Tuesday, April 03, 2007

Smarts Daily Currency Note - 3rd April 2007

Smart Currency Exchange - Daily Currency Rates for Overseas Property Buyers
Free Daily Inter Bank Currency Exchange Rates3rd April 2007

Currency

Rate

EURO

1.480

CY£

0.855

US$

1.979

CHF

2.409

CAN$

2.287

AUS$

2.433

Comments: Sterling has gained a bit of ground on the back of a "possible" increase in UK interest rates this Thursday by 0.25%. This is when the Bank of England meets. There has been a lot of talk in the press about inflation being at the top end of the allowable range and that there continues to be upward pressure on prices. This may lead the BOE increasing interest rates now rather than wait until May. However, it is important to remember that Euro land is increasing interest rates and more than one increase of 0.25% is expected. The US is still suffering from the fall out from weakening house prices but again inflationary pressures mean that reduced US interest rates are unlikely in the short term. So short term there may be some upside for sterling but it is never a one way bet.

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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