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Posted September 30th, 2009 by Charles Purdy

Smart Daily Currency Note – 30th September 2009

 

Smart Currency Exchange – Daily Currency Rates

 

 
Daily Inter Bank Currency Exchange Rates 30th September 2009
 

Currency

Rate

EURO

1.098

US$

1.605

CHF

1.660

CAN$

1.733

AUS$

1.825

Comments: A surprise rise in UK retail figures for September boosted sterling against the euro and the US$. Consumer spending is a key part of the UK’s gross domestic product and this increase supports the view that the UK is set to grow in the third quarter. In the US there was a rise in US house prices which was a positive but a survey of US consumer confidence showed a fall. So mixed messages. In euro land consumer confidence continues to rise albeit at slower rates and at much reduced levels when compared to two years ago. A significant factor in this must be the strong euro which makes exports more costly and it was interesting to see rhetoric from the European Central Bank supporting the need for a strong US$. So in the absence of any comments from the Governor of the Bank of England ste rling seems to be clawing its way back.

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 0541)

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 September 29th, 2009 by Charles Purdy

Smart Daily Currency Note – 29th September 2009

 

Smart Currency Exchange – Daily Currency Rates

 

 
Daily Inter Bank Currency Exchange Rates 29th September 2009
 

Currency

Rate

EURO

1.088

US$

1.592

CHF

1.643

CAN$

1.723

AUS$

1.817

Comments: Not much to report as it was a quiet day for sterling which gained a little bit of ground against the US$ and the €. The main talk in the market was whether the Japanese government would or would not try and weaken the Japanese Yen through government intervention. Their Finance Minister seemed to say he would not and then said he would. All very confusing. Also there was discussion about which central bank would be the first to first start to reduce their liquidity provisions such as quantitative easing. The US government headed the list but I suspect it is much too early to make such a prediction. Overall sterling will continue to be under pressure.

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 September 25th, 2009 by Charles Purdy

Smarts Weekly Currency Note – 25th September 2009

 
  Smart Currency Exchange – Weekly Currency Rates  
Weekly Currency Interbank Exchange Rates 25th September 2009
 

Currency
Rate Last
Week
Rate This
Week
 
EURO
1.104
1.087
US$
1.625
1.595
CAN$
1.740
1.743
AUS$
1.871
1.845
NZD
2.290
2.226
AED
5.971
5.862

CHF

1.673
1.642

ZAR(Rand)

12.059
11.855

Charles’s Thoughts: The week got off to a quiet start with the markets waiting for the minutes of the last Bank of England meeting which were released on Wednesday. The minutes contained no surprises. The committee members agreed as one to keep the level of quantitative easing at current levels [£175bn] and there was no mention of reducing the interest rates at which the BoE paid on deposits held with it by the banks. Then Mervyn King the Governor of the Bank of England made it clear that he welcomed a weak sterling and this caused sterling to weaken. His logic was that a weak sterling would boost exports. One of the problems with this logic is that it assumes we have things we can export which given the state of UK industry makes me wonder. It also assumes that other countries want to o r have the capability to buy our products which given the credit crunch is worldwide may be a wrong assumption. One theory that I have seen for the Governors determination to undermine sterling is that it is one of the few controls he has at his disposal to hit the BoE’s inflation target of 2% by increasing the cost of imports. This could well be the case but the problem is that once a currency starts to weaken it is very difficult for a central bank to stop the rot.

The US$ has gained against sterling which isn’t a surprise given sterling is the weakest currency over the last year losing 15% on a trade waited basis. But it has been suffering against the euro, although it did pull back from one year lows, and other currencies given its dual deficits of budget and balance of payments. The Federal Reserve met this week and overall its announcement was positive on the economy with signs of improvement but cautious on the speed of the recovery given the surplus capacity that existed. Therefore US interest rates will be kept at current levels for quite a while. The US has committed to better fiscal management given that for the US$ to maintain the status of the world’s reserve currency then it will have to convince the world that it has some value.

The euro continues to be flavour of the week/month/year. Business confidence in Germany continued its upward trend albeit slightly below those predicted by the analysts. As Germany is a key driver of the euro zone economy this is positive for the euro zone. This weekend we have the German elections and it is expected to be a close run. Some market commentators are predicting the euro to approach parity with sterling by the year end [i.e. €1=£1] whereas some believe sterling to be undervalued against the euro. However sentiment at this moment in time is with the euro and as such the upside for sterling is limited whereas the possibility of parity higher.

There seems to be no limit to how far the high-yield/commodity backed currencies will go as they continue their strong run. We are seeing multi-year highs from the South-African Rand, Australian and New Zealand. However the Canadian dollar fell back slightly. Commodities have enjoyed an incredible run and I do wonder if we are will begin to see a fall back in commodity prices and a knock affect on these 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 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).

Posted September 25th, 2009 by Charles Purdy

Smart Daily Currency Note – 25th September 2009

 

Smart Currency Exchange – Daily Currency Rates

 

 
Daily Inter Bank Currency Exchange Rates 25th September 2009
 

Currency

Rate

EURO

1.088

US$

1.599

CHF

1.645

CAN$

1.739

AUS$

1.839

Comments: Mervyn King, the Governor of the Bank of England, did it again. He opened his mouth and sterling weakened. In his pronouncement he made it clear that he favoured a weak pound as this would boost exports. Two problems with this. Firstly where are we going to produce these exports given the lack of UK industry and secondly once a central bank has undermined a currency it is very difficult if near enough impossible for it to stop the weakening. The euro benefited from the sixth consecutive month improvement in German business confidence. Given how core Germany is this must be good news for the euro.

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 September 24th, 2009 by Charles Purdy

Smart Daily Currency Note – 24th September 2009

 

Smart Currency Exchange – Daily Currency Rates

 

 
Daily Inter Bank Currency Exchange Rates 24th September 2009
 

Currency

Rate

EURO

1.110

US$

1.638

CHF

1.679

CAN$

1.757

AUS$

1.872

Comments: Following the release of the Bank of England minutes from their last meeting sterling gained ground against most currencies. I suppose its all relative as sterling is still in a downward trend with any news that could be treated as negative for sterling being taken as such. The minutes showed that all members had agreed to wait and see regarding quantitative easing and the effect of the recent increase in the programme to £175bn. There was also no mention in the minutes about reducing the interest rate paid by the central bank on the funds held by the banks with them. This has been viewed by the banks as quantitative easing by the back door. But an interesting article in the FT highlighted that the BoE may well be using sterling weakness as a tool, in the absence of them being able to increase UK interest rates for the foreseeable future, to hit the inflation target of 2%. In the US the Federal reserve kept interest rates on hold which was as expected and made positive noise on progress in the economy with the caveat that you have to be ever vigilant as the road to recovery will be long and hard.

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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GB

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Posted September 23rd, 2009 by Charles Purdy

Smart Daily Currency Note – 23rd September 2009

 

Smart Currency Exchange – Daily Currency Rates

 

 
Daily Inter Bank Currency Exchange Rates 23rd September 2009
 

Currency

Rate

EURO

1.106

US$

1.636

CHF

1.674

CAN$

1.749

AUS$

1.871

Comments: Today we have the minutes of the Bank of England’s last meeting. The surprise contained in the minutes of the last meeting, when it was revealed that the Governor of the BoE had voted for an even larger increase in the quantitative easing programme than that announced, led to further weakness in sterling. There were two problems with the minutes; firstly the market doesn’t like surprises and secondly anything that in any way undermines sterling gives renewed impetus to the market selling sterling. Sterling had a steady day against the € and gained a bit of ground against the US$. The gain against the US$ was on the back of increased risk appetite as confidence in the world recovery increased. Elsewhere the commodity backed currencies also had a good day as the increased confiden ce fed through to commodity prices.

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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GB

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Posted September 22nd, 2009 by Charles Purdy

Smart Daily Currency Note – 22nd September 2009

 

Smart Currency Exchange – Daily Currency Rates

 

 
Daily Inter Bank Currency Exchange Rates 22nd September 2009
 

Currency

Rate

EURO

1.104

US$

1.628

CHF

1.674

CAN$

1.745

AUS$

1.866

Comments: Sterling staged a slight recovery yesterday. This was following a Bank of England report that seemed to show that the depreciation of sterling was long term. The initial effect was to see sterling hit short term lows against the euro as the market is very quick to sell sterling on any news which it perceives to be bad. I think we all probably accept that for sterling to strengthen there needs to be a major change in how the UK economy operates given the twin deficits of government budgets and balance of payments. When you rely on third parties to fund you, a lot of which are international, and they lose confidence then the currency is going to suffer. It also seems that the market believes that the BoE wants sterling to weak. Wednesday we have the release of the minutes of the last B oE meeting. Given the surprises in Augusts BoE’s minutes, these months minutes are keenly awaited.

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
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GB

If you no longer wish to receive communication from us:
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Posted September 18th, 2009 by Charles Purdy

Smart Weekly Currency Note – 18th September 2009

 
  Smart Currency Exchange – Weekly Currency Rates  
Weekly Currency Interbank Exchange Rates 18th September 2009
 

Currency
Rate Last
Week
Rate This
Week
 
EURO
1.143
1.104
US$
1.669
1.625
CAN$
1.793
1.740
AUS$
1.929
1.871
NZD
2.358
2.290
AED
6.129
5.971

CHF

1.731
1.673

ZAR(Rand)

12.415
12.059

Charles’s Thoughts: Concerns regarding the health of the UK financial sector and the ‘unconventional’ monetary policy of the Bank of England re. quantitative easing continued to weigh heavily on sterling this week and its value against all major currencies suffered. Mervyn King, Governor of the Bank of England (BoE), is approaching pantomime villain status, as far as sterling investors are concerned, as his ability to talk-down the UK economy and unwillingness to offer support to sterling’s value continues to drain confidence and depreciate the pound. The ‘double dip’ recession that some economists have warned of seems to be materialising and the rally seen during the early summer months has proved to be something of a false dawn. A significant report from one of the major European banks published this week raised the possibility of the £/€ exchange rate approaching parity [£1=€1] towards the end of the year, which was where we were at the start of the year. One small positive to take away from the week might be that the Office of National Statistics reported the UK economy to have contracted less than expected in the months from April to June. Also economic data is indicating that we should be returning to growth in this current quarter.

The US$ has lost substantial ground against most currencies over the past few months as the global economy gets back in gear and investors seek riskier and higher-yielding assets. With the exception of sterling, this continued to be the case this week despite the economy showing evidence of returning to growth and the US equity markets continuing to perform well. Encouraging US retail sale figures were released on Tuesday and suggest that public confidence is on the up with a better than expected result but the US$ will likely continue to trade on the value of its reserve currency status rather by the health and progression of the US economy.

The euro continued to advance against the ailing pound and continues to surge against the US$, as it has consistently done since March of this year. Flattered more by the depreciation of other currencies rather than by any particularly positive news in the Eurozone, the euro is in the ascendancy. There seems to be little chance of seeing any increase in official interest rates from the European Central Bank but with few other central banks looking likely to raise rates either and the European equity market rising steadily the euro is likely to maintain its ascendancy for quite a while.

There seems to be no limit to how far the high-yield/commodity backed currencies will go as they continue their strong run. We are seeing multi-year highs from the South-African Rand, Australian, New Zealand and Canadian dollars against sterling with few signs of this trend reversing.

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!

Posted September 18th, 2009 by Charles Purdy

Smart Daily Currency Note – 18th September 2009

 

Smart Currency Exchange – Daily Currency Rates

 

 
Daily Inter Bank Currency Exchange Rates 18th September 2009
 

Currency

Rate

EURO

1.111

US$

1.634

CHF

1.685

CAN$

1.747

AUS$

1.881

Comments: Sterling continues to slip away. Bad news in Asia overnight where the third largest Japanese consumer lender has stopped paying creditors has raised investors risk aversion. This is always bad news for sterling. So sterling is under the cosh and will continue to be so until the government addresses the most significant problem which means having a clear plan of action to reduce the government debt and this must include a cogent plan to cut public expenditure.

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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To update your contact information:
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Posted September 17th, 2009 by Charles Purdy

Smart Daily Currency Note – 17th September 2009

 

Smart Currency Exchange – Daily Currency Rates

 

 
Daily Inter Bank Currency Exchange Rates 17th September 2009
 

Currency

Rate

EURO

1.121

US$

1.654

CHF

1.704

CAN$

1.757

AUS$

1.887

Comments: UK unemployment hit 2.47m its highest level since 1995. The belief is that it will hit 3m before we see it turnaround. One positive is the rate of unemployment has fallen and it has to be remembered unemployment is a lagging indicator and as such the economy will be growing well before we see unemployment fall. Sterling had a steady day compared to the previous day which saw sterling lose ground following the comments from the Governor of the Bank of England to the House of Commons. It was the thought of quantitative easing by the back door by reducing rates on banks deposits held by the BoE that worried the market. I suppose we will get further light shed on the BoE’s thoughts when the minutes of their last meeting are released.

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

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