Currency | Rate Last
Week | Rate This
Week | EURO | 1.471 | 1.468 | CY£ | 0.850 | 0.848 | US$ | 1.959 | 1.966 | CAN$ | 2.262 | 2.262 | AUS$ | 2.428 | 2.405 | NZD | 2.740 | 2.728 | CHF | 2.389 | 2.405 | ZAR(Rand) | 14.178 | 14.008 |
Charles's Thoughts: Sterling lost a bit of ground as interest rates were kept on hold by the Bank of England this week. The market had raised the possibility of an increase in interest rates given that inflation is at the top end of the allowable range, the economy is performing well and house prices continue to rise. The probability of a 0.25% increase in UK interest rates in May is high. The US continues to be a very mixed bag at the moment. The employment figures that came out this week are at record highs. Apparently there were a large number of new employees in the housing industry. This is somewhat hard to believe given the fallout in the housing market. However, it now seems unlikely that the Fed will reduce US interest rates any time soon. No real change from last week as the Euro continues to be flavour of the month with Germany continuing to move forward strongly and interest rates are on the increase. One has to be aware that the downside is the Euro strengthening back to the 1.45 and less level. The Australian dollar strengthened during the week. There was a moment of weakness when the Australian Reserve Bank did not increase interest rates as expected. However, the market soon turned this around by assuming that the next time the Reserve Bank met then interest rates would be increased. Why is Currency Management So Important? The current market shows the importance of establishing a clear cost target for your property purchase. To do this you need to set a target exchange rate. There is no clear direction for exchange rates and as such you may find in a very short period of time the market moving against you. The effect of this is that your property will cost a lot more. By setting a realistic target and grabbing it when it is available you set your cost in stone and remove all stress. Smart Client Testimonial: "I ordered some currency to send to my father in Spain. I am a very busy person and found using Smart was so effective and efficient it took one more worry away from me. It suits my lifestyle!" S. Coyne, Norfolk If you haven't opened a Smart account yet, call me on freephone 0808 163 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. 
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
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