How to Buy a Forward Currency Conract, and Save money
How to Buy a Forward Currency Contract.
If you have a need to fix a currency exchange rate today, for a payment date at some future point, then you are likely to need a Forward Currency Contract.
- You may have agreed to buy a property today, but the completion of the legal paperwork may be set for 2 month’s time
- You may be in business, and need to fix the price of ordered imports at today’s exchange rate. Especially, if you anticipate that the exchange rate may not be as much in your favour when you need to pay for the goods.
- You may work abroad and have a need to regularly transfer a sum of money, but you believe that the exchange rate is at it’s best today
As long as you believe that the exchange rate is good , and you have 10% of the full amount you want to buy, then a Forward Currency Contract could be the choice for you.
Here’s an example:
- You agree to buy a property for 200,000 Euros and you have your money currently in Pounds Sterling.
- You are planning to have a 100,000 euro mortgage, so you need to buy 100,000 euros with pounds.
- The exchange rate is at the best rate for selling pounds to buy euros for a while.
- In this example, the GBP:EUR exchange rate is 1.17 to 1, then the property is costing you £170,940.
If the exchange rate changes to 1.08 by the time that you need to change the money, then the price of the property effectively goes up by £14,245 to £185,185.
As you will be changing half of that amount, you will need to find an extra £7122 on the completion date.
To avoid this, all you have to do is:
- Agree to buy €100,000 today, at a rate of 1.17, but send your currency dealer just 10% as a deposit.
- Pay the balance on the day that the contract ends, which can be set for over a year’s time.
The downside? Well, of course, the exchange rate may go the other way. But, you will at least have the comfort of knowing that the price of your property purchase is fixed.
FAQ: Can I have the money earlier than planned?
Yes, because your currency can create the currency exchange as a “Time Option Forward Currency Contract”. Provided you send the money to the currency broker, they will change it and send it to wherever you ask at any date before the final day of the contract.
To discuss how your currency dealer can help you with a Forward Currency Contract, please speak to Zoe on 0044 (0)1480 458400. www.fx-foreignexchange.com
Buy and Sell Pounds at the Best exchange Rates Today
Buy and Sell foreign currency at the best rates available today.
The British Pound sterling rates today versus other currencies including AED Dirham of Dubai and Abu Dhabi, euros, USD, Canadian and Australian dollars together with Japanese Yen can be bought and sold through our global currency exchange network at the best currency exchange rates available today.
The exchange rates for currency, London pound sterling, GBP, for the morning of 24th November 2009 are shown below. For LIVE CURRENCY RATES use the button on the right and take advantage of the most efficient currency exchange service available.
| Currency | Code | GBP/1 Unit | Units/1 GBP |
| Utd. Arab Emir. Dirham | AED | 0.1644 | 6.0884 |
| Australian Dollar | AUD | 0.5561 | 1.7989 |
| Brazilian Real | BRL | 0.3499 | 2.8652 |
| Canadian Dollar | CAD | 0.5687 | 1.7593 |
| Swiss Franc | CHF | 0.5967 | 1.6764 |
| Egyptian Pound | EGP | 0.1115 | 9.1017 |
| Euro | EUR | 0.902 | 1.1089 |
| Hong Kong Dollar | HKD | 0.07788 | 12.8442 |
| Indian Rupee | INR | 0.01301 | 77.2778 |
| Japanese Yen | JPY | 0.006788 | 147.353 |
| New Zealand Dollar | NZD | 0.4406 | 2.271 |
| Polish Zloty | PLN | 0.2193 | 4.5722 |
| Russian Rouble | RUB | 0.02095 | 47.7622 |
| Swedish Krona | SEK | 0.08783 | 11.4018 |
| Thai Baht | THB | 0.01823 | 55.2284 |
| US Dollar | USD | 0.6035 | 1.6572 |
| East Caribbean Dollar | XCD | 0.226 | 4.4745 |
| South African Rand | ZAR | 0.08032 | 12.4798 |
Open a Free Currency Exchange account with us to make your Bank-to-Bank transfers much better value.
Call: 0044 1480 458 400 (International) or 01480 458 400 (if inside UK) for the best currency exchange rates.
Buy Sell exchange rates today
Buy and Sell foreign currency at the best rates available today.
The British Pound sterling rates today versus other currencies including AED Dirham of Dubai and Abu Dhabi, euros, USD, Canadian and Australian dollars together with Japanese Yen can be bought and sold through our global currency exchange network at the best currency exchange rates available today.
The exchange rates for currency, London pound sterling, GBP, for the morning of 9th November 2009 are shown below. For LIVE CURRENCY RATES use the button on the right and take advantage of the most efficient currency exchange service available.
| Currency | Code | GBP/1 Unit | Units/1 GBP |
| Utd. Arab Emir. Dirham | AED | 0.1639 | 6.1064 |
| Australian Dollar | AUD | 0.5537 | 1.8092 |
| Brazilian Real | BRL | 0.3511 | 2.8593 |
| Canadian Dollar | CAD | 0.5601 | 1.7882 |
| Swiss Franc | CHF | 0.5921 | 1.691 |
| Egyptian Pound | EGP | 0.1108 | 9.1394 |
| Euro | EUR | 0.8943 | 1.1195 |
| Hong Kong Dollar | HKD | 0.07768 | 12.8854 |
| Indian Rupee | INR | 0.01285 | 78.0221 |
| Japanese Yen | JPY | 0.006699 | 149.474 |
| New Zealand Dollar | NZD | 0.4376 | 2.2899 |
| Polish Zloty | PLN | 0.2109 | 4.7485 |
| Russian Rouble | RUB | 0.02074 | 48.2405 |
| Swedish Krona | SEK | 0.08649 | 11.5808 |
| Thai Baht | THB | 0.01832 | 56.295 |
| US Dollar | USD | 0.6019 | 1.6623 |
| East Caribbean Dollar | XCD | 0.2254 | 4.4883 |
| South African Rand | ZAR | 0.08041 | 12.6093 |
Open a Free Currency Exchange account with us to make your Bank-to-Bank transfers much better value.
Call: 0044 1480 458 400 (International) or 01480 458 400 (if inside UK) for the best currency exchange rates.
Buy & Sell Rates Today for Pound Sterling
Buy and Sell foreign currency at the best rates available today.
The British Pound sterling rates today versus other currencies including AED Dirham of Dubai and Abu Dhabi, euros, USD, Canadian and Australian dollars together with Japanese Yen can be bought and sold through our global currency exchange network at the best currency exchange rates available today.
The exchange rates for currency, London pound sterling, GBP, for the morning of 6th November 2009 are shown below. For LIVE CURRENCY RATES use the button on the right and take advantage of the most efficient currency exchange service available.
| Currency | Code | GBP/1 Unit | Units/1 GBP |
| Utd. Arab Emir. Dirham | AED | 0.1646 | 6.0803 |
| Australian Dollar | AUD | 0.5491 | 1.822 |
| Brazilian Real | BRL | 0.3513 | 2.8559 |
| Canadian Dollar | CAD | 0.5678 | 1.762 |
| Swiss Franc | CHF | 0.5944 | 1.6829 |
| Egyptian Pound | EGP | 0.1112 | 9.1035 |
| Euro | EUR | 0.8978 | 1.114 |
| Hong Kong Dollar | HKD | 0.07798 | 12.8263 |
| Indian Rupee | INR | 0.01285 | 77.9255 |
| Japanese Yen | JPY | 0.006678 | 149.78 |
| Polish Zloty | PLN | 0.2111 | 4.7481 |
| Russian Rouble | RUB | 0.02079 | 48.1433 |
| Swedish Krona | SEK | 0.08605 | 11.6377 |
| Thai Baht | THB | 0.01811 | 55.3884 |
| US Dollar | USD | 0.6043 | 1.655 |
| East Caribbean Dollar | XCD | 0.2333 | 4.336 |
| South African Rand | ZAR | 0.07917 | 12.6573 |
Open a Free Currency Exchange account with us to make your Bank-to-Bank transfers much better value.
Call: 0044 1480 458 400 (International) or 01480 458 400 (if inside UK) for the best currency exchange rates.
Buy and Sell Rates today for the Pound
Buy and Sell foreign currency at the best rates available today.
The British Pound sterling rates today versus other currencies including AED Dirham of Dubai and Abu Dhabi, euros, USD, Canadian and Australian dollars together with Japanese Yen can be bought and sold through our global currency exchange network at the best currency exchange rates available today.
The exchange rates for currency, London pound sterling, GBP, for the morning of 22nd October 2009 are shown below. For LIVE CURRENCY RATES use the button on the right and take advantage of the most efficient currency exchange service available.
| Currency | Code | GBP/1 Unit | Units/1 GBP |
| Utd. Arab Emir. Dirham | AED | 0.1651 | 6.0606 |
| Australian Dollar | AUD | 0.5606 | 1.7844 |
| Brazilian Real | BRL | 0.3479 | 2.884 |
| Canadian Dollar | CAD | 0.5783 | 1.7301 |
| Swiss Franc | CHF | 0.6 | 1.6672 |
| Egyptian Pound | EGP | 0.1116 | 9.0707 |
| Euro | EUR | 0.9065 | 1.1033 |
| Hong Kong Dollar | HKD | 0.07821 | 12.7892 |
| Indian Rupee | INR | 0.01305 | 76.874 |
| Japanese Yen | JPY | 0.006671 | 149.949 |
| Polish Zloty | PLN | 0.2181 | 4.596 |
| Russian Rouble | RUB | 0.02079 | 48.1296 |
| Swedish Krona | SEK | 0.08803 | 11.3735 |
| Thai Baht | THB | 0.01816 | 55.2485 |
| US Dollar | USD | 0.6061 | 1.6502 |
| East Caribbean Dollar | XCD | 0.2253 | 4.4885 |
| South African Rand | ZAR | 0.08213 | 12.2071 |
Open a Free Currency Exchange account with us to make your Bank-to-Bank transfers much better value.
Call: 0044 1480 458 400 (International) or 01480 458 400 (if inside UK) for the best currency exchange rates.
Pound Sterling price today Versus Major´s
Buy and Sell foreign currency at the best rates available today.
The British Pound sterling rates today versus other currencies including AED Dirham of Dubai and Abu Dhabi, euros, USD, Canadian and Australian dollars together with Japanese Yen can be bought and sold through our global currency exchange network at the best currency exchange rates available today.
The exchange rates for currency, London pound sterling, GBP, for the morning of 20th October 2009 are shown below. For LIVE CURRENCY RATES use the button on the right and take advantage of the most efficient currency exchange service available.
| Currency | Code | GBP/1 Unit | Units/1 GBP |
| Utd. Arab Emir. Dirham | AED | 0.1667 | 6.0012 |
| Australian Dollar | AUD | 0.5637 | 1.7747 |
| Brazilian Real | BRL | 0.3591 | 2.8005 |
| Canadian Dollar | CAD | 0.5914 | 1.6919 |
| Swiss Franc | CHF | 0.6026 | 1.66 |
| Egyptian Pound | EGP | 0.1126 | 8.9949 |
| Euro | EUR | 0.9132 | 1.0953 |
| Hong Kong Dollar | HKD | 0.07901 | 12.66 |
| Indian Rupee | INR | 0.01326 | 76.0037 |
| Japanese Yen | JPY | 0.006745 | 148.306 |
| New Zealand Dollar | NZD | 0.4571 | 2.189 |
| Polish Zloty | PLN | 0.2185 | 4.5881 |
| Russian Rouble | RUB | 0.02089 | 47.9016 |
| Swedish Krona | SEK | 0.08815 | 11.359 |
| Thai Baht | THB | 0.0184 | 54.7639 |
| US Dollar | USD | 0.6123 | 1.6334 |
| East Caribbean Dollar | XCD | 0.2276 | 4.443 |
| South African Rand | ZAR | 0.08352 | 12.0314 |
Open a Free Currency Exchange account with us to make your Bank-to-Bank transfers much better value.
Call: 0044 1480 458 400 (International) or 01480 458 400 (if inside UK) for the best currency exchange rates.
