Wednesday, January 07, 2009

Smart Daily Currency Note - 7th January 2009

 
Smart Currency Exchange - Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 7th January 2009

Currency

Rate

EURO

1.104

US$

1.502

CHF

1.658

CAN$

1.778

AUS$

2.084

Comments: European inflation data, released yesterday, added extra weight to the expectations that the European Central Bank (ECB) will be forced to lower interest rates in the coming months. J.C Trichet, the president of the ECB, had suggested over previous weeks that there would be a more tentative approach with monetary policy going forward but now met with the same prospect of the UK economy, in under-shooting inflation, the ECB may be forced to come in-line with other ailing economies whom have cut rates dramatically over the last year. This has been a welcome fillip for sterling's value against the euro and has also contributed to the euro's lowest levels against the US$ since mid December.

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 Lyric Square | 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).