Friday, March 27, 2009

Smart Daily Currency Note - 27th March 2009

 
Smart Currency Exchange - Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 27th March 2009

Currency

Rate

EURO

1.064

US$

1.443

CHF

1.626

CAN$

1.775

AUS$

2.067

Comments: Sterling began to slide again on Thursday morning against the US$ and the euro following the release of UK retail sales figures for February, which came in substantially under expectations and showed further evidence of waning consumer demand. The UK is not a happy place as unemployment increases, wages and wealth falling and confidence at all time lows. US Gross Domestic Product (GDP) figures released were marginally better than expected but this had little influence on the US$'s value generally. Discussion of a proposed new 'reserve' currency, maintained by the International Monetary Fund (IMF), as a replacement for the US$ as a safe haven asset, has created a new focus for all investors everywhere. Though favoured mostly by the Chinese at present, could this phenomena be what brings a more realistic and accurate value to the seemingly invincible US$? The logistics are mind-boggling and is extremely unlikely to develop in time for use against the current crisis, but a po int of interest none-the-less.

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).