Tuesday, March 03, 2009

Smart Daily Currency Note - 3rd March 2009

 
Smart Currency Exchange - Daily Currency Rates for Overseas Property Buyers  
Free Daily Inter Bank Currency Exchange Rates 3rd March 2009

Currency

Rate

EURO

1.115

US$

1.410

CHF

1.654

CAN$

1.807

AUS$

2.192

Comments: Just as the UK markets opened on Monday, sterling started to slide and eventually closed the day substantially lower against most major currencies. Continuing concerns regarding the health of the global financial sector, in particular HSBC and the insurers AIG, resulted in large losses on the UK stock markets. This in turn lead to further investment in the US$ and a sell-off of riskier assets such as sterling. Speculation towards this weeks' Bank of England meeting on interest rates also weighed on sterling, with another cut of 0.5% the widely forecast outcome. In the week ahead, the European Central Bank will also meet on Thursday to give their decision on interest rates with important unemployment figures released in the US on Friday.

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).