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.

email: Charles@SmartCurrencyExchange.com free phone: 0808 163 0102 web: http://www.SmartCurrencyExchange.com

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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Smart Daily Currency Note - 6th May 2009

Smart Currency Exchange - Daily Currency Rates for Overseas Property Buyers

Free Daily Inter Bank Currency Exchange Rates 6th May 2009

Currency Rate EURO 1.129 US$ 1.503 CHF 1.705 CAN$ 1.769 AUS$ 2.031 Comments: A bit of strength from sterling against the euro as sterling benefited from a rising stock market. The markets are also awaiting the outcome of the stress tests on the US banks balance sheets and the meeting of the European Central Bank with the expectation of a 0.25% cut in euro interest rates, both of which are due to happen tomorrow. Higher interest rate currencies such as the Australian dollar also benefited from increased risk appetite and the Australian central bank keeping interest rates on hold as the Australian economy stabilises. 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.

email: Charles@SmartCurrencyExchange.com free phone: 0808 163 0102 web: http://www.SmartCurrencyExchange.com

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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Smart Daily Currency Note - 5th May 2009

Smart Currency Exchange - Daily Currency Rates for Overseas Property Buyers

Free Daily Inter Bank Currency Exchange Rates 5th May 2009

Currency Rate EURO 1.127 US$ 1.503 CHF 1.706 CAN$ 1.766 AUS$ 2.032 Comments: No trading here in the UK yesterday but we saw sterling gain value yesterday as greater risk appetite was the order of the day. We have a busy week with the US having the Fed Chairman's congressional testimony today, on Thursday the results of the US banks stress tests on their balance sheets and on Friday the US unemployment figures. In the euro zone we have the European Central Bank meeting on Thursday and the expectation is for a 0.25% cut in euro interest rates. We also expect to see some "extra" support in line with what has happened here and in the US as the ECB finally realises how desperate it has all become in a large part of the euro zone. So an interesting four day week lies ahead for 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.

email: Charles@SmartCurrencyExchange.com free phone: 0808 163 0102 web: http://www.SmartCurrencyExchange.com

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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Smart Weekly Currency Note - 1st May 2009

Smart Currency Exchange - Weekly Currency Rates for Overseas Property Buyers

Weekly Currency Interbank Exchange Rates 1st May 2009

Currency Rate Last Week Rate This Week EURO 1.107 1.122 US$ 1.471 1.488 CAN$ 1.781 1.767 AUS$ 2.039 2.041 NZD 2.571 2.615 AED 5.405 5.461 CHF 1.671 1.691 ZAR(Rand) 12.915 12.548 Charles's Thoughts: On a generally quiet week for economic data or developments the UK news headlines were instead dominated by events involving the potential swine-flu pandemic rather than the ongoing global recession. There have been some encouraging signs that sterling has now reached and returned from the bottom of its value on the currency markets. Prices have maintained recent improved levels despite a lack of supporting market data to support any substantial upturn in the economy other than the sustained increase in manufacturing over the last 3 months. The gains against the US$ is largely thanks to a general increase in risk appetite and an improved sentiment towards the global financial sector. Next week bares little to nothing more in terms of major economic data for sterling other than the Bank of England’s monthly decision on interest rates where the broad expectation will be for another hold at 0.5%. Major Euro-zone economic data was sparse this week and the figures which were released, such as German unemployment and inflation data, were much as expected. A positive week for European equities helped to increase confidence that perhaps the worst of the down-turn is behind Europe but this may well prove to be overly-optimistic. Next week we will see the European Central Bank’s (ECB) monthly decision on interest rates with a cut of 0.25 % on the cards. Persistent rumours of quantitive easing as a means to stimulate parts of the stalling Euro-zone economy have kept the euro under pressure recently so any mention of this in the accompanying statement with the decision on interest rates could prove to be damaging to the euro short/mid-term. The US$ suffered on the markets this week as a consequence of the increase in risk appetite and a poorer-than-expected result in Gross Domestic Product figures for the first quarter of 2009. News regarding the bankruptcy of the giant US car manufacturers Chrysler will certainly have contributed to the weekly losses for the US$. President Obama’s decision earlier in the year not to bail-out the chronically troubled car manufacturing industry in the US will now be re-visited as the honey-moon period of his term comes to an end and with it potentially the sense of hope and confidence that his arrival in office had initially brought. There were no major developments in the high-yield and/or commodity backed currencies. However sterling did reach multi-year lows against the South-African Rand and the Australian dollar this week mainly thanks to an increase in commodity demand worldwide. Why is Currency Management So Important? Using a bank could cost you £3-4,000 per £100,000 transferred. Buying at the "wrong" time could cost you many £'000's more as rates can move as much as 3% in a very short period of time. Then add in transfer costs that the banks charge for sending and receiving funds and you could be looking at additional costs of £10,000 per £100,000 transferred. By developing a currency strategy and by working with a specialist currency broker these losses could be minimised if not eliminated. Smart Client Testimonial: "Thank you for making our transactions go so smoothly. As promised, our account was opened within hours. Your traders were pleasant and efficient, and each transaction was very much at the exchange rate I expected...ie not a million miles away from the inter-bank rates and certainly much better than my high street bank could quote. All in all, an easy experience and we will have absolutely no hesitation in recommending your services to any of our friends buying property abroad." Ian Pritchard If you haven't opened a Smart account yet, call me on freephone 0808 163 0102 or fill out our online Account Form at: http://www.SmartCurrencyExchange.com/application.htm How much will a Property Cost? To estimate the cost of a property simply DIVIDE the price of the property by the appropriate rate noted above. But note this is based on the inter bank rate so the actual cost will be slightly more. Charles Purdy Smart Resources Currency Strategy Worksheet Need help creating a Currency Strategy? Download our Currency Strategy Worksheet: http://www.smartcurrencyexchange.com/downloads/CurrencyStrategyWorksheet.pdf Currency Report Have your read our 10-page Currency Report that outlines the top 3 mistakes that overseas buyers make when exchanging and transferring their money overseas? Get the report here: http://www.SmartCurrencyExchange.com/downloads/ThreeMistakes.pdf Currency Quotation Are you interested in a currency rate for Euros, US$'s, CYP, NZD, or any other currency, please fill out our Smart quotation form at: http://www.SmartCurrencyExchange.com/smartquotation.htm Smart Currency Exchange Limited

email: Charles@SmartCurrencyExchange.com free phone: 0808 163 0102 web: http://www.SmartCurrencyExchange.com

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 the interbank rates and valid at a moment in time. The interbank rate is the rate at which the banks deal with each other in the foreign exchange markets. 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 suggest 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 trouble!

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Smart Daily Currency Note - 1st May 2009

Smart Currency Exchange - Daily Currency Rates for Overseas Property Buyers

Free Daily Inter Bank Currency Exchange Rates 1st May 2009

Currency Rate EURO 1.114 US$ 1.482 CHF 1.683 CAN$ 1.763 AUS$ 2.028 Comments: A rather uneventful day for sterling on the markets meant prices held steady against most major currencies with marginal gains made against the euro as the day progressed. Euro-zone inflation figures and German unemployment data were as expected and so made little impact on the day. Risk appetite is apparently on the up with market sentiment improving and confidence in the financial sectors returning. This has caused a general re-assessment of the USD's value and increased speculation toward a steep downward trend for the second half of 2009. 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.

email: Charles@SmartCurrencyExchange.com free phone: 0808 163 0102 web: http://www.SmartCurrencyExchange.com

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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