Currency Exchange - your options

Discussion in 'Overseas Property For Sale' started by Janoulaki, Nov 15, 2007.

  1. Janoulaki

    Janoulaki New Member

    Hi there,

    for those who keep posting a lot of questions about the currency xchange rates and possibility losing when the currency rate drops against your favour, please read the options you have with Currency exchange company.

    Option 1: Buy A Lump Sum of Currency Needed Now (or soon)
    If you’re buying a property overseas and need to make a one-off lump sum payment such as a
    deposit or a full-payment, this is a good option to consider.
    In the financial world, they call this type of transaction a ‘Spot’ contract. Once the best currency
    rate is quoted by a representative and agreed by yourself, the full purchase amount
    needs to be paid in full within two working days.

    Option 2: Order Currency for a Later Date at a Fixed Rate
    You may want to consider this option if you:
    - Have staged payments and you want to ensure against an unexpected increase in the
    price of your currency. Imagine having a budget set at £25,000 for a staged payment and
    due to a change in currency exchange rates, the cost goes up to £30,000…
    This could
    happen more often than people think and represents a £5,000 LOSS for something that
    could have been prevented.
    The markets can be quite volatile and pose a real threat to the price of an overseas
    property. If there is an indication that a future rate may be higher, it’s sometimes better to
    fix the rate now. This will allow you to formally fix your budget and know that you’re
    avoiding a potential increase in the cost of purchase.
    - If you’re interested in transferring a lump sum in the future (perhaps the final full
    payment), but want the piece-of-mind that the currency won’t fluctuate and cause you an
    unforeseen increase in the purchasing cost.
    This type of transaction is called a ‘Forward.’ It allows you to order currency at an agreed fixed
    rate for up to 18 months in advance. You have the option to fix an exact rate at an exact date OR
    you can request a fixed rate between say a 3-month time window.

    Option 3: Order Currency when it hits a Rate that you Designate
    This option is for people who don’t necessarily need to move money over at any particular time.
    Perhaps you know that you’re going to need money sent to an overseas location at some point in
    the next year…
    Once the money market hits the pre-determined beneficial rate, we
    will aim to buy the currency for you.

    for further info get you free currency reporto at

    Smart Currency Exchange : Smart Free Report

    or contact me directly and I put you in touch with our sister company

    ;)

    good luck and no losses when trading
     
  2. Interesting- is this service run by Kim Brown?
     
  3. Janoulaki

    Janoulaki New Member

    Interesting

    it is her company

    as well as

    Overseas Guides
     
  4. Currency

    Is this service run by Kim Brown?

    Financial Freedom Gurus
     
  5. Janoulaki

    Janoulaki New Member

    Looking forward to talk to you
     
  6. AnotherPropertyGuy

    AnotherPropertyGuy New Member

    What spread?

    What rate would you quote for a straightforward trasnfer of 400,000 NZD from New Zealand to a UK bank account?

    I'd be interested to receive a quote. I'd prefer to have it in a fixed amount. For example, if the mid rate is 2.650NZD to £1 and your commission was 0.010NZD, then the rate I would get is 2.660NZD.

    Thanks.
     
  7. Janoulaki

    Janoulaki New Member

    2.54 NZD to £1 at this second
     
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