF

2.325

CAN$

2.027

AUS$

2.338

Comments:  UK inflation figures were slightly lower than expected which means that cuts in UK interest rates are back on the agenda. Probably they were never off the agenda. So we have seen sterling lose ground against the US$ which is back to levels seen at the start of the credit crisis. The Euro lost ground on the back of the European central Bank announcing that it had lent Euro 350 billion in its short term credit facility. This surprised/shocked the market as it was much larger than expected. Probably shows that we are far from out of the woods with regard to the credit crisis and that the new year will hold more shocks for the financial system.

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 December 18th, 2007 by Charles Purdy

Smarts Daily Currency Note – 18th December 2007

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

Currency

Rate

EURO

1.404

CY£

0.815

US$

2.018

CHF

2.327

CAN$

2.024

AUS$

2.347

Comments:  The US$ has gained ground as the expectation of future US$ interest rate has receded which has led to an inflow of funds into the US. Also it has been helped by the market being caught out by this change in expectations and a lot of “bets” on further US$ weakening have had to be “settled” so as to minimise further losses. I don’t see much further upside for the US$ against sterling short term. The Euro on the other hand has begun to suffer as we see worries about the Euro land economy begin to grab the headlines.

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 December 14th, 2007 by Charles Purdy

Smarts Weekly Currency Note – 14th December 2007

 
  Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers  
Weekly Currency Interbank Exchange Rates 14th December 2007

Currency
Rate Last
Week
Rate This
Week
EURO
1.388
1.399
CY£
0.807
0.809
US$
2.030
2.022
CAN$
2.036
2.057
AUS$
2.310
2.342
NZD
2.602
2.629

CHF

2.298
2.330

ZAR(Rand)

13.583
13.848

Charles’s Thoughts:  Sterling has been steady and has gained against most currencies apart from the US$. Economic news has been mixed with pressure on house prices and sales volume countered by a surge in production price inflation. The latter means that the market has become unsure on future cuts in UK interest rates. The central banks of the UK, US and Euro land agreed a financing package in an attempt to add liquidity to a market that was/is in danger of grinding to a halt. Still uncertain times and an uncertain future for sterling.

The US$ made gains against both sterling and the Euro. The Fed cut US interest rates by 0.25% which was less than hoped for by the market. However, a bit like the UK, producer price inflation is on the up [in fact hitting 34 year highs!]. Also retails sales for November were stronger than expected. So there is uncertainty in the market as to the likelihood of further interest rate cuts short term. But I don’t see the US$ strengthening too much further shorter term.

The Euro is still the preferred currency when the other choice is the US$ or sterling. And inflation is of also of concern to the European Central Bank. So any cuts in Euro interest rates are very unlikely short to medium term. But clearly the credit crunch is having an affect on Euro land as the ECB were part of the consortium noted above. And Euro land cannot be immune to the slow down elsewhere. They may not have the overhang of highly priced properties throughout Euro land but businesses need to export and if elsewhere is contracting and the strong Euro makes these exports less competitive then the Euro will suffer.

A mixed week for the high interest rate currencies. They all fell against sterling even though the carried trade seemed to have made a reappearance. Will be interesting to see how long this lasts.

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 December 13th, 2007 by Charles Purdy

Smarts Daily Currency Note – 13th December 2007

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 13th December 2007

Currency

Rate

EURO

1.388

CY£

0.807

US$

2.041

CHF

2.313

CAN$

2.067

AUS$

2.314

Comments:  A quiet day for sterling. Apparently sterling was “backed” by some strong UK labour market data as jobs growth remained robust. It will be interesting to see what affect the funding package from the Central Banks of the UK, US and Euro land has. Clearly they are very worried about the credit squeeze and economies stopping. Banks have been hoarding cash as we approach the year end and this is the central banks attempt to kick start matters. Hopefully they will succeed.

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:
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Posted December 12th, 2007 by Charles Purdy

Smarts Daily Currency Note – 12th December 2007

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 12th December 2007

Currency

Rate

EURO

1.388

CY£

0.807

US$

2.042

CHF

2.307

CAN$

2.058

AUS$

2.317

Comments:  Investor confidence in Germany is at its weakest level since January 2003. Some would say it had reached recessionary levels! It highlights the risk of growth disappointment in Europe’s largest economy [and one of the largest in the world]. So all is not rosy for Euro land and for the Euro. Highlights that the European Central Banks discussion of increasing Euro land interest rates may be a case of “fiddling while Rome burns”. 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:
Cancel

To update your contact information:
Update

Posted December 11th, 2007 by Charles Purdy

Smarts Daily Currency Note – 11th December 2007

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

Currency

Rate

EURO

1.391

CY£

0.808

US$

2.046

CHF

2.313

CAN$

2.063

AUS$

2.307

Comments:  Sterling has been suffering on the thought that last weeks cut in UK interest rates was the first of many. However, doubt has crept into the market as there was an unexpected surge in UK producer price inflation. The European Central Bank has also reemphasised its concerns about inflation. So although we are all hoping that interest rates will ease this may not be the case this side of the Atlantic. The same is not true in the US where the discussion is about whether the interest rate will be 02.5% or 0.5%. We will learn which is correct over the next couple of days.

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:
Update

Posted December 7th, 2007 by Charles Purdy

Smarts Weekly Currency Note – 7th December 2007

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

Currency
Rate Last
Week
Rate This
Week
EURO
1.399
1.388
CY£
0.809
0.807
US$
2.066
2.030
CAN$
2.062
2.036
AUS$
2.326
2.310
NZD
2.671
2.602

CHF

2.318
2.298

ZAR(Rand)

13.963
13.583

Charles’s Thoughts:  Sterling lost ground against everything this week. The Bank of England cut UK interest rates by 0.25%. A slight surprise but on the back of weak economic data, including falling house prices and poor retail sales, better to start the cuts earlier rather than too late. There will be further reductions in UK interest rates next year. Will lead to weakness in the short term but longer term probably a plus for sterling.

The US$ made gains last week and now sits at 4 month highs against sterling. A slight surprise given that the Fed is expected to cut US interest rates next week and the US economy is far from booming. In fact given the over hang in unsold properties, new and old, further problems are only a matter of time. In fact one of the major US property developers sold a significant proportion of its unsold new properties to a finance house for 40 cents in the US$1. Better to have the cash. Not a bad sentiment all round.

The Euro is still the flavour of the month. The European Central Bank kept Euro land interest rates on hold and even inferred that inflation was still their major concern. Clearly they are dancing to a different beat in Euro land relative to the UK and the USA. I wonder how self delusional the ECB’s position is. France and Italy have been complaining about the strong Euro since the summer and as noted previously the Irish and Spanish property markets are suffering. I still believe sterling is oversold and that it is a good time to bring back Euros. We will have to wait and see if I am right.

The commodity backed and high interest rate countries all gained. Canada did reduce interest rates this week as their economy is suffering as the US market is a key market. New Zealand and Australia kept interest rates on hold.

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 December 6th, 2007 by Charles Purdy

Smarts Daily Currency Note – 6th December 2007

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

Currency

Rate

EURO

1.390

CY£

0.808

US$

2.024

CHF

2.289

CAN$

2.054

AUS$

2.321

Comments:  Pressure on sterling as the worries on the UK economy, which includes house prices falling for the last three months, has increased pressure on the Bank of England to cut UK interest rate now. So we wait for the BOE announcement today. A cut may even be a boost for sterling as it shows that the BOE is on the case. Still seems a good time to bring back Euros and Cypriot £’s to the UK.

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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