Tuesday, September 22, 2009

Smart Daily Currency Note - 22nd September 2009

 

Smart Currency Exchange - Daily Currency Rates

 

  
Daily Inter Bank Currency Exchange Rates 22nd September 2009
 

Currency

Rate

EURO

1.104

US$

1.628

CHF

1.674

CAN$

1.745

AUS$

1.866

Comments: Sterling staged a slight recovery yesterday. This was following a Bank of England report that seemed to show that the depreciation of sterling was long term. The initial effect was to see sterling hit short term lows against the euro as the market is very quick to sell sterling on any news which it perceives to be bad. I think we all probably accept that for sterling to strengthen there needs to be a major change in how the UK economy operates given the twin deficits of government budgets and balance of payments. When you rely on third parties to fund you, a lot of which are international, and they lose confidence then the currency is going to suffer. It also seems that the market believes that the BoE wants sterling to weak. Wednesday we have the release of the minutes of the last B oE meeting. Given the surprises in Augusts BoE's minutes, these months minutes are keenly awaited.

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.



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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).