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Posted July 31st, 2009 by Charles Purdy

Smart Weekly Currency Note -31st July 2009

 
  Smart Currency Exchange – Weekly Currency Rates  
Weekly Currency Interbank Exchange Rates 31st July 2009



Currency
Rate Last
Week
Rate This
Week
EURO
1.156
1.170
US$
1.642
1.658
CAN$
1.774
1.793
AUS$
2.014
2.000
NZD
2.504
2.524
AED
6.028
6.094

CHF

1.760
1.786

ZAR(Rand)

12.788
13.006

 

Charles’s Thoughts: Sterling had a goodish week gaining ground against most currencies. Confidence seems to be returning to the economy. The UK Purchasing Managers Index for both services and manufacturing are at or are fast approaching 50. This index is viewed as being in expansion when at 50 and above and both indices have been moving strongly in the right direction over the last few months. The rate of decline in the UK economy is also moving in the right direction hitting 0.8% for the second quarter which was a significant improvement over the first quarter’s decline of 2.5%. Interest rates are going to be kept at their current low levels for the medium term and until unemployment begins to fall. The major problem for sterling is the level of UK governm ent debt and until there is a believable plan to bring it down the upside for sterling is limited.

The US$ has lost a bit of ground against sterling. This is on the back of better US economic data and an improving stock market. The economic data is very similar to the UK with a deceleration in the rate of decline in their gross domestic product, increased economic activity and interest rates to be held at low levels for the foreseeable future. The reason for the decline is the view that the US$ is a safe haven asset and as conditions improve, investors are willing to invest in riskier assets such as sterling.

Euro land still seems to be lagging the US and the UK in its economic recovery. It reacted more slowly in addressing the key problems and also has a wide range of different economies to try and manage which is far from easy. Germany suffered a larger than expected increase in unemployment last week which I think is a good indicator of the depth of the problems that exist within their industrial power base. And deflation seems to be the order of the day throughout euro land.

Commodity and high yield currencies which have enjoyed a good run in line with the stock markets had a slight pull back this week against sterling apart from the Australian $. This benefited from remarks from the Australian Central Bank which stated that they would increase interest rates even before unemployment began to fall.

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 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 (+44 0207 898 0541) 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 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


email: Charles@SmartCurrencyExchange.com
free phone: 0808 163 0102 (if calling from outside the UK, please use +44 0207 898 0541)

   


Smart Currency Exchange | 1 Lyric Square | Hammersmith | London | W6 0NB | UK

© 2005-2009 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 July 31st, 2009 by Charles Purdy

Smart Daily Currency Note – 31st July 2009

 

Smart Currency Exchange – Daily Currency Rates

 

 
Daily Inter Bank Currency Exchange Rates 31st July 2009

Currency

Rate

EURO

1.172

US$

1.649

CHF

1.794

CAN$

1.786

AUS$

1.997

Comments: Sterling’s price against the euro reached a four-week high on Thursday morning thanks largely to some weaker-than-expected German unemployment figures. Marginal gains were also made against the USD with sterling further supported by data showing a rise in UK house prices over the last month. A raft of other indifferent Euro-zone data did little to effect exchange rates late on Thursday with the more significant European-wide unemployment data due for release this afternoon.

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.



Free phone: 0808 163 0102
(Outside the UK +44 0207 898 0571)

email: Charles@SmartCurrencyExchange.com
web: http://www.SmartCurrencyExchange.com

To get a live Better-than-Bank exchange rate go to: http://www.smartCurrencyExchange.com/smartquotation.htm
or call Smart on 08081 630 102 or from overseas, please call +44 0207 898 0541.


Smart Currency Exchange | 1 Lyric Square | Hammersmith | London | W6 0NB | UK

© 2005-2009 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, 2009 by Charles Purdy

Smart Daily Currency Note – 30th July 2009

 

Smart Currency Exchange – Daily Currency Rates

 

 
Daily Inter Bank Currency Exchange Rates 30th July 2009

Currency

Rate

EURO

1.170

US$

1.648

CHF

1.789

CAN$

1.787

AUS$

2.003

Comments: Sterling has gained a bit of ground against the euro on the back of poor unemployment data out of Germany. Given the swift action taken by the US and the UK at the start of this economic crisis, Euro land seems to slightly behind the curve and as such this could lead to some upside for sterling against the euro. But as noted previously one of the problems is the lack of a credible plan in trying to reduce UK Government debt which will curtail any significant upside for sterling in the short to medium term.

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.



Free phone: 0808 163 0102
(Outside the UK +44 0207 898 0571)

email: Charles@SmartCurrencyExchange.com
web: http://www.SmartCurrencyExchange.com

To get a live Better-than-Bank exchange rate go to: http://www.smartCurrencyExchange.com/smartquotation.htm
or call Smart on 08081 630 102 or from overseas, please call +44 0207 898 0541.


Smart Currency Exchange | 1 Lyric Square | Hammersmith | London | W6 0NB | UK

© 2005-2009 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 29th, 2009 by Charles Purdy

Smart Daily Currency Note – 29th July 2009

 

Smart Currency Exchange – Daily Currency Rates

 

 
Daily Inter Bank Currency Exchange Rates 29th July 2009

Currency

Rate

EURO

1.157

US$

1.637

CHF

1.761

CAN$

1.780

AUS$

2.000

Comments: Again another day of little movement against the €. The US$ was a bit more exciting as we saw an increase in risk aversion and therefore a strengthening of the US$ on its safe haven status. The housing data out of the US has been supportive of a bottom being reached as some parts of the US have begun to see an increase in house prices and the sale of new houses has turned upwards. The Australian $ gained ground as their Reserve Bank said that they would consider increasing interest rates even before unemployment had peaked. But the comment I take most notice of is that from BP with their quarterly results which was that they didn’t see a global recovery “any time soon”. I suspect given the spare industrial capacity that this now exists that this is a reasonable comment.

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.



Free phone: 0808 163 0102
(Outside the UK +44 0207 898 0571)

email: Charles@SmartCurrencyExchange.com
web: http://www.SmartCurrencyExchange.com

To get a live Better-than-Bank exchange rate go to: http://www.smartCurrencyExchange.com/smartquotation.htm
or call Smart on 08081 630 102 or from overseas, please call +44 0207 898 0541.


Smart Currency Exchange | 1 Lyric Square | Hammersmith | London | W6 0NB | UK

© 2005-2009 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 28th, 2009 by Charles Purdy

Smart Daily Currency Note – 28th July 2009

 

Smart Currency Exchange – Daily Currency Rates

 

 
Daily Inter Bank Currency Exchange Rates 28th July 2009

Currency

Rate

EURO

1.157

US$

1.654

CHF

1.765

CAN$

1.779

AUS$

1.988

Comments: Nothing much to report. Perhaps its the summer holidays and everyone is away. The US$ is at the top end of its recent range hovering around US$1.65/£1. The stock markets have, following positive positive earnings figures from US companies, been on an upward curve increasing risk appetite which is a negative for safe haven assets such as the US$ and the Japanese Yen.

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.



Free phone: 0808 163 0102
(Outside the UK +44 0207 898 0571)

email: Charles@SmartCurrencyExchange.com
web: http://www.SmartCurrencyExchange.com

To get a live Better-than-Bank exchange rate go to: http://www.smartCurrencyExchange.com/smartquotation.htm
or call Smart on 08081 630 102 or from overseas, please call +44 0207 898 0541.


Smart Currency Exchange | 1 Lyric Square | Hammersmith | London | W6 0NB | UK

© 2005-2009 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

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London, London
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GB

If you no longer wish to receive communication from us:
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Posted July 24th, 2009 by Charles Purdy

Smart Weekly Currency Note – 24th July 2009

 
  Smart Currency Exchange – Weekly Currency Rates  
Weekly Currency Interbank Exchange Rates 24th July 2009

Currency
Rate Last
Week
Rate This
Week
EURO
1.156
1.156
US$
1.632
1.642
CAN$
1.824
1.774
AUS$
2.038
2.014
NZD
2.539
2.504
AED
5.996
6.028

CHF

1.758
1.760

ZAR(Rand)

13.144
12.788

 

Charles’s Thoughts: A quite week for sterling as it tended to trade in a narrow range against both the US$ and the €. It seems to be waiting for a catalyst to give it some momentum one way or the other. The initial estimate of 2nd quarter gross domestic product released during the week showed a larger contraction than expected but was a vast improvement on the previous quarter. This has been taken as a sign that the economy is close to the bottom of this recession. This view was also supported by the minutes from the last Bank of England meeting which highlighted that the BoE was unlikely in the short term to increase its programme of quantitative easing. The reason given was the need to properly assess the affect of the programme to date. This makes sense. The major constraint for sterling is the level of government debt and the lack of a plan [or political will power] from the government to bring it down. Until this is resolved the upside for sterling is limited.

The US$ also had an uneventful week. At the start of the week the Federal Reserve Chairman reported to Congress and made it very clear that the key aim was to continue to nurture the green shoots of recovery. Their major “support” for this approach is to keep interest rates low until it is very clear that the recovery is robust. This usually means that unemployment is falling. I have no reason to think differently this time and as most forecasts seen to think this will not happen until 2011 we are in for a long period of low interest rates. A similar approach is likely from the UK and Euro land central banks. The US$ did lose a bit of ground against sterling on the rise of risk appetite.

The economic landscape in euro land seems to be very similar to that of the US and the UK. The pace of the decline is slowing which gives the feeling that we are close to the bottom. This is supported by a the rise in the purchasing managers survey in the manufacturing and services sector which both increased in July to the 45-46 level. Still less than the magic 50 which indicates expansion but at the very least they are going in the right direction.

The commodity backed and/or higher interest paying currencies all had a good week as risk appetite came to the fore. There seems to be a restocking underway and iron ore prices have shown a near doubling over the last six months. I hope it isn’t too much too soon.

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 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 (+44 0207 898 0541) 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 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


email: Charles@SmartCurrencyExchange.com
free phone: 0808 163 0102 (if calling from outside the UK, please use +44 0207 898 0541)

   


Smart Currency Exchange | 1 Lyric Square | Hammersmith | London | W6 0NB | UK

© 2005-2009 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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W6 0NB
GB

If you no longer wish to receive communication from us:
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Posted July 24th, 2009 by Charles Purdy

Smart Daily Currency Note – 24th July 2009

 

Smart Currency Exchange – Daily Currency Rates

 

 
Daily Inter Bank Currency Exchange Rates 24th July 2009

Currency

Rate

EURO

1.164

US$

1.652

CHF

1.771

CAN$

1.800

AUS$

2.025

Comments: A bit of strength for sterling on the back of some comments from a member of the Bank of England’s Monetary Policy Committee who gave the impression that the BoE’s policy of quantitative easing was on the back burner for the time being as they assess the effect of the policy to date. This was appreciated by the equity markets but not by the bond market especially as a record number of government bonds had literally just been sold less than an hour before and the price sensitive nature of the comments. I suppose the positive is that the government had buyers for their debt. I wonder if this will last as it is the major negative holding back sterling from strengthening shorter term.

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.



Free phone: 0808 163 0102
(Outside the UK +44 0207 898 0571)

email: Charles@SmartCurrencyExchange.com
web: http://www.SmartCurrencyExchange.com

To get a live Better-than-Bank exchange rate go to: http://www.smartCurrencyExchange.com/smartquotation.htm
or call Smart on 08081 630 102 or from overseas, please call +44 0207 898 0541.


Smart Currency Exchange | 1 Lyric Square | Hammersmith | London | W6 0NB | UK

© 2005-2009 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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London, London
W6 0NB
GB

If you no longer wish to receive communication from us:
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Posted July 23rd, 2009 by Charles Purdy

Smart Daily Currency Note – 23rd July 2009

 

Smart Currency Exchange – Daily Currency Rates

 

 
Daily Inter Bank Currency Exchange Rates 23rd July 2009

Currency

Rate

EURO

1.159

US$

1.651

CHF

1.759

CAN$

1.813

AUS$

2.015

Comments: The minutes of the last Bank of England meeting were released yesterday and said much as expected; the worse seems to be over, interest rates are unlikely to be increasing anytime soon and they want to wait until they see the raft of detailed economic data out prior to their next meeting in August before making any decision on increasing the amount of money they make available for the programme of quantitative easing. The overall result was that sterling had an okay day but it still lacks any real direction. The major constraint on any significant upside especially against the € is the need for a clear plan by the government to get on top of and reduce the extraordinary levels of government debt. It seems we are unlikely to see a clear plan for a while.

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.



Free phone: 0808 163 0102
(Outside the UK +44 0207 898 0571)

email: Charles@SmartCurrencyExchange.com
web: http://www.SmartCurrencyExchange.com

To get a live Better-than-Bank exchange rate go to: http://www.smartCurrencyExchange.com/smartquotation.htm
or call Smart on 08081 630 102 or from overseas, please call +44 0207 898 0541.


Smart Currency Exchange | 1 Lyric Square | Hammersmith | London | W6 0NB | UK

© 2005-2009 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

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London, London
W6 0NB
GB

If you no longer wish to receive communication from us:
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Posted July 22nd, 2009 by Charles Purdy

Smart Daily Currency Note – 22nd July 2009

 

Smart Currency Exchange – Daily Currency Rates

 

 
Daily Inter Bank Currency Exchange Rates 22nd July 2009

Currency

Rate

EURO

1.151

US$

1.633

CHF

1.746

CAN$

1.808

AUS$

2.003

Comments: Sterling suffered as the enormity of the UK debt begins to hit home. US$13bn was the increase in June for public sector net borrowing. And the picture is not expected to improve in the coming months as tax revenue continues to fall and the government fails to cut costs. I think sterling will not be able to gain much ground until there is a credible plan of action to reduce this debt and the current government with an election looming seems to lack the political will power to do so. In the US the Chairman’s statement to the US Congress made it clear that there were still very significant problems and risks ongoing and it was unlikely that US interest rates would be increased in the short to medium term. This raised risk aversion which is positive for the US$. So I think a bit or realism on the world economy was the order of the day yesterday.

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.



Free phone: 0808 163 0102
(Outside the UK +44 0207 898 0571)

email: Charles@SmartCurrencyExchange.com
web: http://www.SmartCurrencyExchange.com

To get a live Better-than-Bank exchange rate go to: http://www.smartCurrencyExchange.com/smartquotation.htm
or call Smart on 08081 630 102 or from overseas, please call +44 0207 898 0541.


Smart Currency Exchange | 1 Lyric Square | Hammersmith | London | W6 0NB | UK

© 2005-2009 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 Lyric Square
London, London
W6 0NB
GB

If you no longer wish to receive communication from us:
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Posted July 21st, 2009 by Charles Purdy

Smart Daily Currency Note – 21st July 2009

 

Smart Currency Exchange – Daily Currency Rates

 

 
Daily Inter Bank Currency Exchange Rates 21st July 2009

Currency

Rate

EURO

1.160

US$

1.646

CHF

1.763

CAN$

1.827

AUS$

2.030

Comments: A day when the markets seemed to get ahead of themselves which meant that risk appetitive returned. As has been the norm over the last few months the US$ lost value and higher risk assets such as sterling and the commodity backed currencies like the Australian $ gained value. Good news yesterday seemed to be based more on how to extrapolate the limited information released such as further signs of an improvement in the UK housing market or on rumour such as the German government considering a US style bank recapitalisation plan. I think most of us would still be if the view that the road to recovery is long and hard for the world’s economies. The € continues to oscillate around the €1.16/£1 mark.

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.



Free phone: 0808 163 0102
(Outside the UK +44 0207 898 0571)

email: Charles@SmartCurrencyExchange.com
web: http://www.SmartCurrencyExchange.com

To get a live Better-than-Bank exchange rate go to: http://www.smartCurrencyExchange.com/smartquotation.htm
or call Smart on 08081 630 102 or from overseas, please call +44 0207 898 0541.


Smart Currency Exchange | 1 Lyric Square | Hammersmith | London | W6 0NB | UK

© 2005-2009 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

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London, London
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GB

If you no longer wish to receive communication from us:
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