Desperate times for call for desperate measures.
The UK economy has shrunk by 24.5% according to the ONS, a scale never before seen before in history.
As a result, the Bank of England is now considering the mind boggling: “negative” interest rates.
This could have serious knock-on effects for the Pound.
Falling interest rates weaken a currency. Negative rates are far more extreme.
The Pound has been resilient recently as Coronavirus data has improved. However, economic reality awaits.
What Should You do?
As currency specialists, we appreciate our clients want to get the best rate possible.
But often sitting back and hoping for a certain rate in the future can be counterproductive and costly.
We can help structure a plan, discuss levels to aim for or ways to mitigate your currency risk.
You can speak to one of our account managers on 01872 487 500.
Or to find out our latest exchange rates, request a quote below.
Thanks For Reading, What Next?
Have a great day, Geoff Lambourne - Direct Dial me on 0044 (0)1872 487 470.
Current rates:
Tuesday 16th June 2020 at 09:30
£1.00 GBP = 1.1203 EURO
£1.00 GBP = 1.2639 USD
£1.00 GBP = 1.8239 AUD
£1.00 GBP = 1.9548 NZD
£1.00 GBP = 1.7109 CAD
£1.00 GBP = 21.4757 ZAR
Need to Send Money Abroad?
- At Clé France / Key Currency, many of our customers have a need for currency exchange.
- We are pleased to offer our customers favourable exchange rates on international currency transfers.
- As a Clé France website visitor, you qualify for preferential exchange rates when you transact through Key Currency.
How to Save Money on your foreign currency transfers
