Why is understanding about currency volatility so important?
At MyCurrencyTransfer (leading foreign exchange price comparison website) we write a lot about protecting against adverse currency fluctuations. If your currency transfer is not urgent then it is always useful to look at various options to ensure you transfer at the best exchange rates. The buy now and pay later approach (i.e. a forward contract) can often ensure that you transfer funds hasle free, not worrying about which way the markets move
Paul Chapman
Editorial Manager
At HIFX we understand that buying or selling significant amounts of currency can be a new and daunting prospect. It is essential to understand that when you agree to buy property abroad that you are exposed to ‘currency risk’. Ignorance could cost you thousands of pounds! The following example illustrates an avoidable and unnecessary increase in the cost of a property: If you had agreed to buy a property, priced at £135,600 in June 2005 (when the GBP/EUR exchange rate was 1.50) it would have cost you £133,333. Had you neglected to fix the exchange rate at the time, that same property would have cost £139,860 by the end of July, an increase of £ 6,527 or 4.7% in 4 weeks Customer service and efficient processing With 7 years experience helping clients to buy and transfer currency for a property abroad, HIFX understand your needs. We also appreciate that each client is different. That is why we will give you your own personal currency dealer who will take the time to listen and help you a
Related Questions
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