As I am buying in euros and the exchange rate fluctuates, how can I protect my capital?
A. If you’re buying a property overseas, one of the main concerns may be the fact that you have to pay for the property in a foreign currency. But with everything that has to be done before you even get to this stage, it’s all too easy to leave your currency exchange to the last minute and hope that the exchange rates fall in your favour. This can put your capital at risk, so it’s wise to plan ahead and take the necessary precautions. Once you know the price of your home, start to shop around for the best rates by calling the bank or one of the specialist foreign exchange companies. Although banks are traditionally the first port of call, it certainly pays to talk to the commercial foreign exchange companies as they usually offer better rates and sometimes a superior service. In most cases, their dealers will watch the markets for you and keep you informed of any significant changes. The commercial foreign exchange companies are also able to offer you a number of options for transferri
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