Currency Tools

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Currency Tools

The foreign exchange market operates 24 hours a day and is highly unpredictable. Most banks and currency brokers will be able to offer you a number of tools that you can use to manage how the market affects your budget.

Consider a situation in which someone is purchasing a property in France with a payment of EUR 180,000 to be made in 3 months time. Assuming the current Sterling / Euro rate of exchange is 1.47, you would have budgeted £122,449 for the purchase.

If the market moved against you in the 3 month period leading up to completion and the exchange rate fell to 1.42, the property would now cost you £126,761.

AN EXTRA £4,312 out of your pocket.

This type of situation can be avoided by using a simple forward contract.

What is a forward contract?

Have a look at the currency tools page below to find out about forward contracts and other currency tools that could save you thousands of pounds.

For currency exchange services and products, speak to London-based specialists, FC Exchange.

Foreign Currency Market Definitions
Foreign Currency Market Tools