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Posted March 28th, 2008 by Charles Purdy

Smarts Weekly Currency Note – 28th March 2008

 
  Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers  
Weekly Currency Interbank Exchange Rates 28th March 2008


Currency
Rate Last
Week
Rate This
Week
EURO
1.284
1.264
US$
1.982
1.991
CAN$
2.030
2.030
AUS$
2.197
2.173
NZD
2.502
2.503
AED
7.279
7.312

CHF

2.000
1.987

ZAR(Rand)

16.183
16.151

Charles’s Thoughts:  Sterling lost a bit of ground against the safe haven currencies as expectations of a UK interest rate reduction grew. This was on the back of the Bank of England confirming that funding problems were critical and that they were willing to both make additional liquidity available and interest rates more accommodative [i.e. reduce them]. Funding problems are hurting the mortgage market with less funds available and lending rates being increased and annual house price increases are non existent [at best]. So sterling potters along with no real upside potential short term against these safe haven currencies.

At the start of the week the US$ was pushing towards all time lows against the Euro but towards the end of the week has benefited from US$ repatriation as we approach the end of the first quarter. Impossible to identify any good news from the US with which to offer longer term solace. Consumer confidence is shot, house prices and the stock market are falling and the Fed is desperately working/hoping that there are no further bank bailouts. Not a good time for the US$.

The Euro is very much the safe haven asset of the moment. Business confidence continues to be strong in Germany and surprisingly in France. The European Central Bank continues to highlight the importance of its fight against inflation so no chance of cuts in Euro land interest rates any time soon. So don’t expect any gains against the Euro any time soon.

The commodity backed and high yielding currencies had a steady week after the weakness of the last week.

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: “…This is just to say that I have been really happy with your service through Carl Hasty, the transfers went really well, really efficient and above all speedy and Carl was very prompt and offered excellent service. The receiving lawyer and vendor were very impressed with how it all went. I have already verbally been telling friends and family about your service and am more than happy to give out your business cards…I look forward to continuing business with your company.” Cheryl Parker, Kent

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

© 2005-2008 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 March 27th, 2008 by Charles Purdy

Smarts Daily Currency Note – 27th March 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 27th March 2008

Currency

Rate

EURO

1.270

US$

2.007

CHF

1.991

CAN$

2.044

AUS$

2.182

Comments:  Economic conditions in Euro land are apparently better than people thought as business confidence in both Germany and France were higher than expected. This makes reductions in Euro land interest rates less likely in the short term especially as the European Central Banks main criteria is to control inflation.

Note:  All rates are mid market inter bank and indicative at the point of publication. 

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.



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

© 2005-2008 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

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Posted March 26th, 2008 by Charles Purdy

Smarts Daily Currency Note – 26th March 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 26th March 2008

Currency

Rate

EURO

1.284

US$

2.003

CHF

2.018

CAN$

2.040

AUS$

2.194

Comments:  Sterling is creeping up against a number of currencies especially those that are either high yielding or dependent on commodities. The main exception is the Euro which continues to be close to all time highs against sterling. Economic news out of the US was not great with housing sales continuing to suffer [no real surprise] and consumer confidence falling [again no real surprise].

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

© 2005-2008 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

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Posted March 25th, 2008 by Charles Purdy

Smarts Daily Currency Note – 25th March 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 25th March 2008

Currency

Rate

EURO

1.282

US$

1.994

CHF

2.020

CAN$

2.020

AUS$

2.180

Comments:  Not much news to report from the Easter period. Sterling has gained a bit of ground against most currencies but is still very vulnerable to any news which is less than positive. I suspect there is not going to be much joy for sterling prior to stability returning to the credit markets.

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

© 2005-2008 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

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Posted March 22nd, 2008 by Charles Purdy

Smarts Weekly Currency Note – 21st March 2008

 
  Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers  
Weekly Currency Interbank Exchange Rates 21st March 2008

Currency
Rate Last
Week
Rate This
Week
EURO
1.303
1.284
US$
2.035
1.982
CAN$
2.013
2.030
AUS$
2.166
2.197
NZD
2.485
2.502
AED
7.445
7.279

CHF

2.048
2.000

ZAR(Rand)

16.082
16.183

Charles’s Thoughts:  A strange week for sterling. You would have thought that sterling would gain against the US$ as the investment bank that had to be saved last weekend was American. No, the markets seemed to take the view that as the UK was so dependent on the financial sector and the pre-eminent position of the City that any financial hardship anywhere was negative for sterling. We then had the City rumour mill in full flow as to financial stability of HBOS which was proved to be nonsense but again had a negative drag on sterling. Against this UK retail sales for February which were announced on Thursday were better than expected which has acted as a short term fillip

Following the saving of Bear Stearns last weekend and the Fed’s decision to reduce US interest rates by a further 0.75% you would have though the US$ would be in freefall. Strangely not. It did lose ground against the Euro but gained ground against sterling. Additional liquidity was pumped into the mortgage market through the relaxation of rules governing such companies as Fannie Mae. The US$ also gained from the fallout in commodity prices. I am sure there are more major problems just around the corner but the market is wondering if the prompt action by the Fed and the significant loss of value of the US$ against the Euro means that the pressure on exchange rates will be felt elsewhere.

The Euro is viewed as a safe haven currency and continued last week to set new highs against sterling and the US$. However a key feature of the Euro has been the view of the market that holding it acted as an anti inflationary counter. The reason for this is that energy and commodity costs are priced in US$’s and as there cost went up the Euro would strengthen and counter any additional cost of buying the commodity hence reducing inflation. However this week commodity prices have suffered a reversal and as such this “feature of support” for the Euro may become less significant.

The commodity backed currencies all suffered from the fallout in commodity prices not least the Canadian and Australian $. Clearly commodity prices have enjoyed a very good run but if the world economy is beginning to suffer we could see a period of weakness. Also high yielding currencies were out of favour as the flight to safety continued.

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

© 2005-2008 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 March 20th, 2008 by Charles Purdy

Smarts Daily Currency Note – 20th March 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 20th March 2008

Currency

Rate

EURO

1.272

US$

1.978

CHF

1.989

CAN$

2.017

AUS$

2.167

Comments:  Sterling continues to suffer. Market rumours about the strength of certain UK banks led to problems for sterling. The bank of England states that these rumours are completely unfounded and are simply being put about by people wanting to make money out of the current fraught situation. The minutes of the last BOE meetings were a slight surprise as they showed that the Deputy Governor was one of two out of the nine committee members who voted for a cut in UK interest rates. The nature of the minutes make it more certain that UK interest rates will be cut in April and that is certainly what the market now expects.

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

© 2005-2008 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 March 19th, 2008 by Charles Purdy

Smarts Daily Currency Note – 19th March 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 19th March 2008

Currency

Rate

EURO

1.272

US$

2.004

CHF

1.986

CAN$

1.990

AUS$

2.154

Comments:  The fallout from the rescue of the US investment bank rumbles on. The Fed cut US interest rates by 0.75% and the are back to 2.25%. We wait to see what the next major problem is. Finance markets are in turmoil and given the UK’s dependence on finance sterling is suffering.

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

© 2005-2008 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 March 18th, 2008 by Charles Purdy

Smarts Daily Currency Note – 18th March 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 18th March 2008

Currency

Rate

EURO

1.272

US$

2.005

CHF

1.976

CAN$

1.995

AUS$

2.173

Comments:  Over the weekend a US investment bank had to be rescued. You would have thought the main casualty of this would have been the US$. Not so. Sterling for some reason seems to have been the main loser losing ground against the US$, three cents against the Euro and even more against the Swiss Franc. Flight to safety is the order of the day and away from high interest rate currencies with balance of payment deficits.

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

© 2005-2008 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 March 14th, 2008 by Charles Purdy

Smarts Weekly Currency Note – 14th March 2008

 
  Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers  
Weekly Currency Interbank Exchange Rates 14th March 2008

Currency
Rate Last
Week
Rate This
Week
EURO
1.309
1.303
US$
2.017
2.035
CAN$
1.979
2.013
AUS$
2.166
2.166
NZD
2.541
2.485
AED
7.410
7.445

CHF

2.054
2.048

ZAR(Rand)

16.247
16.082

Charles’s Thoughts:  Times continue to be interesting given the problems in the US and gold and gas reaching record prices. The UK budget was held this week. Nothing much happened as the Chancellor has some fairly simple and fundamental problems. The UK economy is not growing as quickly as hoped/wished for and tax revenues are less than out goings. So the Chancellor was unable to give much away or take much more from our pockets. In the current climate sterling itself is a side show and continues to gain against the US$ and stay close to all time lows against the Euro.

The US is in recession given every possible measure that could be used. This week the Fed made huge amounts of funds available as the credit market wasn’t working i.e. banks are [still] not lending to each other. The Fed is expected to cut US interest rates by 0.75% this coming week. Can we expect more bad news from the US? I’ve no doubt about it. If a major US financial institution does go bust then the US$ will loss value hand over fist. Not encouraging times.

The Euro continues to be viewed as a safe haven currency close to highs against sterling and hitting ever increasing highs against the US$. In fact Euro land experienced industrial growth in January ahead of expectations. However, the European Central Bank has started to make a lot of noise as to how large exchange movements are bad for businesses. I think a good interpretation of this would be that the strength of the euro is beginning to hurt Euro land business. But the ECB is unlikely to reduce interest rates soon and given US$ interest rates are expected to be reduced I can’t see any reversal any time soon in the Euros strength.

A mixed week for currencies such as the Canadian $ and Australian $. A bit of weakness for the Australian $ in the middle of the week which has been recovered by the end of the week. The Canadian $ given its proximity to the US is sliding as there are fears over the Canadian economy.

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

© 2005-2008 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 March 13th, 2008 by Charles Purdy

Smarts Daily Currency Note – 13th March 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 13th March 2008

Currency

Rate

EURO

1.306

US$

2.034

CHF

2.054

CAN$

2.012

AUS$

2.176

Comments:  The European Central Bank is beginning to get very worried about the strength of the Euro. They are making comments as to how extreme movements in exchange rates are counter productive [especially I imagine when your currency is strengthening!]. However I don’t see any change in current sentiment until they reduce Euro land interest rates. This is unlikely short term as inflation is the worry and given that industrial output increased by 0.9% in January which was well ahead of expectations.

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

© 2005-2008 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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