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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
02/07/2012 Foreign Currency Exchange
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Euro nears six-week high |
Australian dollar moves sharply higher after the Reserve Bank of Australia surprises the market by leaving its main rate at 4.25 per cent
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02/07/2012 Foreign Currency Exchange
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Forex bulls look to US neighbours for profit |
Traders are buying the Mexican peso and Canadian dollar against the euro with the countries best-placed to gain from the a growing US economy
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02/07/2012 Foreign Currency Exchange
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Japan confirms stealth intervention to limit yen |
Tokyo sold Y1.02tn without warning during the first four days of November to limit the currency’s rise against the dollar
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02/07/2012 Foreign Currency Exchange
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Avoiding EM economies is the biggest gamble of all |
The most likely path for unwinding global imbalances is through appreciation of emerging market currencies, writes Jerome Booth
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02/07/2012 Foreign Currency Exchange
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Money, like hat-wearing, depends on convention, not laws |
Scottish banknotes are widely accepted in London because because M&S and cabbies know what they are and treat them as cheques, writes John Kay
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02/07/2012 Foreign Currency Exchange
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China gold imports from HK surged in 2011 |
China’s gold imports from Hong Kong more than trebled in 2011 from the year before, hitting a record 428 tonnes as savers sought to hedge against inflation
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02/07/2012 Foreign Currency Exchange
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Strong currencies hurt commodity producers |
Viewed from the perspective of the Aussie dollar, rand, real or rouble, the markets are moving in a different direction
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02/07/2012 Foreign Currency Exchange
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Australia defies expectations and holds rates |
The RBA held the official cash rate at 4.25%, citing signs of improvement in the global economy, but kept monetary easing on the table
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02/06/2012 Foreign Currency Exchange
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Traders on alert for yen intervention |
Japan knows that should it act unilaterally to prevent further currency appreciation as it did last year, it would risk upsetting the US Treasury
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02/03/2012 Foreign Currency Exchange
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Stocks surge on strong US jobs data |
Equities and commodities benefit from robust US employment data with the FTSE All-World index at its best levels since start of August
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02/03/2012 Foreign Currency Exchange
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Dollar rises as jobs boost dents QE3 speculation |
The dollar strengthens after US data show a larger than expected rise in employment with investors taking this as a positive signal on the economy
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02/03/2012 Foreign Currency Exchange
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Riot halts Egypt bourse rally |
Stock exchange index drops 2.2 per cent following deadly riots, following 28 per cent rise on January.
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02/02/2012 Foreign Currency Exchange
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Aussie dollar hits five-month high |
Currency bounces after data shows Australia’s trade surplus rises to a record high in 2011 while Swiss franc loses some of its recent strength
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02/02/2012 Foreign Currency Exchange
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‘Too early’ to spot gaps in global regulation |
Increasing concern differences in the way G20 reforms on derivatives are being fleshed out by region could lead to ‘regulatory arbitrage’
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02/02/2012 Foreign Currency Exchange
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SNB head warns of political fallout after crisis |
Thomas Jordan, acting chairman, says bank has come under domestic political pressure over the potential cost of further interventions
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02/02/2012 Foreign Currency Exchange
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Jordan vow to continue SNB intervention |
Thomas Jordan, acting head of Swiss National Bank and thrust into the limelight after his boss’s swift departure, promises to continue radical policies
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02/02/2012 Foreign Currency Exchange
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China’s capital flight looks ready for take-off |
As sentiment toward the renminbi sours and the political outlook is more uncertain, Henny Sender predicts more money will leave the mainland
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02/02/2012 Foreign Currency Exchange
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Traders on alert for Swiss intervention |
Franc reaches its strongest level against the euro in almost five months, putting it near the level at which the SNB has previously taken action
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02/01/2012 Foreign Currency Exchange
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Production data boost stocks |
Risk assets are firmer on better than expected manufacturing data from China, Germany, the UK and US, but concerns about America resurface
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02/01/2012 Foreign Currency Exchange
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Euro higher as debt yields fall |
Figures showing better than expected manufacturing activity for much of the eurozone in January help add to single currency’s gains
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