Currency | Rate Last
Week | Rate This
Week | EURO | 1.516 | 1.517 | CY£ | 0.871 | 0.871 | US$ | 1.960 | 1.969 | CAN$ | 2.313 | 2.330 | AUS$ | 2.532 | 2.540 | NZD | 2.816 | 2.890 | CHF | 2.454 | 2.454 | ZAR(Rand) | 14.265 | 14.199 |
Charles's Thoughts: Sterling had a steady week against the Euro and the US$. UK economic news and data has been limited this week. Interest rates are still a key factor and rates here in the UK are not expected to come down in the short term. Steady as she goes. The future direction of the US$ continues to be uncertain. The Fed kept interest rates on hold this week. US economic data was okay but most outsiders are still wary. Countries such as China and Japan are expected to diversify their reserves into Euros. This may not mean selling the US$'s they already hold. More likely they will put a proportion of the ongoing surpluses into the Euro. This will make it more difficult for the US to fund its balance of payment deficit which will increase the pressure on the US$. The Euro still looks to be over sold. The major short term influence is that the interest rate for the Euro is a lot less than sterling's or the US$'s. This is likely to change as interest rates in Euro land are expected to go up in March. The Aus$ continues to weaken. It has pushed up close to 2.55. Will be interesting to see if it can push up towards 2.60. Why is Currency Management So Important? When did we last have a Euro over 1.50? Clients have been able to lock in significant gains against their original target exchange rates using forward contracts. Remember, exchange rates do not move in one direction. It hurts when you have to find extra funds. Smart Client Testimonial: "SMART were supportive and responsive during, what was for us, a very new transaction. With their help, buying a property in Spain proved to be an exciting and trouble free experience." Marlyn Tyzack, Surrey If you haven't opened a Smart account yet, call me on freephone 0808 153 0102 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 currency rate noted above. But note this is based on the inter bank rate so the actual cost will be slightly more.
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
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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
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