Challenge us to beat your bank. We will save you money on:

• A better currency exchange rate
• No transfer charges
• No commission charges
• local bank receiving charges in certain countries.

On a £10,000 transfer, and exchange to euros, we could save you over £800.

• Global Currency Exchange Network, bring you daily currency exchange rates. For currency conversion, and money transfers, go to our website to create a free money transfer account
• GCEN have offices in Dubai for the UAE, Near London, Spain and Portugal

GLOBAL CURRENCY EXCHANGE Rates - aed,gbp,jpy,eur,cad,aud,usd

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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 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.

Set your price here, and we will get back to you.

Buying, or selling, euros?

EURO to USD / AED: The Euro slid again yesterday against the US Dollar, dropping to below $1.22. This had a great deal to do with Germany’s announcementthat they wish to ban “short selling” of shares and euro government bonds among its 10 most important financial institutions. This was the lowest figure against the dollar since April 2006.

Most people believe the euro has further to slide against the dollar and the aed of Dubai and Abu Dhabi. If you HAVE to sell euros soon, for dollars or aed, then you may want to talk to us about setting a rate, or just buy now!

POUND TO EURO: The pound continues to hold at over 1.15, with some good news coming from the Bank of England. It looks likely that the Bank will maintain interest rates at the current low level. British businesses can take advantage of the situation, with the lowest period of borrowing at this level for some considerable time. This, in turn, will help the economy to recover at a faster rate than Europe.

POUND to US DOLLAR: With some good news coming out of the UK economy, the Pound has slowed it’s decline, but sits at an uncomfortable $1.42. Most economists believe, Sterling will go lower against the USD.

With the currency rates altering as quickly as they are, we suggest you choose from the following:

1. If the rate suits you now, make that exchange. It may go a bit more in your favour, but it’s just as likely to go against you.
2. If the rate doesn’t suit you, contact us here, and let us know what rate you need. We will put you on our “Rate watch” list and contact you as soon as your rate is achieved.

Talk to us about placing just a 10% deposit down, and fixing your currency deal at the best exchange rates today. It could save you thousands.

Call: 0044 1480 458 400 (International) or 01480 458 400 (if inside UK) for the best currency exchange rates. If you prefer, contact us by email here

Is the euro weakening further? Stop the slide if you have to sell Euros by buying a forward contract with just a 10% deposit.

Yesterday was a fairly quiet day for currency rates, with the Euro consolidating a little after its rapid descent. Don’t expect this to be the end of the euro slde though. The markets show large numbers of speculators don’t have much faith in the Euro at present.

Euro: The new belt-tightening approach in the Eurozone will do nothing for confidence in the euro as the policy will ensure that economic growth is likely to remain extremely restricted for quite some time. This will ensure that the interest rates will remain low and will ensure that the ECB will have to tighten spending further.

GBP:Eur. The pound continues to maintain station comfortably above 1.15 euros and is expected to gain a little. This is more due to the weakness of the euro though. As the UK chancellor’s first budget draws nearer, it will be fascinating to see how jittery the market will become. If you’re holding out to change GBP into EUROs, don’t hold off too long. contact us here, and let us know what rate you need. We’ll let you know if it gets there.

GBP:USD. The Pound hasn’t performed so well against the dollar and continues to slide. As commented yesterday, currency buyers just want to buy Dollars.

AED: As the aed is pegged to the USD, this could be a great time to sell aed and buy euros, pounds or Australian dollars. The AUD is very weak against the AED and US Dollar at the moment.

Talk to us about placing just a 10% deposit down, and fixing your currency deal at the best exchange rates today. It could save you thousands.

Call: 0044 1480 458 400 (International) or 01480 458 400 (if inside UK) for the best currency exchange rates. If you prefer, contact us by email here

Open a Free Currency Exchange account with us to make your Bank-to-Bank transfers much better value. Sorry, we don’t handle cash in any way.

Trying to choose the best time to buy, or sell, aed, usd, euros , aud or pounds? Let us know what exchange rate you need and we will let you know when it reaches the rate. Use our Rate Watch on the right.

There seems to be no end to the current institutional need to buy US Dollars, and sell Euros and Pounds. This “herd mentality” seems to be growing, rather than abating, as everyone heads for the perceived safety of the USD and Gold. Is this a good time to sell Euros or Pounds in favour of US Dollars? Maybe. The current situation does seem very similar to Autumn 2008 where the USD was bought to the virtual exclusion of any other financial asset.

EUR: USD. The Euro has now dipped below the $1.25 level and seems to be headed towards $1.20. The market is clearly concerned about the Eurozone’s ability to cope with the austerity packages and bail-outs. Combine this with the perceived ability of the US to outperform Europe, despite its fiscal issues. email us to set a rate to sell your euros at.

GBP:USD. Pound sterling has today fallen to around $1.44. This would seem to be following the same pattern as the Euro against the USD. However, The Bank of England may be getting ready to back what they call a “very strong and powerful agreement” between the the new Conservative-Liberal government. Expect some decisive action from the new chancellor in the up-coming “emergency budget”.

GBP:EUR. It would seem that, if the markets are forced to choose between the EURO and the POUND, they prefer to invest in the pound. GBP:EUR is still above 1.15

Talk to us about placing just a 10% deposit down, and fixing your currency deal at the best exchange rates today. It could save you thousands.

Call: 0044 1480 458 400 (International) or 01480 458 400 (if inside UK) for the best currency exchange rates. If you prefer, contact us by email here

Open a Free Currency Exchange account with us to make your Bank-to-Bank transfers much better value. Sorry, we don’t handle cash in any way.

Friday 14th May, 2010. Global Currency Market Comment

Looking to buy or sell currency now? Use the currency converter on the right, and get the best exchange rates today.

Yesterday, was yet another turbulent day for both Sterling and the Euro. Both currencies lost ground against the US Dollar in particular. Now that the UK election result is agreed, all attention has turned on the uncertainty before the UK Chancellor’s emergency budget due within the first 50 days.

GBP: USD. The pound started off well enough at about $1.49, but sank to below $1.46 this morning. It would seem that the market currently prefers dollars, but that may change following the announcement in the US, that eight banks are facing investigation into the ratings of their mortgage products in the run-up to the financial crisis.

EUR:USD. It isn’t clear why the euro is struggling so much, given that the Eurozone has recently announced some reasonable economic data. It’s possible that the markets are becoming more anxious about the medium term prospects of theeconomic recovery in Europe. The Euro has dropped to close to $1.25. If the markets are concerned, expect this to go lower.

GBP:EUR. Early on in March, 2010, we saw the €1.10, now we’re regularly seeing €1.17 to €1.18. The last time we had rates like this, was between mid-june and early August 2009. After then, it dropped suddenly to €1.07, and we had many customers who had held off. They lost their opportunity.

With the currency rates altering as quickly as they are, we suggest you choose from the following:

1. If the rate suits you now, make that exchange. It may go a bit more in your favour, but it’s just as likely to go against you.
2. If the rate doesn’t suit you, contact us here, and let us know what rate you need. We will put you on our “Rate watch” list and contact you as soon as your rate is achieved.

Talk to us about placing just a 10% deposit down, and fixing your currency deal at the best exchange rates today. It could save you thousands.

Call: 0044 1480 458 400 (International) or 01480 458 400 (if inside UK) for the best currency exchange rates. If you prefer, contact us by email here

Open a Free Currency Exchange account with us to make your Bank-to-Bank transfers much better value. Sorry, we don’t handle cash in any way.

Thursday 13th May, 2010. Global Currency Exchange rates Market Comment

Yesterday, we saw a much improved day for the currency markets. There was a widespread recovery in share prices and the generally positive economic data did much to improve the Pound rate, particularly against the US Dollar and the Euro.

In the UK, the new Government has announced that it will cut public spending by £6bn in this fiscal year as an immediate step in a broader commitment to tackle the budget deficit. This was well received by the markets and gained the Bank of England’s support.

EUR: GBP. Today, we have seen the Euro gain a little against the pound, but most people believe that the Pound will continue to gain against the Euro. So Now could be a good time to call or email a currency dealer to discuss buying a forward currency contract if you have Euros to sell and pounds to buy.

AED: AUD. If you have AED, UAE Dirhams, and are looking to buy Australian Dollars, now could be a good time to buy. The aed has gained about 10% over the last year and seems to be peaking.

USD: EUR. The USD has moved considerably against the Euro to about 1.26 from a peak of 1.5 in just a matter of months. The value dropped to about 1.25, so we may have seen the bottom of the dip. If you have AED, or USD, and you want Euros, this could be the time to buy Euros.

Talk to us about placing just a 10% deposit down, and fixing your currency deal at the best exchange rates today. It could save you thousands.

Call: 0044 1480 458 400 (International) or 01480 458 400 (if inside UK) for the best currency exchange rates. If you prefer, contact us by email here

Open a Free Currency Exchange account with us to make your Bank-to-Bank transfers much better value. Sorry, we don’t handle cash in any way.

(comment added on 5th July, 2010) This is an old article I wrote in February, 2010. To buy, or sell euros and pounds today, please visit our Foreign Exchange provider here and discuss your foreign exchange requirements with a currency dealer.

Some of you may recall my article on the 27th of January.. “Is this a good time to buy euros with pounds?” Well, it transpires that it was. Now the situation has reversed.

Today, Feb 10th, 2020, The GBP, Pound, has dropped since then against the euro. We had a case, this week, where a customer may not have been able to complete on his house purchase as the exchange rate had dropped so much that there was a shortfall of a few thousand euros on completion day.

This could have been overcome if the client had bought a Forward contract at the better exchange rate that existed on the 27th of January.  If he had done this, he wouldn’t have been short of a few thousand euros on the property completion day.

So,…. Is it a good time to sell euros and buy pounds? Probably. No-one can say for sure, but it would appear that the pound is as weak as the euro, when compared to the US Dollar and the Yen. The eurozone is still dragging the Greek finance problem around and the Pound is still suffering from a wave of poor economic results. So, some would say that the Euro and the Pound have levelled off. Experience shows that this staus quo rarely remains for long.

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:

1. Exchange all of your Pounds for euros 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.
2. Exhange some of your Pounds for Euros 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.
3. Exchange your Pounds for Euros, 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 Pounds and Euros. It applies to any tradeable currencies and we can deal in smaller amounts of currency.

Contact me here, for some free advice on how to get the best currency exchange rates to suit your circumstances.

Maybe you bought, or sold, a property overseas, or you need to regularly transfer money to pay for bills abroad. Some of our clients just use us to occasionally transfer their wages.

However, few are aware that we have busy section to our business that deals entirely with business transfers.

Why use a currency broker, rather than your business bank, to make transfers overseas?

They are all the same reasons that you used us in the first place!

• We offer better exchange rates
• We transfer to most countries for FREE
• We are currency exchange professionals.

Currency exchange is all we do, so we are well positioned to aid your business. We don’t just save you money on costs. We help you to make money by aiding you to manage your business risk better.

How do we help you to manage your business risk when trading overseas?

Fluctuations in local currency can have an impact on your profit. If unfavourable changes in currency levels occur between your decision to commit to a contract, and when you have to pay for it, then your business will lose margin.

There’s a simple remedy. Buy a time option forward currency contract and fix the rates for a reasonable period. This could be for the duration between your tender acceptance and the moment when you may have to pay for goods or services. Your profit margin is then fixed and you can go about your business… what you do best.

We can also help by micro-managing the currency purchases that you make. We don’t charge for this service, it’s what we do all of the time for clients! We can then alert you when the rate has come close, or achieved, to what you desire.

Payroll services for staff overseas.

We have many business clients who now ask us to make the payroll transfers for staff overseas, each month. Some are happy to simply make the payment on a particular date each month, but most prefer us to keep an eye on the rate for them with a one-week window at the end of the month. We then contact our clients as soon as the rate seems to have peaked, so that they can take advantage of the best rates available. This isn’t something a bank offers.

In addition to Free currency transfers, we offer:

• Better exchange rates than the banks
• A dedicated currency dealer
• A Rate Watch service

If you are already using us for your currency exchange, consider how much we could help your business to retain profits in these difficult times.

Please contact your local currency dealer FX-Foreignexchange here to discuss our business services further.