Wednesday, February 18, 2009

Smart Daily Currency Note - 18th February 2009

 
Smart Currency Exchange - Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 18th February 2009

Currency

Rate

EURO

1.128

US$

1.423

CHF

1.665

CAN$

1.796

AUS$

2.220

Comments: Sterling was boosted on Tuesday with the release of better-than-expected inflation data. The Bank of England is forecasting UK inflation to substantially undershoot the target rate of 2% and one of the aims of cutting UK interest rates aggressively over the last year has, been to avoid this happening. However, a significant factor in this inflation figure has been the depreciation of sterling which means that imports are more expensive and unless sterling continues to depreciate a one off. The euro weakened against the US$ and sterling given concerns over the high exposure levels of European banks to several eastern-European countries. The Polish Zloty, specifically, is currently at its lowest levels against sterling in almost 18 months and is at a 5-year low against the euro. This has apparently caused doubts regarding Poland's future adoption of the euro which was a condition of Poland's initial accession to the European Union in 2004.

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).