Global Currency exchange rates news today
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.
Is this the time to Buy Pounds and Sell Euros?
Looking to sell, or buy, euros and pounds?
(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:
- 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.
- 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.
- 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.
Use a Currency Dealer for your Business Transfers Overseas
It’s likely that you’ve already used our Currency transfer services for your own personal use.
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.
Sunday’s Currency exchange rates
Here is a sample of the global currency exchange rates from this morning. If you would like to be kept informed of any particular currency exchange rate, just let us know in the form below this table. We trade commercial amounts and commercial rates.
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
GLOBAL CURRENCY EXCHANGE NETWORK - Base currency British Pound
| Currency | Code | GBP/1 Unit | Units/1 GBP |
| UAE. Dirhams | AED | 0.16 | 6.267 |
| Australian Dollar | AUD | 0.3786 | 2.6551 |
| Brazilian Real | BRL | 0.2586 | 3.944 |
| Canadian Dollar | CAD | 0.5008 | 2.0033 |
| Egyptian Pound | EGP | 0.1085 | 9.4631 |
| Euro | EUR | 0.787 | 1.2731 |
| Japanese Yen | JPY | 0.005835 | 171.784 |
| Polish Zloty | PLN | 0.2238 | 4.5643 |
| US Dollar | USD | 0.5875 | 1.7055 |
n.b these are just indication rates as of 8.30am on Sunday 12th October
- Get the best currency exchange rate available today… Just call our Head Office on +44 (0) 1480 458 400 if outside the UK, or 01480 458400 ( in the Uk) .
- We’ll quote you the best exchange rate for Euro, usd, gbp, aed and more.
Keep up-to-date, visit our foreign exchange dealing site and request to be kept informed about a particular currency.
Currency Exchange, Use a Specialist
Use a specialist business to make your currency exchange and save a great deal of money. Using a bank to transfer your money abroad can be a costly, as they tend to charge commission and a transfer charge, whereas most specialist currency exchange companies rarely make these charges.
In addition, a high street bank is likely to give you a worse rate of exchange than a currency broker can.
However, currency exchange brokers differ wildly, both in terms of service and value. Like all service providers, they offer services that are similar, but the differences appear subtle yet make a vast difference to your pocket.
Choose a currency broker that is interested in you, or your business. Most foreign exchange businesses will simply take your instructions to make the currency exchange, then transfer your money to the destination account. You need a currency broker who will take a bit more interest in your needs and will then advise on the best way to maximise the net amount from the exchange.
Here are some of the services that you could take advantage of by choosing a currency dealer carefully:
Regular payments:
If you have to make regular payments overseas such as a pension transfer, or maybe a mortgage payment, or payments to overseas suppliers, business partners, franchise operations for example, you could fix the exchange rate for as much as 2 years ahead. You could then set up the payments so that you can concentrate on other matters. The alternative is to use a dedicated currency exchange dealer, who can pick and choose when would be best for you to change your money. Neither of these services have a charge attached when you use fx-foreignexchange.
Stop loss currency exchange:
A “stop loss” contract lets you decide on a rate that you would be happy to make a currency exchange. We can arrange for the money to be exchanged as soon as a particular rate has been achieved. The money is bought automatically.
We can add to this service by placing your details with an individual dealer. That dealer will then contact you as soon as the agreed rate is achieved and you can then decide whether you wish to make the exchange. To take advantage of this particular service, you need to register with us first though as currency rates can change quickly and it takes a few minutes to register. Registration is free.
Fixed currency exchange rates:
For businesses, or individuals, that have to make a money transfer overseas sometime within a few months, it is possible to pay a small deposit and fix the rate of exchange, then pay the final balance nearer the time of the actual transfer.
This is great for cashflow and takes the stress out of situation because you will have already fixed the rate of exchange and have ruled out the possibility of losing a great deal of money if the rate becomes unfavourable. For example, just a few months ago, the rate between the US Dollar and the GB Pound was around 2.04 Dollars to 1 Pound. The rate today is about 1.78 Dollars to the Pound. This is fine if you have dollars to sell and pounds to buy, but imagine you wanted to buy 100,000 Pounds worth of Dollars. If you had fixed the rate in advance, you would have bought $204,000. However, at if you hadn´t fixed the rate and went to change the money today, you would have received $178,000.
The difference in the exchange rate would have resulted in a loss of $26,000 !
Our UK number is : 0044(0)1480 458400, or just go to CONTACT US.
For more information, please visit fx-foreignexchange.com
