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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

02/08/2010 Foreign Currency Exchange

Dollar benefits as haven from sterling

The pound suffered after weekend polls suggested that the next UK general election would result in a hung parliament, boding ill for the widening budget deficit

02/08/2010 Foreign Currency Exchange

Traders make $8bn bet against euro

Data from the Chicago Mercantile Exchange show net short positions against the single currency rising from 39,500 contracts to 43,700 contracts, equivalent to $7.6bn

02/08/2010 Foreign Currency Exchange

Short View: Sterling under pressure

The pound is caught in global cross-currents, but its future direction may be in the hands of its own central bank and of the UK's voters, writes John Authers

02/08/2010 Foreign Currency Exchange

Could the ECB cut rates?

Steve Barrow, at Standard Bank says the prospect of a eurozone rate cut is slowly returning to investors' radar screens.

02/05/2010 Foreign Currency Exchange

Investors dazed by week of turmoil

In different times, this weekend's G7 meeting would have been an event to follow, but the market's wild ride means investors are only keeping half an eye on it

02/05/2010 Foreign Currency Exchange

Debt troubles hit central Europe

Central European currencies softened and stock markets dropped as the region's financial community reacted to the troubles of the debt-laden economies of Greece, Portugal and Spain

02/05/2010 Foreign Currency Exchange

Germany's industry-led recovery falters

Industrial production tumbles 2.6 per cent in December, according to official statistics, providing further evidence that growth in Europe's largest economy slowed significantly in the final quarter of 2009

02/05/2010 Foreign Currency Exchange

Price pressures on UK manufacturers rise

The cost of British products leaving the factory gate climbs slightly more than expected in January, but not by as much as the cost of goods that manufacturers need to produce them

02/04/2010 Foreign Currency Exchange

Euro falls to eight-month low against dollar

The euro drops to its lowest level in more than eight months against the dollar as ongoing concerns over the fiscal problems of countries on the periphery of the eurozone undermined the currency

02/04/2010 Foreign Currency Exchange

Gilt markets unruffled as QE suspended

The Bank of England has held interest rates at record lows but says it will not extend its £200bn-plus asset buying programme

02/04/2010 Foreign Currency Exchange

Trichet seeks to reassure on public finances

The European Central Bank president moved to boost confidence in eurozone public finances while keeping up pressure on southern members to bring deficits under control

02/03/2010 Foreign Currency Exchange

Improved US jobs data help lift dollar

The smallest fall in private sector employment for nearly two years provided support for the currency

02/03/2010 Foreign Currency Exchange

EU puts Athens under closer scrutiny

Greece told to slash its wage bill, speed up pension reform and set aside 10% of expenditure to pull itself out of crisis

02/03/2010 Foreign Currency Exchange

Eurozone retail sales disappoint

Data show the lowest Christmas sales reading since 2005 as the downturn continues to have a negative impact on consumer spending

02/02/2010 Foreign Currency Exchange

Aussie dives on surprise hold in rates

The Australian dollar fell heavily on Tuesday after the country's central bank surprised markets by keeping interest rates on hold

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Exchange Currency UK