Thursday, May 07, 2009

Smart Daily Currency Note - 7th May 2009

 
Smart Currency Exchange - Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 7th May 2009

Currency

Rate

EURO

1.136

US$

1.509

CHF

1.718

CAN$

1.760

AUS$

2.005

Comments: Sterling continues to benefit as stock markets rise, most importantly financial stocks, and risk appetite increases. We have today the announcement of the US stress tests on their banks balance sheets and the meetings of the European Central Bank and the Bank of England. We wait to see if the leeks on the US bank stress tests are true with Citibank and Bank of America needing significant additional funds. Also we wait to se the announcements from the ECB and BoE with the former expected to cut interest rates by 0.25% and the latter to update us on quantitative easing. Tomorrow we have the US unemployment figures with the expectation that they show a slowdown in the rate on increase in unemployment. An interesting 24 to 48 hours where the main beneficiary could be sterling!

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).