Scenario
Mr and Mrs Wise need to buy 25,000 Euros every 3-6 months to help service living and maintenance costs for their second home in France. As with every time they purchase they are not sure when may be the best time to buy their Euros so like to allow enough time before their requirement to monitor their exchange rate.
Every time they have a requirement Mr Wise uses the exchange tools on the Currency Today website and calls Toby Fischer to ask for his advice on the currency markets and more importantly what the pound has been doing against the Euro. At this point Mr Wise will ask Toby to set an UP or DOWN currency alert which requests immediate notification by phone if the rate moves in his favour or down from the current exchange rate.
You too can take advantage of our up and down currency alert tool, sign up for an alert here.
Outcome
For example, on 5th June 2009 when the rate was at 1.1300 (costing £22,123 for 25,000 Euros) Mr Wise asked Toby to contact him if the rate reached 1.1600. On the 10th June Toby notified Mr Wise by phone that this rate was now available in which Mr Wise then agreed a SPOT contract to buy 25,000 Euros at £21,551. This created a saving of £428.
Like Mr and Mrs Wise you too can receive free expert advice from Toby Fischer to ensure you get the best deal on foreign currency transfers...