Are you aware that if you are looking to transfer UAE Dirhams or US Dollars to Sterling, the rates are currently the best they have been since June 2010?
The drop in the value of Sterling against other currencies, such as the US Dollar, has been largely due to the tone set in February’s Bank of England Monetary Policy Committee meeting, fuelling fears over the possibility of more easing by the Bank.
So far this year, Sterling has lost 7% against the US Dollar and is at a 15 month low against the Euro.
Whilst it is impossible to predict how rates will move, if you have been considering moving your money, this could be a good time. Even if you do not have funds available at the moment, did you know that you can still take advantage of the exchange rate by forward fixing?
If you are planning on a currency transfer of a minimum of AED 10,000, or equivalent in any currency, you can take advantage of wholesale exchange rates that are significantly more competitive than those offered by your own bank and save up to 2% on the cost of transferring, without any fees.
Of course the same applies to other currencies that are pegged to the US Dollar, such as the Omani Riyal, Bahraini Dinar, Qatari Riyal, Saudi Riyal, to mention just a few.
The company that I use personally, as well as recommend to my clients, has its head officein the UK, is fully authorised by the UK Financial Services Authority and uses a major international bank for transfers. Transfers are available to and from any tradable currency. This system can be used by both individuals and companies.
Transfers are quick, easy and secure. We all want to get the most for our hard-earned money and a few minutes of effort could reward you with significant savings.
Contact me on keren@holbornassets.com for details of how you can save on your next currency transfers. Or register directly using the ‘currency exchange’ link on the home page.
