Thursday, May 28, 2009

Smart Daily Currency Note - 28th May 2009

 
Smart Currency Exchange - Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 28th May 2009

Currency

Rate

EURO

1.147

US$

1.588

CHF

1.735

CAN$

1.781

AUS$

2.039

Comments: Yesterday, sterling, for a short period, rose above US$1.60/£1. This was on the back of improving sentiment in the UK service sector. Improving sentiment doesn't mean the recession is over, it simply means that the rate of contraction has slowed significantly. Also there was an increase in US consumer confidence which increased risk appetite which is detrimental to the US$. Sterling has risen by over 10% against the € and by over 15% against the US$ since its lows at the start of the year and now seems to take bad news in its stride which indicates that it has a solid base and limited downsize.

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.



Smart Currency Exchange | 1 Lyric Square | Hammersmith | London | W6 0NB | UK

© 2005-2009 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!



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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.

© 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).