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Posted March 12th, 2008 by Charles Purdy

Smarts Daily Currency Note – 12th March 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 12th March 2008


Currency

Rate

EURO

1.310

US$

2.012

CHF

2.074

CAN$

1.994

AUS$

2.162

Comments:  Liquidity is the key. Banks seem ever more reluctant to lend to each other especially in the US as they become more and more concerned about a major US financial institution going bust. This has “forced” the Fed to make available funds of US$200 billion to help these financial institutions out. Where does this leave sterling. Bobbling along close to lows against the euro and just above US$2.

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!





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Posted March 11th, 2008 by Charles Purdy

Smarts Daily Currency Note – 11th March 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 11th March 2008

Currency

Rate

EURO

1.304

US$

2.016

CHF

2.050

CAN$

2.000

AUS$

2.180

Comments:  Sterling seems to be sitting in the middle with regard to the “flight to safety”. Sterling has made gains against the Australian dollar which has high interest rates and the US$ and Canadian$ where the economies are of concern. But sterling has lost ground against the “less risky” currencies of Euro land and Switzerland.

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 7th, 2008 by Charles Purdy

Smarts Weekly Currency Note – 7th March 2008

 
  Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers  
Weekly Currency Interbank Exchange Rates 7th March 2008

Currency
Rate Last
Week
Rate This
Week
EURO
1.307
1.309
US$
1.985
2.017
CAN$
1.991
1.979
AUS$
2.112
2.166
NZD
2.469
2.541
AED
7.292
7.410

CHF

2.074
2.054

ZAR(Rand)

15.344
16.247

Charles’s Thoughts:  Sterling gained some ground against most currencies. The Bank of England kept UK interest rates on hold. This was very much as the market expected. In February UK consumer confidence continued to fall but the UK services sector did better than expected. This conflicting data highlights how difficult a job the BOE has. Cuts in UK interest rates are expected but timing will be the issue.

The US$ continues to fall especially against the Euro hitting ever greater lows. Unemployment in the US is rising and as Warren Buffet says on any sensible measure the US is in recession. US interest rates are expected to be cut this coming week. The interest differential with the UK and Euro land will become even greater and yet further loses for the US$ are likely.

The Euro is benefiting from the “benign” economic conditions in Euro land. Economic conditions are probably not that benign just a lot better than elsewhere. The European Central Bank kept Euro interest rates on hold this week which was as expected. The ECB also raised its forecast for inflation and trimmed those for economic growth. The ECB is mandated to ensure price stability which was stressed by the ECB and which has in effect ruled out any short or medium term Euro interest rate cut.

Commodity backed currencies such as the Australian $ and Canadian $ are still close to recent highs. The only currency losing ground is the South African rand which has huge political problems to overcome.

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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Posted March 6th, 2008 by Charles Purdy

Smarts Daily Currency Note – 6th March 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 6th March 2008

Currency

Rate

EURO

1.308

US$

2.004

CHF

2.070

CAN$

1.975

AUS$

2.139

Comments:  Interest rates were held both in the UK and in Euro land. This was very much as expected. UK consumer confidence is falling but UK services sector rose quicker than expected in February. Conflicting data. Cuts in UK interest rates are expected but timing will be the issue.

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 5th, 2008 by Charles Purdy

Smarts Daily Currency Rate – 5th March 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 5th March 2008

Currency

Rate

EURO

1.302

US$

1.979

CHF

2.059

CAN$

1.965

AUS$

2.136

Comments:  Australia increased interest rates by 0.25% and Canada reduced interest rates by 0.5% yesterday. Both lost ground slightly against sterling! The Euro continues to “benefit” from the fact that interest rates are unlikely to be reduced short term as the European Central Bank is more concerned with 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

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

To update your contact information:
Update

Posted March 4th, 2008 by Charles Purdy

Smarts Daily Currency Note – 4th March 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 4th March 2008

Currency

Rate

EURO

1.308

US$

1.987

CHF

2.068

CAN$

1.971

AUS$

2.128

Comments:  Still interesting times. UK manufacturing data was stronger than expected. Manufacturers were also managing to pass on increasing costs. This makes any reduction in interest rates by the Bank of England this coming Thursday less likely. The European Central Bank is expected to do the same thing on Thursday and hold interest rates. However the ECB must be aware that the majority of Euro land is beginning to suffer economically and as such we will probably see cuts in Euro interest rates later this year. The US$ is still in a mess losing ground against all.

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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