Thursday, August 23, 2007

Smarts Daily Currency Note - 23rd August 2007

 
Smart Currency Exchange - Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 23rd August 2007

Currency

Rate

EURO

1.472

CY£

0.854

US$

1.992

CHF

2.410

CAN$

2.113

AUS$

2.446

Comments:  Sterling is still under pressure. The current uncertainty is based on the credit crunch that has resulted from the sub prime loan problems in the US. It appears that no one is quite sure where the bad debts finally lie. This seems strange and certainly difficult for the layman to understand but with the use of derivatives the bad debts were basically passed form A to B to ... an d as such the market is waiting to see who has suffered the loss. Hence the flight to safety in the form of US Treasury Bills, the Japanese yen and the Swiss franc.

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.



Smart Currency Exchange | 1 Hammersmith Grove | Hammersmith | London | W6 0NB | UK

© 2005-2007 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 tak en 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).