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Posted August 29th, 2008 by Charles Purdy

Smart Weekly Currency Note – 29th August 2008

 
  Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers  
Weekly Currency Interbank Exchange Rates 29th August 2008


Currency
Rate Last
Week
Rate This
Week
EURO
1.252
1.241
US$
1.851
1.819
CAN$
1.939
1.935
AUS$
2.136
2.122
NZD
2.613
2.600
AED
6.802
6.689

CHF

2.034
2.007

ZAR(Rand)

14.218
14.037

Charles’s Thoughts:  Sterling continued to fall throughout the week and lost ground on most major currencies as the intensifying talk of recession, poor market data and bleak forecasts for the UK economy took their toll on the pound in the markets. The Nationwide house price figures released on Thursday and further confirmation from Land registry certainly added to these woes. The steepest decline in prices since 1991 (and the last recession on these shores) will do nothing to boost confidence in a UK economy in dire need of reviving.

The US$, having hit a two-year high against the pound this week, is maintaining its high levels despite inconsistent, and in some ways contradicting, market data and figures. A grossly undervalued US$ over the past year has been the quoted as one of the main forces behind such a dramatic turn-around for the world’s reserve currency, but having seen the economy rebound to growth so unexpectedly and the prospect of several hikes in interest rates in the coming year will not have harmed its value at all.

The euro is just about treading water at the moment. Harmed by speculation of a potential recession over the past weeks, the euro has lost where the dollar has gained. However, thanks to comments from certain ECB members playing down ‘premature’ rumours of future cuts in interest rates, the euro rallied back against the pound and stemmed the flow against the US$ finishing the week only marginally lower.

The Canadian $ is at its strongest level against the pound for since November last year and for several years before then. Despite the commodity bubble having ‘burst’ there was no major movement on the high yield and/or commodity backed currencies, though the sterling fell to its lowest levels against South African Rand since January this year.

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!





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Posted August 28th, 2008 by Charles Purdy

Smart Daily Currency Note – 28th August 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 28th August 2008

Currency

Rate

EURO

1.243

US$

1.836

CHF

2.006

CAN$

1.920

AUS$

2.120

Comments:  Yesterday sterling continued to ebb lower still against the euro and closed relatively unchanged against the US$. Poor house price data weighed on the pound and pushed rates for the euro close to the record lows of earlier this year. The European Central Bank’s comments yesterday suggesting that talk of lowering interest rates in the Eurozone could be premature, helped the euro claw back some its recent losses against the US$ and will arguably put even more pressure on the Bank of England to keep their rates on hold.

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 August 27th, 2008 by Charles Purdy

Smart Daily Currency Note – 27th August 2008

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

Currency

Rate

EURO

1.253

US$

1.845

CHF

2.020

CAN$

1.926

AUS$

2.142

Comments:  Sterling made marginal losses against the US$ and closed relatively unchanged against the euro in a quiet day on the markets yesterday. But for the mounting speculation that the current financial crisis in the UK will drag on for potentially years to come, the pound may well have regained some of the past year’s losses against the euro as the region itself now faces a recession of its own. The US$ has been the main mover of late, and breached a six-month high against the euro as consumer confidence grows and house prices begin to stabilise.

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 August 23rd, 2008 by Charles Purdy

Smart Weekly Currency Note – 23rd August 2008

 
  Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers  
Weekly Currency Interbank Exchange Rates 23rd August 2008

Currency
Rate Last
Week
Rate This
Week
EURO
1.269
1.252
US$
1.861
1.851
CAN$
1.974
1.939
AUS$
2.151
2.136
NZD
2.637
2.613
AED
6.838
6.802

CHF

2.044
2.034

ZAR(Rand)

14.677
14.218

Charles’s Thoughts:  Following a quiet start to the week for market data, sterling faltered again this week. Poor second quarter GDP and retail sales data sent the pound lower still against the US$ and to the lower end of its recent four month trading range against the euro. For the second month running the Bank of England’s meeting minutes released this week highlighted a difference of opinion within the ranks of the MPC by way of a three-way split, suggesting perhaps that long-term policy remains undecided.

The recently resurgent US$ maintained the last month’s gains and survived the ‘profit taking’ speculation that the currency would quickly rebound from its record highs. Despite heightening concerns regarding the stability of certain major lenders and the financial sector as a whole, the US$ is benefiting from the drop in price of commodities and and the continuing belief that interest rates will almost certainly be hiked by the end of the year. The Federal Reserve however, is playing its cards close to its chest.

Although ending the week higher against the Pound and the US$, the euro had an indifferent week on the markets as rumours persist of its economy having ground to a halt. Weak German economic data and a decline in business confidence have leant to the feeling that interest rates could well be lowered in the following year as the credit crunch, now a year old, is finally beginning to take its toll on the Euro-zone.

There was no major news on the markets for 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:
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To update your contact information:
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Posted August 21st, 2008 by Charles Purdy

Smart Daily Currency Note – 21st August 2008

 
Smart Currency Exchange – Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 21st August 2008

Currency

Rate

EURO

1.261

US$

1.866

CHF

2.041

CAN$

1.976

AUS$

2.138

Comments:  There was another three-way split amongst the voting members of the Bank of England’s MPC earlier this month. So for the second month running the meeting minutes released yesterday have illustrated the difference of opinion within the ranks of the MPC and long-term policy remains undecided. The short-term effects on the pound yesterday were to close the day relatively unchanged against most major currencies including the euro and the US$. UK Retail sales data to be released this morning will be a strong indicator for domestic consumer demand and business growth which, of late, has not been favourable 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 August 20th, 2008 by Charles Purdy

Smart Daily Currency Note – 20th August 2008

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

Currency

Rate

EURO

1.261

US$

1.861

CHF

2.039

CAN$

1.980

AUS$

2.138

Comments:  This morning the Bank of England will release the minutes from their MPC meeting earlier this month. How the members voted following last month’s three-way split will perhaps give the strongest indication yet as to how much and how soon the base rate will be cut by in order to accommodate business growth in a faltering UK economy. Yesterday, sterling made marginal losses against the euro and closed practically unchanged against the US$. However, the scale of the recent drop in price against the US$ could perhaps be seen to be the end of a 4 year run and what have been greatly inflated prices around the $2mark.

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 August 19th, 2008 by Charles Purdy

Smart Daily Currency Note – 19th August 2008

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

Currency

Rate

EURO

1.266

US$

1.858

CHF

2.038

CAN$

1.977

AUS$

2.145

Comments:  In a quiet day for market data, sterling managed to keep to its recent levels yesterday and closed fractionally lower against the Euro and the US$. A rise in commodity prices, specifically gold, as well as reminders of the turmoil still present within the housing market in America saw the US$ lose some ground against the Euro and the commodity-backed currencies such as the New Zealand and Australian $.

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:
Update

Posted August 15th, 2008 by Charles Purdy

Smart Weekly Currency Note – 15th August 2008

 
  Smart Currency Exchange – Weekly Currency Rates for Overseas Property Buyers  
Weekly Currency Interbank Exchange Rates 15th August 2008

Currency
Rate Last
Week
Rate This
Week
EURO
1.279
1.269
US$
1.920
1.861
CAN$
2.048
1.974
AUS$
2.159
2.151
NZD
2.724
2.637
AED
7.053
6.838

CHF

2.077
2.044

ZAR(Rand)

14.865
14.677

Charles’s Thoughts:  Sterling’s gains from the previous week were shed rather quickly following the Bank of England’s inflation report this week. Sharp losses against almost all major currencies were felt as the reality concerning the state of the UK economy was spelt out in clear terms by Mervin King. An easing bias, or in layman’s terms, the intention to cut the base rate to help boost growth within the economy, was the main theme drawn from the report as the markets adjusted, sending sterling yet another step back in its climb out of the mire.

The US$ continued its climb against all currencies this week and has found itself at its highest level against the Pound for two years and its highest level against the Euro for over six months. Further drops to the price of commodities and metals have leant support to the resurgent US$ and expectations of hikes in interest rates from the Federal Reserve of America have already been priced-in. How far the US$ will continue to go before settling will almost certainly be a matter of interest within the markets as the apparent shift in focus to economic growth has taken over from the concerns of relative inflation.

The Euro had a relatively quiet week and maintained its prices against sterling, as it has done for the last few months now. There was no other significant movement for or against, with exception of rates against the US$. The Euro’s outlook is slowly beginning to darken due to a speculation of a potential recession in key member states of the EU and rate cuts to come perhaps by the end of the year. How quickly the tables turn.

The Australian $ along with the other High yield and/or commodity backed currencies suffered by the US$’s gains. The Aussie alone has lost 11% in value against the US$ in the last month as cuts in interest rates are now forecast from the Reserve Bank of Australia in the coming year.

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 August 14th, 2008 by Charles Purdy

Smart Daily Currency Note – 14th August 2008

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

Currency

Rate

EURO

1.254

US$

1.869

CHF

2.033

CAN$

1.987

AUS$

2.134

Comments:  Sterling’s recent losses against most major currencies were exacerbated by a rather dour forecast on the UK economy in the Bank of England’s inflation report released yesterday morning. The markets reacted swiftly to suggestions that we may now have a series of cuts in the base rate to look forward to in the coming year as well as inflation peaking at 5%. Unemployment data also contributed to the sharp drop on exchange rates yesterday as now we are almost surely condemned to entering a steep recession in the coming period.

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 August 13th, 2008 by Charles Purdy

Message created 8/13/2008 4:22:10 AM

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

Currency

Rate

EURO

1.271

US$

1.897

CHF

2.061

CAN$

2.021

AUS$

2.185

Comments:  Sterling dropped to its lowest price against the US$ in two years yesterday as inflation data weighed on the pound. Inflation was expected to be high, but reports showing that it is more than double the bank of England’s target rate, dented confidence in the UK economy and left sterling marginally lower against most currencies, including the Euro, at close of business. Calls for a hike in interest rates may now grow louder as the Bank of England’s quarterly inflation report, due out today, will almost certainly have an important bearing on the future plans for the base rate and the issue of ‘stagflation’(slowing growth and increasing 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

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