Friday, March 13, 2009

Smart Daily Currency Note - 13th March 2009

 
Smart Currency Exchange - Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 13th March 2009

Currency

Rate

EURO

1.078

US$

1.396

CHF

1.655

CAN$

1.782

AUS$

2.125

Comments: Sterling kept within a stable trading range today and held it’s value against most major currencies thanks to a quiet day for significant economic data or developments domestically. By close sterling was practically unchanged against the US$ and fractionally lower against the euro. However, there were interesting developments in Switzerland which helped to highlight the distinct difficulties being experienced by other countries across Europe during the credit crunch. Having gained so much strength from the safe-haven asset demand, as has the US$, the Swiss National Bank took measures on Thursday to purchase vast amounts of foreign currency with the aim to devalue the Swiss Franc in order to stabilise the economy and combat the threat of deflation. It had initial success helping the Swiss Franc to lose 3% again the euro. Still very difficult to see any upside for sterling in the short term.

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).