Currency Calculator by Send Money Home.

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1 GBP = 1.13054 EUR
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1 EUR = 0.8845 GBP

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Getting a foreign exchange quotation

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Get a foreign exchange quote

Use professional currency company for foreign exchange quote and that way you can ensure your money is safe and secure.

One can also avail the services of recognised and reputed financial companies to transfer one’s money abroad without using banks’ facilities. The individual just need to open one’s account in such company and then transfer money to one’s relative or friend by using online services. There is no minimum amount to transfer and in most cases there are no transfer fees unless under £1,000. One get a free quote from such site and one can also easily open an account.

Get a foreign exchange quotation

The foreign exchange market helps the investment management firms to facilitate transaction in foreign countries. An investment manager bearing an international equity portfolio needs to purchase and sell several pairs of foreign currencies to pay for foreign securities purchase. It is by far the largest financial market in the world, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. The average daily trade in the global Forex and related markets currently is over US$ 3 trillion.

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Although foreign exchange rates are determined by several of the market factors but in the end it all boils down to one dominating factor and that is the supply and demand factors. Supply and demand for any given currency, and thus its value, are not influenced by any single element, but rather by several. These elements generally fall into three categories: economic factors, political conditions and market psychology.

The economic factors include:

(a) Economic policy, disseminated by government agencies and central banks,

(b) Economic conditions generally revealed through economic reports, and other economic indicators.

The political conditions include internal, regional, and international political conditions and events that can have a profound effect on currency markets.

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The Market psychology and trader perceptions also influence the foreign exchange market in a variety of ways:

  • Flights to quality: Unsettling international events can lead to a “flight to quality,” with investors seeking a “safe haven”. There will be a greater demand, thus a higher price, for currencies perceived as stronger over their relatively weaker counterparts.
  • Long-term trends: Currency markets often move in visible long-term trends. Although currencies do not have an annual growing season like physical commodities, business cycles do make themselves felt. Cycle analysis looks at longer-term price trends that may rise from economic or political trends.
  • “Buy the rumour, sell the fact”: This market truism can apply to many currency situations. It is the tendency for the price of a currency to reflect the impact of a particular action before it.

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