US Dollar may have just started to turn
This is a quick notice to let you know that the US Dollar has just started to turn in value against other major currencies. Time for action, if you are looking to buy Dollars at some point soon.
If you have USD, this could be the time to sell dollars and buy into GBP, Pounds Sterling, or Euros.
GBP: USD. In May 2010, the USD was worth $1.43 to £1. It was trading this morning a £1.5970 to £1.
However, the Dollar has started strengthen. It has gained about 2 cents in a day. Good time to buy dollars? Likely!
Here is a chart showing the recent performance of the Pound against the dollar.
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EUR:USD. In december 2009 you could buy €1.50 for every $1. during 2010, the EUR strenghened against the Dollar to around €1.21 to every $1. Recently, the dollar has strenghened against the euro to around €1.32 to $1.
Today, it looks like the dollar is strengthening after a sustained period of losses. Here is a chart demonstrating the recent downturn in value of the dollar against the euro. What has happened today, is an about-turn, and the dollar is strenghening.
The main message?
- If you have a large amount of Dollars… do something! If you want to buy your currency ahead of time, you can. With just a 10% deposit, you can fix the usd rate now, and pay the balance at a fixed point in future but keeping the current rate.
- If you want to buy, or sell, Dollars, talk to one of our currency dealers and they will set a rate at which they will contact you so that you can buy your Dollars at the best price possible.
The easiest way to look at this is; if you need to change your money at some point and you need to achieve a certain amount, then you have these options:
- Exchange all of your Dollars at today’s rate. This is called a SPOT Contract. It ensures that you fix the rate today and you get your money transferred, to where it needs to be, in good time.
- Exchange some of your Dollars and risk the exchange rates going in your favour by the time you need to have the rest of the money changed. This is HEDGING in its simplest form. It does mean you can sleep at night, safe in the knowledge that you’ve made sure you don’t lose too much if the rates don’t go your way.
- Exchange your Dollars, at today’s exchange rate, with just 10% deposit. Then pay the balance when you need the money in the future. This is called a FORWARD Contract. This is the way that most of my clients are now exchanging their money. By paying just a 10% deposit, our clients can relax, safe in the knowledge that they have the right amount of money for their property purchase.
Of course, this doesn’t just apply to Dollars. It applies to any tradeable currencies.
If you have any questions on exchanging your currency, please call 0044 (0)1480 474517 or email me here
Aussie Dollar drops dramatically
A quick alert bulletin on the Australian Dollar
One of the major currencies saw substantial movement yesterday and you may wish to take advantage of this.
The Aussie dollar has had a rough ride on the currency markets for around a month. But the AUD dipped substantially yesterday against the US Dollar, Pound and the Euro.
Now could be a good time make your move as this slide has taken a very dramatic turn.
Yesterday:
- The Aussie dollar lost around 2 cents against the US Dollar.
- The Euro gained around 4.5 cents.
- The Pound gained around 4.4 cents
Just a month ago, the Aussie dollar was at 0.92 against the USD. It’s dipped today to 0.8356.
If you’d like to discuss how we can help you to buy, or sell Australian Dollars, please get back in touch soon. If you don’t have the full amount to trade now, but would like to buy straight away, we can do this by using a 10% deposit.
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Latest Currency Rates update
pm, May 11th 2010. Latest Currency exchange rates movements.
With the result of the British Leadership election still undecided, Germany’s Chancellor Merkel’s unwillingness to provide further “bailout” funds for the weaker EU states and better-than-predicted US non-farm payrioll news, it seems that we are in for turbulent times in the currency market.
In the UK, the markets haven’t liked the uncertainty surrounding the continuing debate on who will take over as the leading political party.
GBP to USD: The latest news from the USA suggests that they now have a robust economic performance, relative to the UK and Europe. This has led to the Pound sliding against the Dollar. It wasn’t so long ago, that we saw $1.63 to every £1. We are now seeing around 1.47.
EUR to USD: The Euro has taken a battering from the US Dollar. It was only towards the end of last year when you could get a rate of 1.50. It’s now heading down, very close to 1.25. Predictions are that the markets still don’t like the overall weakness of the economies in the Eurozone and this rate may drop further over the next few days.
GBP to EUR: The costly and hastily “cobbled together” aid package for Eurozone economies hasn’t convinced the markets, and the Pound has strengthened slightly against the euro. If economists are to be believed, we may see the Pound strengthening even more, once the political leadership has been decided.
AED to AUD: The AUD has been riding a high against the UAE Dirham. In the last year, we have seen the aussie dollar rise from around 0.3005 aud right up to around 0.3037. That’s around 10% in a year! Is this the time to consider selling Australian Dollars and buying UAE Dirhams? Maybe buy forward with just 10% deposit though us?
With currency rates fluctuating as much as they are at the moment, now may be a good time to buy your currency ahead of time buy using our “forward currency contract” mechanism. This only requires a 10% deposit initially from you.
If you would like to discuss any aspect of currency conversion with one of our experienced currency dealers, please contact us here and we will get back to you.
Introduce Your Clients to Us
The benefits are numerous. If you are in a business where your clients have a need to buy foreign currency, then we are the right partner for you.
Our currency exchange business is well established, it trades over 350 Million GB Pounds a year for clients, it caters for everything from cruise ship payroll’s worldwide to the smallest house depostit money transfer.
We take care of clients for foreign exchange introducers who do everything from car imports, vegetable and fruit imports for supermarkets, to worldwide International real estate agents.
All of these businesses have placed their trust in in to care for their clients…
But, there is a financial benefit for the affiliate……
BENEFITS TO BEING AN AFFILATE INTRODUCER:
You can keep track of clients’ transactions, so you can help them. Clients will secure their currency
with us and as a result you will know in advance that everything is progressing smoothly.
We will provide you, with a banking receipt. Proof that their funds have been sent.
One point of contact for you and your clients.
We will rebate 50% of the brokerage generated on a transaction back to yourself which can be paid monthly or quarterly to any account you furnish us with.
If you are an estate agent, inmobiliaria or Immobilien, you can choose to advertise any of your properties on our new property website, completely free of charge.
More than that, you can have your property listings placed for free on 2 worldwide, international, property portals as well as having a free web site provided by our web partner, 1strealestatehosting.net who are specialists in providing real estate hosting.
Globalprops.com and is available to view at the moment. We are currently uploading all the properties of our existing international property associates.
If you are a trader of any other type, talk to us about a free web site, as we have programmes in place for 5 more business areas.
BENEFITS TO YOUR CLIENTS:
Essentially, our business aim is to provide a secure, reliable, friendly approach to currency exchange.
In addition, we aim to provide the best value, with the best exchange rates, the cheapest methods of money transfer,and an efficient reporting process for your clients.
Your clients will be guaranteed the same account manager who will take sole responsibility from
the start to the very end, building a rapport to ensure that your clients funds are sent to the required
destination in their timescale.
Opening a trading account with fx-foreignexchange is simple. Once an account has been approved your clients can benefit from the following:
- Free account opening with no obligation (Via Website / Fax or Post)
- No fees or commissions to exchange currency
- The ability to secure guaranteed commercial rates of exchange for now and up to 2 years in the future
- Proof of telegraphic transfer of funds in the form of a banking receipt
- Fully Compliant with H M Customs & Excise
- Specialists in Foreign Currency Transactions
- A Stress Free, Personal Service
The facility to set up regular overseas money transfers (such as Mortgage payments or overseas Pension transfers) with our Overseas Regular Payment Plan.
