Wednesday, November 15, 2006

Smarts Daily Currency Note - 15th November 2006

Smart Currency Exchange - Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates15th November 2006

Currency

Rate

EURO

1.478

CY£

0.848

US$

1.895

CHF

2.357

CAN$

2.156

AUS$

2.479

Comments: Sterling suffered some weakness yesterday. The main reason for this was that UK consumer price index for October was less than the consensus forecast. This supports the view that UK interest rates will be kept on hold here in the UK at 5% for the medium term hence sterling suffered. However, sterling exchange rates against the Euro and US$ are still good when compared to earlier this year.

Note: All rates are mid market inter bank and indicative at the point of publication.

To get an initial estimate of the cost of a property simply DIVIDE the price of the property by the appropriate currency rate noted above.


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Disclaimer
Exchange rates can move very quickly. The above rates are valid at a moment in time. We have no crystal ball and we recommend that if an exchange rate works for your budget then don’t wait for an even better exchange rate - Murphy’s Law says the rate will go against you and cause you maximum pain! Suggestions should not be taken as advice or fact.

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