Over this week the GBPEUR exchange rates have been very volatile, moving by nearly 3 cents in 5 days. Regular readers will be aware that is has been down to speculation that the European Central Bank would change banking policy for the better, and help the Eurozone out of problems. However this seems to have been just a political ploy as nothing significant was announced and as a result the gains the euro had seen evaporated over a few minutes.
So what can we do can we do to help?
Well we all work for a company called Foreign Currency Direct PLC and we have been helping people move money internationally for over 12 years. We have won a number of awards for both our exchange rate and our service, quite simply put, if we could not save our clients’ money against the banks we would not be in business. If you need to move funds and want to make sure you are both getting the best exchange rates and want help to try and time your exchange, we can help.
I have helps two clients that contacted me this week after reading my blog on Monday. In both occasions they were looking to sell euros and buying pounds. One of which had all the funds available and the other who didn’t was decided to use a Forward contract. In both situations it was decided to move on the expectation of change yesterday rather than waiting for the release which seems to have been the correct decision. Both saved over 2 cents compared to when they first contacted me, plus if we had waited any longer it could have cost them a lot more. At the time we worked out that one saved nearly £8,000 and the other £2,500, or 2%.
These are normal clients and situation, we are helping people do this every day of the week. If this sounds like something you might be interested in feel free to contact us with no obligation so we can introduce ourselves a little more formally. Either call us on 0044 (0) 1494 787 478 and ask for me Steve Eakins or email me at [email protected]