Thursday, February 12, 2009

Smart Daily Currency Note - 12th February 2009

 
Smart Currency Exchange - Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 12th February 2009

Currency

Rate

EURO

1.109

US$

1.435

CHF

1.661

CAN$

1.780

AUS$

2.186

Comments: Sterling had a reasonably steady day yesterday after Tuesday's losses even though the UK economic news released wasn't good. Government figures for unemployment as well as the Bank of England's (BoE) quarterly inflation report made depressing reading. UK unemployment is now at its highest levels in almost ten years and has risen for the twelfth consecutive month. Comments from Mervin King, the governor of the BoE, which followed the inflation report stated that we were entering a deep recession and given UK interest rates were already so low then unconventional measures such as quantitive easing -in essence, printing more money- are likely to be used by the BoE over the coming months. Not a great situation generally and the only plus for sterling is that this bad news was generally as expected.

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

© 2005-2009 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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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).