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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

FT.com - Currency Markets News and Data

FT.com - Currency Markets News and Data


03/12/2010 Foreign Currency Exchange
Greek debt crisis boosts single currency
The yen was in focus this week due to speculation that the Bank of Japan would take steps next week to ease monetary policy even further

03/12/2010 Foreign Currency Exchange
Hatoyama says yen is too strong
The prime minister has told the Japanese parliament that the yen is too strong given the state of the country's economic recovery

03/11/2010 Foreign Currency Exchange
Strong growth outlook lifts Swiss franc
The Swiss franc rose to its highest level for a year against the euro as the central bank revised its growth forecast for the economy to 1.5 per cent

03/12/2010 Foreign Currency Exchange
Eurozone industrial production speeds ahead
Industrial production in the eurozone grows at its fastest level for over 20 years in January, amid signs of a far more sustained recovery than had been seen previously

03/11/2010 Foreign Currency Exchange
Beijing's light touch policies under strain
A raft of mixed economic signals has raised the pressure for more blunt interventions in the wake of the financial crisis

03/11/2010 Foreign Currency Exchange
Japan confirms strength of cyclical recovery
Japan's economy grew less than initially estimated in the fourth quarter of 2009 but the revised gross domestic product data unveiled were still cause for guarded optimism, said the government

03/11/2010 Foreign Currency Exchange
No need to fear renminbi strength
Markets are overestimating the potential impact of an appreciation of the Chinese renminbi against the US dollar on other currencies, says Antje Praefcke

03/11/2010 Foreign Currency Exchange
China data spur talk of further tightening
Pressure on Beijing to begin raising interest rates and to allow the renminbi to appreciate against the US dollar is set to mount as inflation jumped 2.7 per cent last month from a year before

03/11/2010 Foreign Currency Exchange
S Korea cites eurozone woes for rates decision
South Korea's central bank held interest rates steady at a record low of 2 per cent for the 13th consecutive month, citing uncertainties caused by Europe's sovereign debt problems

03/10/2010 Foreign Currency Exchange
Weak output puts pressure on sterling
Sterling comes under renewed pressure after disappointing production data adds to lingering concerns over the UK's economic recovery

03/10/2010 Foreign Currency Exchange
Traders bet on rise in Swiss franc
A possible change in policy by the Swiss central bank points to currency's appreciation, says Peter Garnham

03/10/2010 Foreign Currency Exchange
Turkey's IMF financing talks end
Turkey's two-year saga of on-off negotiations with the International Monetary Fund ended as prime minister says country can "stand on its own feet"

03/09/2010 Foreign Currency Exchange
Disappointing data weigh on sterling
Sterling lost ground on Tuesday as disappointing economic data and renewed concern over the UK's banking sector and fiscal health weighed on the pound

03/09/2010 Foreign Currency Exchange
Beijing still keen to buy US bonds
China's investments in US Treasury bonds are continuing 'every day' and should not be politicised, according to the head of China's foreign exchange administration, which manages $2,400bn in forex reserves

03/09/2010 Foreign Currency Exchange
Wide trade gap hits recovery hopes
The UK's trade deficit with the rest of the world reached its widest since August 2008 in January as exports dropped sharply, hitting hopes that the weak pound can deliver an export-driven recovery


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Exchange Currency UK
 

Exchange Currency UK