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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
Financial Times - Currency Markets News and Data
05/21/2012 Foreign Currency Exchange
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Traders position for further falls in euro |
The euro falls as net short positions test record highs while analysts turn their attention to sterling as the eurozone crisis intensifies
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05/21/2012 Foreign Currency Exchange
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Japan stops paying for Iranian oil |
Country unable to pay for oil imports from Iran following an order from a US District Court and is searching for an alternative system of payment
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05/20/2012 Foreign Currency Exchange
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Economic Outlook: data set to deepen market woes |
Statistics published this week are unlikely to ease fears over the eurozone, particularly the release of several manufacturing surveys
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05/18/2012 Foreign Currency Exchange
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Global equities extend losing streak |
Growth assets are shunned as investors fret about the future of the eurozone and the global economy, sending yields on German Bunds lower
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05/18/2012 Foreign Currency Exchange
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Brazil stimulus fails to raise growth |
Contraction makes Brazil’s growth second slowest in Latin America and comes as Asia’s major emerging markets, China and India, are also decelerating
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05/18/2012 Foreign Currency Exchange
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Euro remains close to annual lows |
Single currency ceases sell-off but remains below $1.27, while Aussie and New Zealand dollar fall to fresh lows on global economic concerns
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05/18/2012 Foreign Currency Exchange
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South calls on Khartoum to renew talks |
Negotiator Pagan Amum said the North had not complied with a May 2 resolution giving the neighbours two weeks to resume talks
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05/17/2012 Foreign Currency Exchange
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A permanent precedent |
If Greece goes: An exit is likely to shatter faith in the eurozone’s integrity for ever, leaving the bloc with a choice between stronger union or disintegration. By Martin Wolf
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05/17/2012 Foreign Currency Exchange
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Barclays leads UK banking sector falls |
Banks lead FTSE 100 to a fourth straight decline, as risk aversion dragged the wider market to a new five-month low
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05/17/2012 Foreign Currency Exchange
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Battered rupee highlights India woes |
New Delhi appears unable to rectify the underlying economic vulnerabilities that have helped send the currency to new lows
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05/17/2012 Foreign Currency Exchange
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Euro lower as investors remain wary |
Single currency dips against dollar as markets await developments in Greece, while sterling weakens further after the BoE hints at further easing
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05/16/2012 Foreign Currency Exchange
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ECB bars access to four Greek banks |
Lenders will have to rely on ‘emergency liquidity assistance’ – a temporary facility provided by the Greek central bank but subject to ECB approval
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05/16/2012 Foreign Currency Exchange
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Euro starts to crack as investors eye exit |
Analysts believe that investor behaviour suggests that the buttresses that have supported the currency in recent months are weakening
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05/16/2012 Foreign Currency Exchange
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Multinationals act to mitigate euro risk |
Although most companies say the chances of a euro collapse are slim, many have been sweeping the single currency out of their accounts daily
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05/16/2012 Foreign Currency Exchange
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Rupee hits record low on India worries |
Sell-off comes despite repeated attempts by the country’s central bank to support the currency this week, as investors retreat from emerging markets
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05/16/2012 Foreign Currency Exchange
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Sterling drops to four-week low |
Pound falls after BoE cuts growth forecasts in its inflation report, while euro continues to lose value on Greece political concerns
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05/16/2012 Foreign Currency Exchange
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Asia dives as risk aversion takes hold |
FTSE Asia Pacific falls as eurozone fears weigh on markets, hitting financials and exporters and capping gains for Japanese lenders
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05/15/2012 Foreign Currency Exchange
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Brazil sugar production costs rise |
Even with abundance of sunshine, water and land suitable for cane production, the advantages of once vaunted low South American cost base is eroding
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05/15/2012 Foreign Currency Exchange
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Euro falls on Greek woes |
Single currency bounces off multi-month low, while sterling falls against the dollar ahead of the quarterly inflation report from the Bank of England
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05/15/2012 Foreign Currency Exchange
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Two-speed Australian economy creates unease |
Retail, tourism and manufacturing sectors are struggling with the strong dollar, while resource businesses are enjoying the fruits of the mining boom
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