Call Free Phone Now:0808 163 0102
Outside the UK: +(44) 207 898 0541 Request a Call Back
 
  Daily Currency News Euro US Dollar Educational Articles  
 
Posted May 15th, 2008 by Charles Purdy

Smarts Daily Currency Note – 15th May 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 15th May 2008


Currency

Rate

EURO

1.254

US$

1.945

CHF

2.046

CAN$

1.951

AUS$

2.077

Comments:  A steady day for sterling. This was even with the doom and gloom announcement from the Bank of England that inflation was on the up for the rest of the year. This makes significant interest rate cuts unlikely but the market is still expecting some reduction by the year end. German economic data was positive which lends support to the €.

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

Leave a Reply

You must be logged in to post a comment.

Posted May 14th, 2008 by Charles Purdy

Smarts Daily Curency Note – 14th May 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 14th May 2008

Currency

Rate

EURO

1.257

US$

1.943

CHF

2.049

CAN$

1.951

AUS$

2.074

Comments:  Sterling lost ground against the US$. The US had better than expected retail figures in April which has given a positive feel to the US economy. The UK on the other hand had higher than expected inflation [I am not sure why this was unexpected as energy and food prices have gone into overdrive upwards] which leaves the Bank of England in a quandary. Higher inflation makes it less likely that the BOE can reduce interest rates and high interest rates makes it less likely that the UK economy will recover quickly. Not good for sterling.

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 May 13th, 2008 by Charles Purdy

Smarts Daily Curency Note – 13th May 2008

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

Currency

Rate

EURO

1.258

US$

1.953

CHF

2.037

CAN$

1.966

AUS$

2.062

Comments:  Sterling continues to hover around the €1.25/£1 level. It has been around this level for a few weeks now. House prices and housing sales volume continue to fall. Not surprising given how economic confidence continues to seep from the market. Also any significant reduction in UK interest rates is unlikely since UK inflation continues to be a problem. Both factory output and factory input prices continue their upward curve. Increases in energy costs are a major factor followed by increases in food prices. A real concern for the Bank of England on what to do with UK interest rates and a major problem for sterling.

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 May 9th, 2008 by Charles Purdy

Smarts Weekly Currency Note – 9th May 2008

 
  Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers  
Weekly Currency Interbank Exchange Rates 9th May 2008

Currency
Rate Last
Week
Rate This
Week
EURO
1.280
1.261
US$
1.976
1.949
CAN$
2.010
1.962
AUS$
2.108
2.070
NZD
2.523
2.541
AED
7.256
7.156

CHF

2.085
2.032

ZAR(Rand)

14.948
15.058

Charles’s Thoughts:  Not a good week for sterling. Sterling is having a tough time as UK consumer confidence appears to be at record lows and UK industrial output fell 0.5%. The Bank of England kept UK interest rates on hold which was as expected. The market feels that the BOE will cut UK interest rates every other month for some if not all of what remains of this year. This is in sharp contrast to the US Fed who cut US interest rates aggressively and who are not expected to cut US interest rates again in the short to medium term.

The US$ continued to do well. No obvious reasons apart from the Feds decisive approach to the US’s financial problems by cutting US interest rates quickly and by its supports for the US financial system through increased liquidity. It is also believed that the most likely direction for US interest rates is up as the belief has grown that we have seen the final cut for US interest rates, unless the US economy takes a dive, which has given further support to the US$. However, I do feel that this positive glow for the US economy is somewhat premature as there are still huge problem working their way through the system.

The European Central Bank continues to focus on inflation and as such there is little chance of cuts in Euro land interest rates, which were kept on hold this week, in the short term. However, economic problems are still very much the order of the day in Euro land [retail sales fell in March by 0.4%] and I am sure these problems will “help” to reduce inflation and then we are likely to see Euro land interest rates fall.

New Zealand is having problems and we are starting to see weakness in the New Zealand $. The commodity backed currencies had a good week as we have seen good demands for commodities.

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: “Thank you for making our currency transactions go so smoothly. As promised, our account was opened within hours. Your trading team were pleasant and efficient, and each transaction was very much at the exchange rate I expected…ie much better than the tourist rate, not a million miles away from the inter-bank rates and certainly much better than my high street bank could quote. All in all, an easy experience and we will have absolutely no hesitation in recommending your services to any of our friends buying property abroad.” Ian Pritchard

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:
Cancel

To update your contact information:
Update

Posted May 9th, 2008 by Charles Purdy

Smarts Weekly Currency Note – 9th May 2008

 
  Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers  
Weekly Currency Interbank Exchange Rates 9th May 2008

Currency
Rate Last
Week
Rate This
Week
EURO
1.280
1.261
US$
1.976
1.949
CAN$
2.010
1.962
AUS$
2.108
2.070
NZD
2.523
2.541
AED
7.256
7.156

CHF

2.085
2.032

ZAR(Rand)

14.948
15.058

Charles’s Thoughts:  Not a good week for sterling. Sterling is having a tough time as UK consumer confidence appears to be at record lows and UK industrial output fell 0.5%. The Bank of England kept UK interest rates on hold which was as expected. The market feels that the BOE will cut UK interest rates every other month for some if not all of what remains of this year. This is in sharp contrast to the US Fed who cut US interest rates aggressively and who are not expected to cut US interest rates again in the short to medium term.

The US$ continued to do well. No obvious reasons apart from the Feds decisive approach to the US’s financial problems by cutting US interest rates quickly and by its supports for the US financial system through increased liquidity. It is also believed that the most likely direction for US interest rates is up as the belief has grown that we have seen the final cut for US interest rates, unless the US economy takes a dive, which has given further support to the US$. However, I do feel that this positive glow for the US economy is somewhat premature as there are still huge problems working their way through the system.

The European Central Bank continues to focus on inflation and as such there is little chance of cuts in Euro land interest rates, which were kept on hold this week, in the short term. However, economic problems are still very much the order of the day in Euro land [retail sales fell in March by 0.4%] and I am sure these problems will “help” to reduce inflation and then we are likely to see Euro land interest rates fall.

New Zealand is having problems and we are starting to see weakness in the New Zealand $. The commodity backed currencies had a good week as we have seen good demands for commodities.

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: “Thank you for making our currency transactions go so smoothly. As promised, our account was opened within hours. Your trading team were pleasant and efficient, and each transaction was very much at the exchange rate I expected…ie much better than the tourist rate, not a million miles away from the inter-bank rates and certainly much better than my high street bank could quote. All in all, an easy experience and we will have absolutely no hesitation in recommending your services to any of our friends buying property abroad.” Ian Pritchard

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:
Cancel

To update your contact information:
Update

Posted May 8th, 2008 by Charles Purdy

Smarts Daily Currency Note – 8th May 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 8th May 2008

Currency

Rate

EURO

1.275

US$

1.952

CHF

2.068

CAN$

1.975

AUS$

2.079

Comments:  Sterling is having a tough time. UK consumer confidence appears to be at record lows. Also UK industrial output fell 0.5%. We wait to see the results of the Bank of England meeting later today. Will UK interest rates be kept on hold or cut. I suspect it will be a close call as economic data has been poor.

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 May 6th, 2008 by Charles Purdy

Smarts Daily Currency Note – 6th May 2008

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

Currency

Rate

EURO

1.273

US$

1.970

CHF

2.078

CAN$

1.991

AUS$

2.084

Comments:  Sterling is still unloved. Sterling is holding its own against the € [for the time being]. However, it has lost ground against the US$, where employment figures were better than expected last Friday, and it has lost ground against the commodity backed currencies following improved commodity prices. Sterling has to rely on weakness elsewhere rather than any positive factors of its own.

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 May 2nd, 2008 by Charles Purdy

Smarts weekly currency note – 2nd May 2008

 
  Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers  
Weekly Currency Interbank Exchange Rates 2nd May 2008

Currency
Rate Last
Week
Rate This
Week
EURO
1.269
1.280
US$
1.983
1.976
CAN$
2.016
2.010
AUS$
2.126
2.108
NZD
2.537
2.523
AED
7.286
7.256

CHF

2.052
2.085

ZAR(Rand)

15.096
14.948

Charles’s Thoughts:  Sterling seems to be getting into a trend where it does well at the end of the week. I suppose its all relative as we are still a long way from where we were in the autumn of last year. UK manufacturing input and output prices rose to record levels in April. The feeling in the market is that this means the Bank of England will keep UK interest rates on hold at next weeks meeting as inflation will be their major concern. We wait and see.

The US$ has been doing well [again all relative]. The Fed cut US interest rates, which was as expected. However the belief has grown that this could be the final cut, unless the US economy takes a dive, and as such the US$ gained support. The Fed outlook for the economy was less negative than previous announcements and inflation had come to the top of their agenda. Is the market seeing the US economy through rose tinted glasses? It may well be because there are still major economic problems.

Economic data for Euro land continues to deteriorate and the market believe that the European Central Bank will have to cut Euro land interest rates in the near future or risk a sharper downturn in economic growth. I would be surprised though if we did see the ECB reduce interest rates any time soon because inflation seems to be the ECB’s greatest concern and keeping interest rates at current levels helps control inflation. Given the strength of the German economy the € has the best economic fundamentals when compared to the US$ and sterling.

The commodity backed currencies suffered against the US$ given its strength this week. Sterling lost a bit of ground but nothing unduly significant.

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: “Thank you for making our currency transactions go so smoothly. As promised, our account was opened within hours. Your trading team were pleasant and efficient, and each transaction was very much at the exchange rate I expected…ie much better than the tourist rate, not a million miles away from the inter-bank rates and certainly much better than my high street bank could quote. All in all, an easy experience and we will have absolutely no hesitation in recommending your services to any of our friends buying property abroad.” Ian Pritchard

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:
Cancel

To update your contact information:
Update

Posted May 2nd, 2008 by Charles Purdy

Smarts Weekly Currency Note – 2nd May 2008

 
  Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers  
Weekly Currency Interbank Exchange Rates 2nd May 2008

Currency
Rate Last
Week
Rate This
Week
EURO
1.269
1.280
US$
1.983
1.976
CAN$
2.016
2.010
AUS$
2.126
2.108
NZD
2.537
2.523
AED
7.286
7.256

CHF

2.052
2.085

ZAR(Rand)

15.096
14.948

Charles’s Thoughts:  Sterling seems to be getting into a trend where it does well at the end of the week. I suppose its all relative as we are still a long way from where we were in the autumn of last year. UK manufacturing input and output prices rose to record levels in April. The feeling in the market is that this means the Bank of England will keep UK interest rates on hold at next weeks meeting as inflation will be their major concern. We wait and see.

The US$ has been doing well [again all relative]. The Fed cut US interest rates, which was as expected. However the belief has grown that this could be the final cut, unless the US economy takes a dive, and as such the US$ gained support. The Fed outlook for the economy was less negative than previous announcements and inflation had come to the top of their agenda. Is the market seeing the US economy through rose tinted glasses? It may well be because there are still major economic problems.

Economic data for Euro land continues to deteriorate and the market believe that the European Central Bank will have to cut Euro land interest rates in the near future or risk a sharper downturn in economic growth. I would be surprised though if we did see the ECB reduce interest rates any time soon because inflation seems to be the ECB’s greatest concern and keeping interest rates at current levels helps control inflation. Given the strength of the German economy the € has the best economic fundamentals when compared to the US$ and sterling.

The commodity backed currencies suffered against the US$ given its strength this week. Sterling lost a bit of ground but nothing unduly significant.

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: “Thank you for making our currency transactions go so smoothly. As promised, our account was opened within hours. Your trading team were pleasant and efficient, and each transaction was very much at the exchange rate I expected…ie much better than the tourist rate, not a million miles away from the inter-bank rates and certainly much better than my high street bank could quote. All in all, an easy experience and we will have absolutely no hesitation in recommending your services to any of our friends buying property abroad.” Ian Pritchard

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:
Cancel

To update your contact information:
Update

Posted May 1st, 2008 by Charles Purdy

Smarts Daily Currency Note – 1st May 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 1st May 2008

Currency

Rate

EURO

1.273

US$

1.989

CHF

2.061

CAN$

2.007

AUS$

2.115

Comments:  Sterling regained a bit of its poise yesterday. This was on the back of the latest [and possibly last] cut in US$ interest rates of 0.25% and further despondency in Euro land with the economic outlook. Not a great basis for confidence in sterling but we do seem to have reached a base for the time being.

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

© Copyright 2010 Smart Currency Exchange. All Rights Reserved.
Site by Iniquus