Thursday, October 22, 2009

Smart Daily Currency Note - 22nd October 2009

 

Smart Currency Exchange - Daily Currency Rates

 

  
Daily Inter Bank Currency Exchange Rates 22nd October 2009
 

Currency

Rate

EURO

1.108

US$

1.658

CHF

1.673

CAN$

1.742

AUS$

1.800

Comments: Sterling had a good day yesterday following the release of the minutes from the last meeting of the Bank of England's monetary policy meeting. No mention of increasing their quantitative easing programme which was welcomed by the market so sterling strengthened across the board. The US$ continues to lose ground hitting a 14 month low against a basket of currencies and at one stage pushing through US$1.50/€1. Market commentary is beginning to highlight the risk of US$ weakness derailing the recovery as many countries exports continue to increase in price. And the problem for these countries is that they may also need to start increasing interest rates before the US which would more than likely strengthen their currency and thereby exacerbate the problem further.

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).