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Posted January 15th, 2010 by Charles Purdy

Currency Rates

EURO/GBP – 1.132
US$/GBP – 1.631
CHF/GBP – 1.672
CAN$/GBP – 1.675
AUS$/GBP – 1.759

Request a quotation now at: http://www.smartcurrencyexchange.com/quote.aspx

Comments: A bit of strength from sterling more on the back of bad news from elsewhere rather than anything positive from in the UK. The European Central Bank kept interests on hold which was as expected. They were also cautious on euro zone prospects and offered little hope of the ECB bailing out Greece. So the euro lost ground against most currencies. The Australian dollar benefitted from better than expected fall in Australian unemployment figures.

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.

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Posted January 14th, 2010 by Charles Purdy

Currency Rates

EURO/GBP – 1.121
US$/GBP – 1.628
CHF/GBP – 1.659
CAN$/GBP – 1.679
AUS$/GBP – 1.749
ZAR/GBP – 12.042
JPY/GBP – 149.66
HKD/GBP – 12.631

Comments: Sterling continues to benefit on the back of better economic news and some “positive” comments from a member of the Bank of England monetary committee. Firstly UK industrial production increased by 0.4% in November which was better than expected. Then we had a member of the Bank of England stating that United Kingdom interest rates should be raised sooner than expected and that their special liquidity programme may not be reduced for a while. The belief is that the United Kingdom came out of recession in the final quarter of 2009. We wait to see if the actual figures support this.

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.

Posted January 13th, 2010 by Charles Purdy

Currency Rates

EURO/GBP – 1.120
US$/GBP – 1.625
CHF/GBP – 1.655
CAN$/GBP – 1.681
AUS$/GBP – 1.754

Request a quotation now at: http://www.smartcurrencyexchange.com/quote.aspx

Comments: Sterling benefitted from two pieces of positive data. Firstly the trade deficit narrowed more than forecast and secondly the British Retail Consortium which conducted a survey on high street spending for December reported much stronger than expected expected sales both before and after Christmas. So perhaps we are beginning to see the end of the recession here in the UK. Elsewhere we saw commodity backed currencies have a pull back after China stated that it was raising banks reserve requirement which raised concerns that we may see a fall in their imports of commodities.

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.

Posted January 12th, 2010 by Charles Purdy

Currency Rates

EURO/GBP – 1.111
US$/GBP – 1.609
CHF/GBP – 1.641
CAN$/GBP – 1.665
AUS$/GBP – 1.739

Comments: Even though the Confederation of British Industry believes, following a survey of the UK economy for the final quarter of 2009, that the UK is on the brink of leaving recession sterling continues to trade in a narrow range against the euro and the United States dollar and slip lower against the commodity backed currencies. The United States dollar had a bad day yesterday against the euro following the worse than expected unemployment figures in the United States on Friday. And in December China became the worlds largest exporter which is probably more of a reflection on how far German exports have fallen.

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.

Posted January 8th, 2010 by Charles Purdy

Currency Rates

EURO/GBP 1.115
US$/GBP 1.596
CHF/GBP 1.650
CAN$/GBP 1.649
AUS$/GBP 1.743

Request a quotation now at: http://www.smartcurrencyexchange.com/quote.aspx

Comments: The Bank of England did nothing keeping interest rates on hold and the level of its quantitative easing package as was. This was much as expected and as such did nothing to support sterling. The greater influence continues to be political uncertainty which of course we will have for at least six months pending the outcome of the general election. We await todays US unemployment figures and the market very much hopes that at worst they come in as expected. We wait and see.

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.

Posted January 7th, 2010 by Charles Purdy

Currency Rate

EURO/GBP 1.109
US$/GBP 1.594
CHF/GBP 1.645
CAN$/GBP 1.644
AUS$/GBP 1.733

Request a quotation now at: http://www.smartcurrencyexchange.com/quote.aspx

Comments: Sterling had a good start to yesterday but was then undermined by political manoeuvrings by two former Labour cabinet ministers trying to unseat the Prime Minister by asking for a secret vote. All fairly pointless but just highlights the susceptibility of sterling to the upcoming election. Today we have the Bank of England meeting and tomorrow we have the US unemployment figures. So we could have a couple of days of sudden changes in sterlings fortunes.

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.

Posted January 6th, 2010 by Charles Purdy

Smart Daily Currency Note – 6th January 2010

 
Smart Currency Exchange – Daily Currency Rates  
Daily Inter Bank Currency Exchange Rates 6th January 2010
 

Currency

Rate

EURO

1.117

US$

1.604

CHF

1.657

CAN$

1.665

AUS$

1.754

Request a quotation now at: http://www.smartcurrencyexchange.com/quote.aspx

Comments:  With thoughts turning to the general election and the possibility of a hung parliament and the Prime Minster and Chancellor contradicting each other over how the surplus tax revenues from the bankers bonus tax will be spent, sterling had a difficult day yesterday. We also had international investors starting to say that they would avoid UK government bonds given the uncertainty over the election and the lack of a cogent plan to deal with UK government debt. And just for good measure UK construction activity contracted for the 22nd month in a row. We wait to see what the Bank of England announces tomorrow to see if they can add to sterling’s woes. The commodity backed currencies continue to enjoy a strong start to the year benefiting from surging 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 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

 

© 2005-2010 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! Smart Currency Exchange Ltd is authorised by the Financial Services Authority under the Payment Services Regulations 2009 (FRN 504509) for the provision of payment services.

 


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Posted January 5th, 2010 by Charles Purdy

Smart Daily Currency Note – 5th January 2010

 
Smart Currency Exchange – Daily Currency Rates  
Daily Inter Bank Currency Exchange Rates 5th January 2010
 

Currency

Rate

EURO

1.111

US$

1.603

CHF

1.650

CAN$

1.664

AUS$

1.753

Request a quotation now at: http://www.smartcurrencyexchange.com/quote.aspx

Comments:  A brand new year and the first few rays of sunshine with positive economic news seeming to be the order of the day. The UK had better than expected lending to UK buyers and businesses in the final quarter. In the US manufacturers did better than expected helped in particular by rising new orders and in euro land manufacturing activity increased for the third month in a row.

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

 

© 2005-2010 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! Smart Currency Exchange Ltd is authorised by the Financial Services Authority under the Payment Services Regulations 2009 (FRN 504509) for the provision of payment services.

 


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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To update your contact information:
Update

Posted January 1st, 2010 by Charles Purdy

Smart Weekly Currency Note – 1st January 2010

 
  Smart Currency Exchange – Weekly Currency Rates  
Weekly Currency Interbank Exchange Rates 1st January 2010
 

Currency
Rate Last
Week
Rate This
Week
 
EURO
1.126
1.127
US$
1.616
1.615
CAN$
1.723
1.690
AUS$
1.819
1.800
NZD
2.278
2.233
AED
5.930
5.931

CHF

1.685
1.672

ZAR(Rand)

12.223
11.922

Charles’s Thoughts:

At the start of the week, sterling performed poorly due to a rather gloomy outlook going into the New Year over concerns over the UK economy and rising public debt. However, UK economic data came in better than expected towards the end of the week as the Nationwide Building Society announced that the average house price has increased by 0.4% compared with November. This was more than analysts expected and as a result indicates that the UK may be starting to pull out of the longest recession on record, as this is the largest rise in house prices for 2 years. Whilst this certainly doesn’t spell the end to the UK’s troubles, it is a welcome piece of positive news that has been noticeably absent over the last few months. This news prompted a sterling rally against the US$ and the Euro as many analysts said what we have all been thinking for a while – that sterling is far too undervalued against those currencies. The next major event on the hori zon for sterling is the Bank of England meeting on the 7th January where all eyes will be glued on the policy report to see when the Bank is likely to scale back the programme of quantitative easing – any sign of this and we will see strengthening of the pound.

The US$ reached $1.623/£1 after sterling recovered from $1.583/£1 – the lowest price for 11 weeks. The low point for sterling was as a result of the feeling early in the week that the Fed will start to scale back the US bailout facility earlier than expected as unemployment unexpectedly fell in the USA. However, the movement against sterling was reversed by the positive UK house price data and many analysts stating that the US$ was overvalued against sterling.

The Euro reached €1.1277/£1 in trading on Thursday. This poor performance against sterling was as a result of data released that showed that loans to households and companies had fallen for a third straight year and clearly demonstrates the fragility still prevalent in the Eurozone recovery. Whilst Europe’s economy emerged from recession in the third quarter, this data shows that the banks are still reluctant to lend despite being pumped full of cash by the European Central Bank and suggests that a return to sustained growth and recovery may take longer than was first envisaged.

The Australian and New Zealand Dollar started the week positively as prices rose for the commodities that form the backbone of countries’ exports driven by surging demand from China. Over the last few months we have seen interest rate rises from the Reserve Bank of Australia as a result of this export led recovery. However, with Australian government emergency stimulus coming to an end and data released that the private lending market grew at its slowest level for 17 years, many analysts feel that the pace of recovery is cooling off and we are unlikely to see the rampant strengthening that we have seen continue into 2010.

 

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

 

© 2005-2010 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.

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