Thursday, December 04, 2008

Smart Daily Currency Note - 4th December 2008

 
Smart Currency Exchange - Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 4th December 2008

Currency

Rate

EURO

1.154

US$

1.455

CHF

1.772

CAN$

1.837

AUS$

2.260

Comments: Sterling continued its free-fall on the markets yesterday losing ground to most major currencies and is approaching new record lows against the euro and breeching a six and a half year low against the US$. Expectations ahead of today's cut in interest rates have now developed into hedging strategies and the value of the once ‘Great’ British Pound is taking a battering as a result. The European Central Bank will almost certainly look to cut interest rates today as well. However, when only a couple of months ago both central banks cut rates simultaneously and by the same value, sterling fell hardest and furthest losing significant ground to the euro. We are also awaiting today’s important European Gross Domestic Product data and only a catastrophic result could save the pound from falling 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.



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

© 2005-2008 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).