Foreign Currency Exchange rates

Case study one:
In late March Mr Watkins had found a property in Europe for which he had a balance of 150,000 Euros to pay. At this time the Euro reached 1.4900 to the pound, the property would have cost him £100,671.14

When Mr Watkins came to make the final payment in late April, the Euro had dropped back to 1.45, the result of which was a final price of £103.448.28 - an additional cost of a staggering ..................£2,777.14 in four weeks. !!

Much of this loss could have been prevented by securing the foreign currency rate with a forward contract. This mechanism is especially useful when market conditions are currently advantageous, but the currency is not actually required until a date in the future.
 

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