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Foreign Currency Exchange
Get Better Foreign Currency Exchange rates than your bank can offer
Foreign Currency Exchange rates available get an online quote today for your currency exchange.
CALL NOW: +44 (0) 1442 892 060 and Quote "EMYC"
1) The Foreign Currency Exchange Markets are far reaching, diverse and volatile.
2) This diversity spans everything from trading in Goods and Services right through to usage in loans and speculation.
3) For any Organisation whose operation involves buying and selling currency, a clear understanding of the processes and tools available and the impact currency movements can have is essential.
Exchange Currency UK
Over the past year, the Sterling-Euro exchange rate has dropped from 1.30 to 1.01, and then risen up to 1.20 again, with many experts predicting that the rate will recover to the 1.30 level by 2010, and as high as 1.40 in early 2011. These fluctuations are incredibly significant for anyone moving Euros back to Sterling in the near future.
For example, if you are trying to sell a house worth €200,000, the rate in summer 2008 would have achieved a Sterling return of around £153,000, whereas at Christmas that year, the return would have been roughly £195,000, a difference of over £40,000 on the exchange rate alone. In July 2009, this figure would achieve a return of approximately £174,000.
If you are waiting to sell your house overseas, you can fix your exchange rate today to guard against future fluctuations in the exchange rate, and guarantee your Sterling return at the current levels before the rate moves back against you. This can be done by securing a Forward Option Contract for up to 2 years. This allows you to fix your exchange rate at the current level for all or part of your currency requirement, with the option to complete on the contract any time in the next 2 years whenever you sell your house.
As with all Forward Contracts, where you are securing a rate of exchange before you actually need the funds, there is a small premium when compared to the day’s spot rate of exchange. However, the current interest rate means that this is a marginal factor when compared with the saving you will make upon completion of the contract if the exchange rate moves as experts predict over the coming months and years.
A deposit is required to arrange the contract, usually payable in Sterling or Euros. This is normally 10% of the contract value, which is returned to you in full on completion of the contract. If you decide not to sell over the two years, or it takes more than the two years to find a buyer, we can remove your position from the market simply by buying the same amount of Euros from our brokers to effectively cancel the initial contract.
By locking in the exchange rate with the Foremost Currency Group now, you can guarantee your Sterling return on the price of your house, and secure an excellent exchange rate at the current levels.
If you have any questions or would like to find out more about your options to maximise your buying power in the currency markets, contact Andrew Norton, a specialist in Forward Contracts at the Foremost Currency Group on +44 (0) 1442 892 060 and Quote "EMYC"
Currency news from across the globe
FT.com - Currency Markets News and Data
07/30/2010 Foreign Currency Exchange
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Weak growth weighs on dollar |
The dollar fell below Y86 for the first time in eight months on Friday as mounting concerns about the US economy led to broader weakness for the greenback
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07/29/2010 Foreign Currency Exchange
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Dollar lower as carry trade returns |
The Federal Reserve's cautious outlook for the world's biggest economy sends the dollar to a three-month low on a trade-weighted basis, as further fragile data adds to concern
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07/30/2010 Foreign Currency Exchange
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Surging exports boost Swedish economy |
The data promise to bolster the government's economic message ahead of the September 19 election, with recent polls showing the four-party Alliance edging ahead of the Red-Green opposition
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07/28/2010 Foreign Currency Exchange
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Aussie falls on surprise inflation news |
Price rises fell within the Reserve Bank of Australia's target range of 2-3 per cent for first time in three years, making rate rise unlikely, analysts say
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07/29/2010 Foreign Currency Exchange
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Surge in German consumer confidence |
Germans have become less worried about unemployment than at any time in the past two years, triggering a surge in consumer confidence in Europe's largest economy
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07/28/2010 Foreign Currency Exchange
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IMF staff and board split on renminbi |
The disagreement among the 24-member board on the currency weakens the pressure on China further to revalue the renminbi after it abandoned its peg to the dollar
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07/28/2010 Foreign Currency Exchange
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China revs up renminbi expansion |
The quest to turn the renminbi into an international reserve currency may take time, but Beijing is taking big steps in that direction.
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07/27/2010 Foreign Currency Exchange
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Sterling at a five-month high against the dollar |
Pound reaches a five-month high against the dollar
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07/27/2010 Foreign Currency Exchange
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Toyota to expand overseas production |
Toyota expects to begin building cars at a new assembly plant in India in December, and additional factories are planned for Brazil and China in 2012
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07/27/2010 Foreign Currency Exchange
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Dollar valuation |
Weak US growth bodes ill for the greenback in coming months, says Jens Nordvig, head of G10 currency strategy at Nomura
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07/27/2010 Foreign Currency Exchange
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Surge in eurozone mortgage lending |
Eurozone mortgage borrowing surged last month to the highest in almost two years in a sign that bank lending across the 16-country region may be flickering back to life
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07/26/2010 Foreign Currency Exchange
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Euro makes progress versus the dollar |
Results of reviews of the financial health of Europe's banks continue to lend support to the euro in spite of scepticism over the rigour of the process
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07/23/2010 Foreign Currency Exchange
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UK growth fastest for four years |
Britain's economy surged in the second quarter, expanding by 1.1 per cent – its fastest pace in four years
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07/23/2010 Foreign Currency Exchange
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Strong GDP figures lift sterling |
The pound surged after figures showed the UK economy grew at its fastest pace in four years in the second quarter
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07/23/2010 Foreign Currency Exchange
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German business sentiment at three-year high |
An upturn in German economic sentiment was confirmed by a surge in business confidence, which reached the highest level for three years in July, as employers reported a steady recovery in order books and cuts in the numbers on short-time working
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