Best Exchange Rates UK take a look at the world’s top 10 foreign currency exchange companies. Who are the biggest players when it comes to exchanging foreign currency?

First place: Deutsche Bank, the German banking institution, is the world’s number one largest foreign currency exchange institution in the world. Deutsche Banks main clientele are institutions and corporate companies and mainly in sales and transactional banking.

Second place: Another top player is Barclays Capital which is the investment arm of Barclays Plc. Again it primarily serves large corporations and institutions and also serves and supports EU governments and Americas Treasury securities.

Third place: Swiss based financial services company UBS, who offer their services to private companies across the world, serving all the major financial capitals.

Forth place: Citigroup Inc, a New York based financier is the fourth largest foreign currency exchange company in the world but actually has the world’s largest financial services network. Before the economic down turn in 2008, Citigroup was considered the largest bank in the world based on its total net assets.

Fifth place: US company, JP Morgan Chase, a relatively new company formed back in 2000, the result of a merger between J.P. Morgan & Co and Chase Manhattan Corporation. The company mainly trade in retail and securities as well as offering investment services.

Sixth place: This goes to the well-known HSBC, commonly known as the world’s local bank, which happens to be the world’s second biggest banking and financial services group. HSBC serve over 80 countries across the globe, predominantly covering theAmericas, Europe andAsia.

Seventh place: The Royal Bank of England Plc scoops seventh place, it mainly serves theUnited Kingdomand has a subsidiary –  the Royal Bank of Scotland Group Plc. Combined these banking institutions have over 700 branches.

Eighth place: Credit Suisse of Switzerland. This is the second of Switzerland’s top 10 foreign currency exchange companies. Predominantly serving its home country, with around 240 Swiss based branches, Credit Suisse also has a presence in nearly fifty countries worldwide.

Ninth & Tenth place: These go to two American companies – Goldman Sachs and Morgan Stanley. Goldman Sachs covers mergers and acquisitions, ranging from governments and corporations to individuals. Its rival Morgan Stanley mainly focus on securities, investment and global wealth management.

As you would expect, most of the top 10 foreign currency exchange companies are major banking institutions. The top 10 companies covered in this article account for nearly 80% of the global currency exchange market.

 

Best exchange rates in the uk and hyperinflation – it is widely believed that hyperinflation is the end result of too much lending. In actual fact this is not the cause of hyperinflation – excessive government spending is the main cause and the current euro crisis could leave many European countries down the rocky road to hyperinflation (many are guilty of public sector extravagance).

The pattern looks a little like this – Government and public sector spending exceeds what is retuned through taxes. A bit like a bank account, your salary should cover outgoings; if it doesn’t you soon end up overdrawn and charges begin to mount up.  This is what happens to governments if they overspend, they are pushed into a situation where they must borrow. Interest and deficits expand, until they get to a point where there is no longer the readiness to lend. This works in much the same way for individuals and businesses, who will begin to face refusals on credit cards and bank loans if they are no longer seen as ‘attractive’ lenders and become a financial risk that outweighs any perceived benefits of lending. It’s the ‘will we get it back’ scenario. This begins to have a knock affect to the economy as a whole, so for the UK, this would affect getting the best exchange rates in the uk.

When this happens to governments, generally the central bank offers help. This is often described as ‘pulling money off a money tree’; the correct terminology is ‘quantitative easing’. Essentially the bank prints more money – this happened in the 1920’sWeimarGermanyhyperinflation situation and not so long ago inZimbabwe. In countries where cash is not the most widely used currency, like the UK where cards, cheques and wire transfers are the most common method of payment, money goes directly into the government’s account.

When this happens, the foreign currency in question suffers a blow, as purchasing power is lost, this is referred to as inflation, which is essentially an increase in money into the economy with no equivalent boost in output. This forces the price of products in an economy up.  Hyperinflation becomes apparent when general prices increase to such a degree, usually 50% or more and there becomes a reluctance to buy goods and currency to avoid loss of ‘real value’. This economic situation not only impacts on foreign money exchange rates like getting best exchange rates in the uk  but even forces countries to steer clear of their own currency.  Hyperinflation often occurs after major incidents like a war, revolutions and major political unrest and often takes countries decades to recover.

 

 

Getting the best exchange rate pound to euro has always been at the top of David Cameron’s agenda since he came into power and his views opposing the euro have become very favourable among the public, political and financial leaders alike. On the 28th January 2012 Cameron sparked anger among the Tory party by suddenly relaxing his view on the euro that he has historically remained very strong on and formed a new deal to help support the euro. Once again euro officials are trying to secure more money to help save the foreign currency.

Cameron contrary to his previous view has now agreed that the European Court of Justice could be used to enforce limits on state spending in the euro zone, he has previously been strongly opposed to this idea and adamantly insisted the institutions of the European union, which are funded by the UK, must not be used to bring about any such treaties and completely refused to sign up to this. He announced that he would no longer try and veto the deal.

Essentially the new treaty once signed will mean that the European Court of Justice will be able to fine countries that fall out of line with the strict rules surrounding deficits and debts which many are breaching on a regular basis.  Many fromWestminsterbelieve Cameron has conceded as a compromise to Deputy Prime Minister Clegg, who has always believed that theUKshould agree to the treaty.

The Euro zone crisis is affecting the UK and making getting the best exchange rate pound to euro a complex and politically driven problem. The UK could be asked to pile in yet more money – nearly £15 billion to be exact – this will not be well received by the very euro critical conservative party of which Cameron once held a shared view.

It is believed that the change of heart from Mr Cameron comes out of changes to the terms and conditions of the uses of the European Court of Justice in such a way that they have been relaxed enough to pose no serious threat to the UK economy and getting best exchange rate pound to euro. In addition the World Economic Forum exposed the UK’s readiness to increase funding, with the condition that the Eurozone put into place stringent processes to holdup their own foreign currency.

 

Best exchange rates for US dollars – the Canadian government have released a rare $3 billion dollar bond which is the first of its kind since 2009.  The decision was aimed at cashing in on Canada’s rather favorable position as one of the few countries in the world that is considered a very safe haven in these uncertain economic times. As predicted the bonds were swiped up in record time by banks and as the countries borrowing reached an all time record breaking low gobbled up by central banks and fund managers, pushing the country’s borrowing costs to record lows.

Canada, although not widely documented and covered in the press, has become an investor’s haven over the last couple of years as trouble sweeps through the euro zone and question marks remain over the financial policies of theUS.  Canada is in a very favorable position, it is now the third largest issuer of sovereign debt rated AAA by the main credit ratings companies. Up there with Canada is the UK and Germany, America and France were downgraded in January 2012.

Offers for the recent release of US dollar bonds by the Canadian government actually exceeded what was available by a ratio of 3 offers to 1 bond available which will have an impact on the best exchange rates for US dollars.

The eagerness of investors to get their hands on these bonds clearly demonstrates the countries high profile and standing among investors and the strength of its overall economy. If Canada’s debt position is compared to that of the UK it helps to understand the strength of their position,  Canada’s overall federal debt stands at just over $600 billion; the UK debt stands at over $1.8 trillion!Canada’s Finance Ministry has reported that they will use the bond sales for foreign exchange holdings. Canada’s attraction is largely part of the allure is Canada’s sterling fiscal position. The nation’s Conservative Party won a majority mandate last year, campaigning in part on a pledge of fiscal prudence.

It presides over one of the lowest percentages of debt as a share of gross domestic product in the developed world, 34.6% for fiscal 2012, compared with just more than 100% in theU.S.Still, the government has pledged to cut further in an effort to balance the budget by the 2015-16 fiscal year.

“Canadalooks very good, in terms of the net-debt situation that we have, compared to other countries,” said Patrick O’Toole, vice president of global fixed income for CIBC Asset Management.

Edward Devlin, executive vice president and head of the Canadian-portfolio management team at Pacific Investment Management Co., one of the world’s largest asset managers, said the firm’s holdings in Canadian bonds are bigger than Canada’s footprint in financial markets would dictate, with $11 billion of its $1.4 trillion under management invested in Canadian assets of some sort. Big institutional investors, including central banks, would gobble up more Canadian bonds if there was the supply, he said.

“If you areChina, if you are Middle Eastern money, if you’ve got a trillion or multiple trillions of dollars, you can’t deploy it inCanada. It’s just not big enough,” Mr. Devlin said.

 

 

Trying to find the best exchange rates for euros can be a tricky business, especially when there are so many different agencies that offer competing rates.  In recent times finding that great deal before the holidays has been made increasingly difficult due to varying economic factors that have left currencies all over the world struggling and poor in value.

There is good news on the horizon however, as things are beginning to look up.  Euro exchange rates are now improving as the pound is currently at a three-and-a-half year high – rising to better prices against the Euro – prices not seen since autumn 2008 when the Global Financial Crisis really began to set-in.  The feeling of relief will undoubtedly be shared by all, especially British holiday makers who have enjoyed a rate of just fewer than 1.21 euros for each pound this summer.  Due to the favourable exchange rate many British holiday makers this year took their holidays in European countries, where on average they enjoyed an extra fifty pounds.  Some have speculated that as the pound continues to recover and the euro hits further problems, there is a realistic chance that the pound could hit the 1.30 euro mark sometime during the autumn.

Money exchange can be a tricky business even at the simplest of times.  An exchange rate between two currencies is the rate at which one currency will be exchanged for another.  The myriad of different factors that can affect the value of a currency make trading and exchanging currencies very difficult business indeed.

In recent times the Euro has been struggling for a variety of reasons, largely due to the global economic slowdown and the persistent troubles that have plagued Greece, Italy and Spain.

So here are a few tips to help you when trying to find the best euro exchange rates:

Firstly, it is imperative that you research the current rate.  There is no possible way to know whether you are getting the best rate if you are unaware of what sort of prices you should be looking at in the first place.

Next, we would recommend ensuring that you are practiced in basic calculations of exchange rates.  This is especially important should you want to change cash whilst on holiday at different shops such as the post office etc.  Being able to think quickly on your feet is definitely very useful.

Finally, a tip for when you have returned from holiday with any spare euros: if you have any spare euros it could be worth calling a travel agent and asking whether they have clients that are due to go on holiday to countries using the euro, and if it would be possible for you to sell your euros to them.

To find out more about our euro exchange rates, please visit our site for further help.

 

 

 

In economics an optimum currency area is defined as the ideal area, in population and size that a currency needs to provide the most efficiency when it comes to money exchange rates. A large amount of the rationale for the single European Currency was that an exchange rate for euro would be much better than the foreign currency exchange rates which were in existence as often these smaller currencies were far too small to operate with much impact. Robert Mundell and Abba Lerner are amongst the pioneers of the theory and the Single European currency is the most quoted example of a before and after study in Optimum Currency areas as it is the largest modern example of an attempt to create such a region.

In 1961 Mundell published a paper in which he discussed stationary expectations and criteria that must be fulfilled in order to be a successful currency in such a market. Amongst the most stated criteria include:-

1: Mobility and freedom of labour across the region. This includes the physical ability to do this and also the financial ability to do so.  With a solid exchange rate for euro currencies with nearby currencies such as the UK Pound and Danish Krone the mobility is certainly one criterion the Eurozone fulfils.

2: Openness in capital mobility. This means the automatic distribution of money to where it is needed in a supply and demand economy as the Eurozone is trying to be. Interestingly, since the single European currency has been introduced the reduction of foreign currency exchange between Eurozone countries has increased the amount of internal European trade in what is being called the Euro Effect.

3. A risk sharing system at the root of the optimum currency area is often cited as a hugely important factor but due to the nature of sovereignty in Europe this has become a point of contention in the Eurozone. Better of regions generally do not want to forsake the revenue they are able to achieve by gifting worse of nations. Perhaps an internal exchange rate for euro nations on the single currency would solve this? Though, being no different in practice than the prior system it would likely do more harm than good.

4. Similar financial and business cycles for countries within the optimum currency area. This means that all countries within the region are likely to undergo booms and busts at around the same time and can equally participate in foreign currency exchange through a centralised bank which operates and services the entire Eurozone.

We see the Eurozone as a great example of how you can attempt conversion of a financial region into an economic powerhouse. The United States is one other example. Check out the exchange rate for euro and other currencies with us at Best Exchange Rates UK.

 

It is nearly 15 years now since the Eurozone began and we have seen the Euro become the second most widely held international currency on the foreign currency exchange after only the United States dollar. Exchange rate euros have become one of the most competitive currencies to be trading in on the international stage and it is worth, as we near such a significant milestone in the life of a currency, to have a look at some of the trials and tribulations it met with on the way.

Since its introduction the euro has shown a fantastic growth in the international foreign currency exchange increasing in ownership and trade by 10%. Conversely, the US dollar has fallen by 6% and the Yen by 3%. This is impressive for any fledgling currency but it is important to remember that exchange rate euros were built upon the history of the Deutsche Mark, which was itself a dominant currency and held fantastic money exchange rates.

Debate rages to this day about whether the Euro could eventually become an international reserve currency setting a benchmark for foreign currency exchange. We have seen attempts in the past to create a gold standard. Could a Euro standard be the way forward for an integrated world as we make our way out of the crisis? Only time can tell. Alan Greenspan, former head of the federal reserve has stated how he believes exchange rate euros could feasibly replace US dollars as the international reserve.

International status and usage of the Euro has grown massively since its introduction. As nation states have seen money exchange rates putting the Euro in an even stronger position in the foreign currency exchange they have been more tempted to join up. Since the initial 11 nations joined the Eurozone in its initial introduction in 1999 exchange rate euros have been adopted by Greece, Slovenia, Malta, Cyprus, Slovakia and Estonia. Several other countries are in the process of becoming eligible to become part of the single European currency. With money exchange rates being in a constant state of flux; perhaps a single Europe with a single European currency is a very real future we could see.

To learn more about exchange rate euros and how they can benefit you visit Best Exchange Rates UK.

Commemorative €2 coins have been quite regularly issued throughout Europe since their status was confirmed in 2004. With the exchange rate euro being so commonly traded on the foreign currency exchange there are a number of distinct coins a company specialising in money exchange rates could see on a day to day basis.

The year of 2004 saw a couple of particular gems. Europe’s smallest nation, The Vatican City, saw a limited run of 100,000 coins celebrating the 75th anniversary of the states founding. The central part of the coin depicted the perimeter walls of the famous St Peters Basilica. The church of our first Pope is certainly an image sure to resonate with much or Europe. The exchange rate euro would be ideal for anyone setting up a business in nearby Italy too, who in 2004 issued a coin celebrating the long standing world food programme depicting ears of maize, rice and wheat, one of our main sources of nourishment.

This summer foreign currency exchange was a requirement of many a traveller who came across to London to support their favourite athletes. Frances defending handball champions were great figures of pride to their nation as they retained the Gold medal and cemented themselves as legends of the sport for all time. If you took advantage of money exchange rates back in 2004and headed to Greece for the Athens games you could have found yourself with a coin showing an image of the Discobolus statue (The Discus Thrower to most of you). Certainly, what better a way to depict the Olympic spirit of the innovators of athletic competition than with this coin?

The year of 2005 saw a literary tribute to Cervantes emerge in Spain with a coin issued to pay tribute to arguably his greatest creation Don Quixote. With the popularity of investment in Spain a few of these could be seen by anyone taking advantage of the exchange rate euro. Why not tilt at a few windmills with us as we pay tribute to one of literatures most truly chivalrous figures. 2005 also saw San Marino pay tribute to the World Year of Physics. A 100 years after Einstein had his miracle year, publishing four papers including the single most famous equation in the field of Physics E=mc2. This coin featured a version of Galileo’s painting The Study of the Planets, amongst the greatest allegorical paintings in the field.

San Marino again had one of the more interesting coins in 2006 with a dedication to explorer Christopher Columbus commemorating the anniversary of his death 500 years previously. The coin depicted a portrait of his face in front of a background made up of his three ships

There are more of these coins and perhaps we will examine others in the future. For now if you have any exchange rate euro needs why not visit Best Exchange Rates UK and have a look? Keep an eye open, you might just see one of these along the way.

Fluctuations in foreign currency like exchange rate euros are factors in the external environment that can have a positive or negative impact on a business and could even be the difference between its success or failure. Exchange rates are the value of one currency expressed in terms of another. For example £1, the currency used in the UK, might be worth $1.35 in US dollars and €1.21 in Euros, the currency used by EU countries.

An appreciating currency is one that is stronger or increasing in value against another. If we take the pound against exchange rate euros as an example, if the pound is valued at £1 to €1.5 euros and then shifts to £1 versus €1.8, this means the pound is getting stronger against the euro. Conversely if a currency is becoming weaker and depreciating in value against another, the situation would be more like this, £1 to €1.8 euros, shifting to £1 to €1.5 euros, in this example the pound is getting weaker in value.

Foreign currency and foreign currency exchange rates are always shifting and changing, this is due to currencies being based on flexible rates of exchange.  The reason for this is that like products and services, currencies experience a change in demand. Governments, businesses and households require foreign currency outside of their native country to purchase services and goods, for instance holiday makers travelling abroad will want to exchange their pounds for dollars, euros or whatever currency they need for their chosen destination and businesses might want to buy machinery parts or raw materials that they cannot buy on home turf.

If we take Europe as an example, fluctuations in exchange rate euros, it can impact on a business for a number of reasons.  The rate of exchange could increase so that the pound decreases in value against the euro, making products more expensive to buy in. This can be particularly damaging to a business if they are buying large volumes or if the exchange rate fluctuation is particularly dramatic.  The price of imported raw materials may also change which means that businesses have to increase the price of their products to counter the increased cost of production. This could have a knock on effect and result in competitors being more cost attractive if they have been able to maintain the cost of their products. Fluctuations in foreign currency and exchange rate euros or any given currency can have a dramatic effect both on the business or consumer buying that currency and indeed businesses and consumers where the currency is being bought from, all of which has a knock on effect on the global economy as a whole. Visit us at Best Exchange Rates UK for your foreign currency exchange rates.

At Best Exchange Rates UK we have the best money exchange rates for UK residents looking to buy a property abroad and potentially secure a mortgage.

It’s amazing just how many people from theUKlook across international waters for a new property investment. In fact over 275,000 Brits are overseas property owners. It is estimated by the Office of National Statistics that this figure will rise in the coming years quite significantly. There are a million reasons why you might decide you want to buy a property abroad; the two main reasons are listed below:

  • Leisure – a nice holiday home for you and your family that could actually work out cheaper than an annual holiday every year for the next 25 years! You could also rent it out when you are not there.
  • Business – you may simply feel it’s a sounder investment than buying a property back in theUK, maybe it’s a good rental opportunity and will pay for it’s self over the years.

Money exchange rates were put under scrutiny when the out flux began and buying overseas property became popular, it was areas such as Spain and France that were the most popular, perhaps because they are within cheap and easy travelling proximity to the UK, sunny, culturally familiar and popular holiday destinations, therefore also offering potentially good rental opportunity. This trend has changed over the years however and although these European destinations remain popular, investors are becoming wiser and maybe even slightly braver and beginning to spread their wings into Eastern Europe, South Africa and even China. Demand is less in these destinations and supply is up and often property can be secured at bargain prices.

Whatever your reasons, the most important choice you will make once you have found the right property, is how to finance the purchase. If you are looking to get the best money exchange rates when exchanging your money into the desired foreign currency, Best Exchange Rates UK are the people to talk to. We have also devised an overseas mortgage guide to help you with the next important step in the buying process.