Market comment - time to sell Euros?
Tuesday 18th May, 2010, Global Currency Exchange market comment
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
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Currencies - Cross Rates
| AUD | EUR | GBP | USD | CHF | AED | |
|---|---|---|---|---|---|---|
| AUD | 1 | 0.7316 | 0.63085 | 0.98492 | 0.90433 | 3.62178 |
| EUR | 1.36687 | 1 | 0.86229 | 1.34626 | 1.23609 | 4.9505 |
| GBP | 1.58516 | 1.1597 | 1 | 1.56125 | 1.4335 | 5.74109 |
| USD | 1.01531 | 0.7428 | 0.64051 | 1 | 0.91817 | 3.67723 |
| CHF | 1.1058 | 0.809 | 0.69759 | 1.08912 | 1 | 4.00495 |
| AED | 0.27611 | 0.202 | 0.17418 | 0.27194 | 0.24969 | 1 |
| Other Currencies |
To view the exchange rates on the date that this post was published, view below.
We buy and sell many more currencies that the ones shown. To find out what the current exchange rates are for other currencies, just use our currency converter tool, or click “Other currencies” below the table. No commission and No transfer fees.
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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 1st December 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 |
0.165 |
6.0631 |
| Australian Dollar |
AUD |
0.5545 |
1.8043 |
| Brazilian Real |
BRL |
0.3476 |
2.8864 |
| Canadian Dollar |
CAD |
0.5735 |
1.7446 |
| Swiss Franc |
CHF |
0.6042 |
1.6556 |
| Egyptian Pound |
EGP |
0.1117 |
9.0836 |
| Euro |
EUR |
0.9109 |
1.0981 |
| Hong Kong Dollar |
HKD |
0.07821 |
12.7896 |
| Indian Rupee |
INR |
0.01305 |
76.9883 |
| Japanese Yen |
JPY |
0.007013 |
142.635 |
| New Zealand Dollar |
NZD |
0.4342 |
2.3044 |
| Polish Zloty |
PLN |
0.2197 |
4.5648 |
| Russian Rouble |
RUB |
0.02075 |
48.2176 |
| Swedish Krona |
SEK |
0.08708 |
11.5013 |
| Thai Baht |
THB |
0.0183 |
55.01 |
| US Dollar |
USD |
0.6061 |
1.6502 |
| East Caribbean Dollar |
XCD |
0.2405 |
4.2079 |
| South African Rand |
ZAR |
0.08209 |
12.2122 |
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.
