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Posted July 31st, 2008 by Charles Purdy

Smart Daily Currency Note – 31st July 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 31st July 2008


Currency

Rate

EURO

1.268

US$

1.982

CHF

2.073

CAN$

2.027

AUS$

2.095

Comments:  Sterling continued to tread water yesterday as it maintained its level against most major currencies except the US$, where it fell to a three-week low. Tension is building as the major UK banks all prepare to announce their interim reports over the coming weeks. Following the 70 percent drop in profits announced by Lloyds TSB yesterday, good news is not expected by many. Whilst an interest cut may needed in the markets to boost growth, inflationary fears are perhaps the main focus for the Bank of England for the rest of the year.

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 July 30th, 2008 by Charles Purdy

Smart Daily Currency Note – 30th July 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 30th July 2008

Currency

Rate

EURO

1.270

US$

1.983

CHF

2.072

CAN$

2.028

AUS$

2.091

Comments:  The US$ was the pick of the litter yesterday as it made broad gains most notably against sterling and the Euro. This was following a much more positive US consumer confidence report than was previously anticipated. However Second-quarter GDP data will be released later in the week and will doubtlessly test whether this improvement will be lasting. Yet more negative housing data, specifically mortgage approvals data, showing that figures were down to a record low in June, limited sterling’s gains against the Euro. This data is very much a bench mark for where house prices are likely to be going in the future months, and may well be an ominous sign for how long the current downturn in the market will last.

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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Posted July 29th, 2008 by Charles Purdy

Smart Daily Currency Note – 29th July 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 29th July 2008

Currency

Rate

EURO

1.267

US$

1.995

CHF

2.062

CAN$

2.039

AUS$

2.083

Comments:  Yesterday morning sterling lost ground against the Euro, largely thanks to data released showing that house prices had fallen in the UK for the tenth consecutive month. Though a late rally saw rates adjust back to similar levels to which we saw most of last week. The US$ felt the weight of confidence in the financial sector continuing to deteriorate, with even the White House going on record yesterday to admit that growth had slowed considerably over the last few months.

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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Posted July 25th, 2008 by Charles Purdy

Smart Weekly Currency Note – 25th July 2008

 
  Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers  
Weekly Currency Interbank Exchange Rates 25th July 2008

Currency
Rate Last
Week
Rate This
Week
EURO
1.260
1.266
US$
1.997
1.990
CAN$
2.009
2.021
AUS$
2.053
2.078
NZD
2.621
2.681
AED
7.340
7.313

CHF

2.025
2.064

ZAR(Rand)

15.210
15.084

Charles’s Thoughts:  The pound threatened to buck the recent trend and pushed for month-high prices against most major currencies early in the week. In their published MPC meeting minutes, the Bank of England showed in that although the majority of the members voted to keep rates on hold, there was a three-way split for only the second time since the start of its independence in 1997. The pound would appear to be ending the week on the back foot and with more poor economic data strengthening the case for a cut in rates the downside risk for sterling could well be greater than the upside potential in the short term.

The US$ had an indifferent week as it sought to regain its losses from last weeks news on the giant mortgage lenders Fannie Mae and Freddy Mac. The dollar faltered on Thursday morning with the release of weekly U.S. jobless claims data, which rose to match a three-year high. However, the dollar remains stronger this week versus the Euro, supported by gloomy reports from outside the U.S. on the global situation, recent hawkish comments from the Federal Reserve, and greater confidence that U.S. officials will prop up the faltering housing market.

The Euro is maintaining its strong position on the markets and fending off speculation that the rot of the credit crisis is finally setting in for mainland Europe. Spanish unemployment is in double digits for this quarter to over 10% and with the country threatening to enter a lengthy recession, such events may well send a message that the new force in the currency markets is finally running out of steam.

Again, no major movement for sterling against the high yield and/or commodity backed currencies although speculation of New Zealand falling towards a recession has meant that interest rates are likely to be cut and the NZ Dollar may well weaken significantly in the coming period.

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 traders were pleasant and efficient, and each transaction was very much at the exchange rate I expected…ie 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 trouble!



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 July 24th, 2008 by Charles Purdy

Smart Daily Currency Note – 24th July 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 24th July 2008

Currency

Rate

EURO

1.268

US$

1.986

CHF

2.061

CAN$

2.007

AUS$

2.068

Comments:  Sterling was boosted yesterday and made unexpected gains against most major currencies due to a “hawkish outlook” in the minutes released yesterday from the MPC meeting earlier this month. It was only the 2nd time since its independence in 1997 there has been a three-way split from the members voting. It will be interesting to gauge whether the improvement will be lasting, as a JPMorgan spokesperson said “With significant event risk in the coming days, we would be cautious in chasing the pound higher from current levels.”.

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 July 23rd, 2008 by Charles Purdy

Smart Daily Currency Note – 23rd July 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 23rd July 2008

Currency

Rate

EURO

1.264

US$

1.991

CHF

2.058

CAN$

2.011

AUS$

2.058

Comments:  A drop in the price of oil and suggestions from one member of the Federal Reserve that interest rates could well be hiked by the Federal reserve saw the US$ claw-back some of its losses against sterling and Euro from earlier in the month in an otherwise uneventful day on the markets yesterday. On this side of the water, today the Bank of England will release their minutes from this month’s MPC meeting, but little in terms of a surprise in how their members voted is expected and an assessment of the general mood is likely to be what is most closely watched.

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 July 22nd, 2008 by Charles Purdy

Smarts Daily Currency Note – 22nd July 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 22nd July 2008

Currency

Rate

EURO

1.262

US$

2.005

CHF

2.038

CAN$

2.013

AUS$

2.050

Comments:  An uneventful day for sterling yesterday saw rates continue to be steady much as they have been over the last few weeks. However clouds are gathering again due to tension regarding the future of HBOS and their shareholders whilst more housing market data out yesterday reinforced mounting news of further UK house prices falls. Pressure will continue to grow for the Bank of England to reduce UK interest rates though chances of any immediate remedy to the crisis are slim to none.

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 July 18th, 2008 by Charles Purdy

Smart Weekly Currency Note -18th July 2008

 
  Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers  
Weekly Currency Interbank Exchange Rates 18th July 2008

Currency
Rate Last
Week
Rate This
Week
EURO
1.251
1.260
US$
1.989
1.997
CAN$
2.008
2.009
AUS$
2.056
2.053
NZD
2.614
2.621
AED
7.307
7.340

CHF

2.025
2.025

ZAR(Rand)

15.306
15.210

Charles’s Thoughts:  Sterling remained steady this week and has kept within a tight trading range against most currencies. In the last 3 months the price has found a new base and this stability is perhaps owing to forecasts that interest rates are to remain on hold in the UK until the end of the year. UK unemployment figures released early in the week showed an increase and mean that sterling is unlikely to see much upside in the short to medium term.

The US$ fell against the € to record lows this week with Fannie Mae and Freddy Mac, the giant US mortgage companies, having to be bailed much like Northern Rock had been here. All of this helping to remind the world economy that there are still more casualties to come from this credit crunch. Sterling maintained a price above 2 dollars for the first time since April for part of the week.

In spite of mixed European data and despite reports that the region may enter an “economic growth trough”, the € has maintained a strong position against all major currencies. European exports dropped by 3.4% in May [perhaps due to the overpriced €] and it remains to be seen if the Eurozone will continue to be immune to what is supposedly a global economic crisis.

Again, no major movement for sterling against the high yield and/or commodity backed currencies.

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 traders were pleasant and efficient, and each transaction was very much at the exchange rate I expected…ie 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 trouble!



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 July 17th, 2008 by Charles Purdy

Smarts Daily Currency Note – 17th July 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 17th July 2008

Currency

Rate

EURO

1.262

US$

2.004

CHF

2.036

CAN$

2.006

AUS$

2.050

Comments:  UK Unemployment figures released yesterday showed numbers out of work increase at the highest rate for 16 years. This saw sterling lose some of the recent gains against the US$ but maintain its marginal improvement this week so far against the Euro. Slowing growth and rising prices mixed with increased unemployment may now cause the few optimists left on these shores to admit that any recovery from this ‘economic down-turn’ will take longer than perhaps first expected.

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 July 16th, 2008 by Charles Purdy

Smarts Daily Currency Note – 16th July 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 16th July 2008

Currency

Rate

EURO

1.259

US$

2.008

CHF

2.021

CAN$

2.011

AUS$

2.054

Comments:  Sterling broke through the two dollar threshold yesterday and made small gains against the Euro despite inflation at almost twice the Bank of England’s target rate. Signs that investor confidence in the Eurozone is waning weakened the Euro across the board, showing that they (new and old Europe) are by no means immune to the ‘credit crunch’.

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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