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How do I get the best exchange rates for buying and selling sterling?
1 – Don’t use the bank! Despite what they might claim, they will not get you the best rate. If you believe my claim suprious call me now and make a comparison. 01494 787478 is my number, ask to speak with Jonathan.
2 – Speak to a currency broker about all of your options. A broker will be able to offer you an exchange rate that is better than a bank. If you have a broker already and want to check if they are truly getting you the best deal, speak to me again! I work as a broker and have done for 6 years. I have only ever worked for the same company and they have been in business for 15 years. I am very confident I can better any rate you are given, please speak to me Jonathan to learn more or email [email protected]
3 – Make some realistic plans! Just hoping exchange rates will rise isn’t enough. And just expecting the rate to move to a level you need is not enough either. Exchange rates move for a huge variety and range of reasons. Accept you will not buy at the absolute top of the market and that it could move against you. Speak to me about the range of contract options available to fix rates for up to one year and to receive updates on the foreign exchange market too.
How will the pound perform in April?
The rates really are predicted to fall in the coming weeks owing to the uncertainty of the election. Labour are not being viewed favourably by markets as they plan to increase spending, the Tories have pledged a referendum on Europe (bad for business confidence) and the consensus is for a hung parliament – again more uncertainty. Let us look at the last few events which led to political uncertainty in the UK. Ahead of the 2010 General Election sterling lost 7 cents, ahead of the Scottish Referendum sterling 5 cents. Now I ask you dear reader, what do you think will happen to sterling in the coming weeks?
Of course no one can tell you exactly or precisely what will happen on exchange rates. But by working with a specialist who understands the market and setting some realistic targets you can limit your exposure and maximise your gains when opportunities do arise. The gamble is to do nothing so please contact me to learn more and have a chat about your situation. Each transaction and circumstance is different, with various options to consider.
If you need to make a currency transaction in the coming weeks I would love to hear from you and personally assist in the execution and planning of any payments. Even if you believe you have a system in place a second opinion and price is often sensible. Please email me [email protected] or call (+44) 01494 787 478 and ask to speak to Jonathan. If I am on a call please leave some details and I will call you back personally as soon as possible.
We assist clients located all over the world but if you are in the UK, don’t forget to vote!
Source: http://www.poundsterlingforecast.com/2015/04/01/how-do-i-get-the-best-exchange-rates-for-buying-and-selling-sterling/
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