Thursday, March 12, 2009

Smart Daily Currency Note - 12th March 2009

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

Currency

Rate

EURO

1.076

US$

1.375

CHF

1.590

CAN$

1.774

AUS$

2.137

Comments: Sterling’s difficult week continued on Wednesday with the release of marginally worse-than-expected trade balance data as well as the continuing poor sentiment in the UK banking sector. Sterling fell to a six week low against the euro but closed fractionally higher against the US$ from the previous day close thanks to renewed risk appetite in the markets. The Bank of England have now initiated their quantitive easing measures and despite the initial fears of pumping new money into the economy the market reaction was somewhat muted. The UK and those ultimately responsible for safeguarding the economy have now entered uncharted territory and only time will tell if this unusual measure will help bring any resolution to the problem. Short term doesn’t seem to be much upside for sterling.

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).