Wednesday, October 21, 2009

Smart Daily Currency Note - 21st October 2009

 

Smart Currency Exchange - Daily Currency Rates

 

  
Daily Inter Bank Currency Exchange Rates 21st October 2009
 

Currency

Rate

EURO

1.099

US$

1.642

CHF

1.660

CAN$

1.723

AUS$

1.776

Comments: An interesting day yesterday. No major movements from sterling which continues to suffer against most currencies. However it is the weakness of the US$ that is beginning to worry policy makers throughout the world. Brazil introduced a 2% tax on foreign portfolio investments as the Brazilian real has advanced 36% against the US$ this year. The Bank of Canada stated that they thought the strength of the Canadian dollar was going to "more than fully offset" the recovery in economic activity. In France the French President has stated that US$1.5/€1 will be an "disaster" [we currently sit at US$1.485/€1]. What does this mean? It means that countries such as the USA and the UK are benefiting from their weak currencies at the expense of say Euro land which longer term must be of b enefit to the US$ and 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.



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© 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).