Live Currency Rates
The foreign exchange market is a global financial market with an estimated £6.29 trillion turnover every day. It runs 24 hours a day apart from weekends, opening at 20:15 GMT on Sunday and closing at 22:00 GMT on Friday. The enormous volume of trade that is constantly taking place causes huge fluctuations in the live currency rates. The relative value of a currency is determined by its trade value in the foreign exchange market, so it is very important to keep up to date with the live currency rates in order to make an exchange at the right time and get the most from your money.
The most traded currencies are:
- United States Dollar – USD ($)
- Euro – EUR (€)
- Japanese Yen – JPY (¥)
- Pound Sterling – GBP (£)
- Australian Dollar – AUD ($)
- Swiss Franc – CHF (Fr)
- Canadian Dollar – CAD ($)
- Hong Kong Dollar – HKD ($)
- Sweedish Krona – SEK (kr)
- New Zealand Dollar – NZD ($)
- South Korean Won – KRW (₩)
- Singapore Dollar – SGD ($)
- Norweigan Krone – NOK (kr)
- Mexican Peso – MXN ($)
- Indian Rupee – INR ()
Many factors affect the live currency rates:
- Economic Factors
- Economic policy such as government budget and spending measures.
- Interest rates, inflation and international trade levels.
- Economic growth such as GDP, employment levels, retail sales and productivity.
- Political Conditions
- Political stability and party confidence.
- Elections and policy referendums.
- International relations and trade embargos.
- Market Psychology
- Flights to quality – the movement of funds from a potentially risky currency to a perceived ‘safe haven’ currency.
- Long-term trends, often related to business cycles.
- Economic numbers – sometimes specific figures achieve a status of power or control in the market that cause investors to react in a certain way.
We take into account all of these factors and provide you with currency reports and live currency rates to help you make an informed decision and obtain the best exchange rates available to you.
