Spanish Property Deals

How important is currency exchange rates?

When making an overseas purchase, currency exchange may not be the first thing on your list. It can be equally as important as the purchase price though, as the exchange rate has a direct and noticeable impact on your bank balance.

So, how important is currency exchange rates?

For example: A property costing 250,000 Euros in July 2007.

250,000 Euros purchased on the 24 June would have cost £165,175. However the same 250,000 Euros purchased on the 21 July, less than one month later would have cost £174,775. A difference of £9,600. (costing you £ 9,600 extra)

How important - "Very Important"

The extraordinary increase in price is due to movements in the foreign exchange market, a highly complex system of banks and trading companies working continually to speculate on, and control, our global economy.

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