Friday, August 07, 2009

Smart Daily Currency Note - 7th August 2009

 

Smart Currency Exchange - Daily Currency Rates

 

  
Daily Inter Bank Currency Exchange Rates 7th August 2009

Currency

Rate

EURO

1.164

US$

1.673

CHF

1.782

CAN$

1.803

AUS$

1.995

Comments: So sterling went into fast reverse when it was announced that the Bank of England was going to pump another £50bn into their quantitative easing programme. Quite a surprise given the consensus was that they would do nothing and at worse they would pump an additional £25bn into the economy which would have taken them to the limit already agreed with the Government. So why have the BoE done this? They claim that the depth of the recession is worse than initially thought. I can believe this as I still think there is a high level of denial as to how bad this recession is. When we see headline figures from the banks showing how much money was made on their investment banking business it overshadows the bad news from the rest of the economy where people are in survival mode. So as I keep on saying to people sterling strengthening is not a one way bet. The International Monetary Fund puts purchasing power parity for sterling with the US$ at US$1.53, a good 14 cents below where we are now as I write.

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.



Free phone: 0808 163 0102
(Outside the UK +44 0207 898 0571)

email: Charles@SmartCurrencyExchange.com
web: http://www.SmartCurrencyExchange.com

To get a live Better-than-Bank exchange rate go to: http://www.smartCurrencyExchange.com/smartquotation.htm
or call Smart on 08081 630 102 or from overseas, please call +44 0207 898 0541.


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!



SCE/OGC

1 Lyric Square
London, London
W6 0NB
GB


If you no longer wish to receive communication from us:
Cancel

To update your contact information:
Update

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

Weekly Update on GBP, EUR, USD & Commodity-Backed Currencies

Smart Resources

Free Reports - Make sure to collect your copy!
For overseas property buyers: "Why Overseas Property Buyers Lose Money... and how YOU can avoid it" Get the report here!

For anyone relocating from the UK to another country: "How you could save £20,000 when relocating from the UK to any overseas location!" Get the report here!

Currency Quotation
Are you interested in a currency rate for euros, US dollars or any other currency? If so, please fill out our Smart quotation form.

Smart Articles (For Clients & Press)
Read recent articles published in a variety of publications or request information on our Smart Press page.


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).