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The War in Ukraine—Driving the Dollar Up

Screenshot of Douglas Herbert on France 24

Yesterday’s session at Après-Midi ran over the usual ending time of 5 p.m. because no one wanted to stop listening to France 24’s International Affairs Commentator Douglas Herbert’s take on “Disinformation for Dummies: Putin’s Propaganda War in Russia, Ukraine and Beyond.” The questions were flying around the room, as were his answers, holding us in deep awe for almost two hours. We were fascinated and no one wanted to leave the monthly coffee gathering.

The crowd gathered for Après-Midi in Paris

Douglas Herbert speaking at Après-Midi

We were able to record the session, so you have the distinctive pleasure of seeing and hearing it for yourselves, even from as far away from Paris as you might be at this moment. So sit back and take it all in just by visiting our site page to see the photos.

To view the recording, click here.

The war in Ukraine is no laughing matter, but the escalating conflict is sending investors to seek safe havens, propelling the US Dollar to the highest since pre-pandemic levels. We’ve watched the rate of exchange Euro to Dollar increasingly become more interesting from the perspective of our buyers, making property investment in France less and less expensive. As I write this, the rate of exchange is 1.00 US Dollar = 0.91450412 Euros or 1 EUR = 1.09349 USD.

Graph showing the strength of the dollar affected by the war in Ukraine

Currency exchange can be daunting to those who have lived all of their lives in one currency. But if you’re buying a holiday home or investment property in a country where the US Greenback is not the official currency, or just need to transfer from one currency to another to repay your mortgage or cover your living expenses, then the cost of making that trade can be greatly reduced by working with currency specialists instead of relying on your bank to make the transfer. And, we’ve got you covered.

The euro exchange rate is constantly fluctuating, especially at this very moment, due to the war in Ukraine, so trading at the right moment will mean your money goes a lot further. We work together with several currency exchange specialists to ensure that you make the most of your American, Canadian, or Australian dollars (or any other currency) when buying a property in France.

Chart graphing the exchange rate of Euro to US Dollar

How much does the rate of exchange matter? Here’s a scenario using real exchange rates (EU/USD): A property listed at €250,000 would cost $266,450 at an exchange rate of €1/$1.0658. But it would cost $284,925 at a rate of €1/$1.1397. That small move, just a few weeks apart, could cost you nearly $18,500—money that could otherwise go toward renovations, furnishings, or even just in-pocket savings. Planning and fixing an exchange rate at the right time can save you a lot of money.

If you leave payments until the last minute, you will have to accept the rate that the markets offer at the time of transfer. Making transfers with companies specializing in currency exchange is faster, more convenient, and more cost-effective than using your bank. Whether you’re making regular transfers, or need to make a one-off payment, these services don’t charge a commission and guarantee no receiving bank charges. They also offer free information and guidance on the currency markets, helping you decide on the best time to buy.

Screenshot of Ukraine financial markets in turmoil

Currency exchange specialists can also offer what’s called a “forward contract,” which allows you to fix an exchange rate at which you can buy/sell currency for delivery at a later date (up to two years ahead). Forward contracts protect against adverse currency movements and can be used to lock in favorable exchange rates.

The Adrian Leeds Group works with three currency exchange specialists:
Moneycorp, Currencies 4 You, and OFX

MONEYCORP

Photo promoting Moneycorp with people in their offices

Moneycorp is a foreign exchange and international currency specialist based in London, with an office in Nice, France. We have chosen to work with them as they provide excellent exchange rates and will support you during your property purchase in France to help secure the best rate possible within your given time frame. Every client is assigned a personal contact available as you need to get all the information on the exchange rate relevant to you, giving you more control over your finances.

The main benefits of using Moneycorp:

• Expert guidance from your own dedicated Account Manager.
• Highly competitive exchange rates.
• Ability to fix exchange rates for a set time period, protecting you from adverse currency movements.
• No commission or receiving bank charges.
• No cost and no obligation in opening a Trading Facility.
• Safeguarded customer funds.
• Hours: 7:30 a.m.–9:00 p.m. Monday to Friday, 9:00 a.m.–1:00 p.m. Saturday (GMT).

Moneycorp is a trading name of TTT Moneycorp Limited. The company was established in 1962 and has been dealing in foreign exchange since 1979. Since that time, Moneycorp has been providing clients with an exceptional level of service—as well as value for money. Last year alone they traded more than £22.7 billion in currencies through over 8.1 million customer transactions.

Recent regulations introduced by FinCEN (Financial Crimes Enforcement Network in the US) have made it compulsory for foreign brokers to apply for a license per US State. Moneycorp is licensed in all 50 states and is able to send and receive funds from both individual or third party accounts.

TO INQUIRE WITH MONEYCORP
Contact: Kelly Cutchin, Country Manager, USA (Florida Office)

Email: [email protected]
Tel: +1 407 352 5890
Tel: +1 800 239 2389
Mobile: +1 863 207 6616
Contact: Tanya Uniacke, Account Manager
Email: [email protected]
Main Office London: +44 20 7828 7000
Website

In the event Kelly or Tanya are out of the office, please ask to speak to any member of the French team, quoting Adrian Leeds as your introduction source. Be sure to tell Kelly or Tanya that Adrian Leeds sent you!

CURRENCIES 4 YOU

Currencies 4 You - Global Payment SpecialistCurrencies 4 You provide tailor-made solutions for thousands of private clients every year. Our strategy is to protect our clients from volatile fluctuations in the currency markets. We have our finger on the pulse to help our clients make a more informed decision on timing their currency purchase.

Whether you are transferring money overseas for your new life in the sun, investing in high-value goods, or simply making regular international money transfers, Currencies 4 You will help you achieve more for your money.

The Currencies 4 You benefits are:

• Transparent and competitive exchange rates.
• Fast, simple, and secure money transfers
• No fees for sending or receiving payments.
• Financial tools for your protection against the market; whether that be Forward Contracts or Market Orders.
• Dedicated analyst to provide guidance and market analysis for the duration of your time as a Currencies 4 You client.
• Offices in The UK, Spain & Portugal.

Currencies 4 You, Ltd. is a company registered in England and Wales (registered no. 06866898). Registered office: Regus House Victory Way Admirals Park, Crossway, Dartford, Kent, DA2 6QD.

Currencies 4 You, Ltd. Payment and Foreign Currency Exchange Services are provided by Equals Money. Equals Money is a trading style of FairFX PLC. FairFX PLC is authorized and regulated by the Financial Conduct Authority to provide payment services. (Financial Services Register No: 488396).

TO INQUIRE WITH CURRENCIES 4 YOU
Contact: Jason Clarke
Email: [email protected]
Tel: +44 1322 319 550
Website
Tell Jason Adrian Leeds sent you!

OFX

OFX Global logo

Whether buying a vacation home abroad, moving overseas, or running a business, OFX has your international money transfer needs covered.

Why OFX?

• Global provider of international payment services for individuals and businesses.
• Offices in US, UK, Australia, New Zealand, Hong Kong, and Singapore.
• Personal, proactive approach helping clients access competitive rates of exchange and no OFX fees.
• Better exchange rates than high-street banks, save up to 4% with OFX.
• Global currency experts available 24/7 to help with your transfer.
• Fast, highly secure payments for your peace of mind.
• Risk management tools through Limit Orders and Forward Exchange Contracts for up to one year.
• Fully licensed as per each jurisdiction and is regulated by the Financial Conduct Authority (FRN: 902028) for the provision of payment services.
• OFX also has the ability to offer extremely competitive ACH Direct Debit payments—ideal for sending a monthly mortgage payment or property rental from the US!

TO INQUIRE WITH OFX
Email: AdrianLeedsGroup@ofx.com
Tel: +44 207 614 4166
Website
Be sure to tell them Adrian Leeds sent you!

Now’s your chance to take advantage of the strength of the US dollar…but do it in the smartest way possible by using one of our brokers, instead of your US bank!

A la prochaine…

Adrian Leeds with journalist, Douglas HerbertAdrian Leeds
The Adrian Leeds Group®

Adrian Leeds with Susan BrowerP.S. Special thanks to Susan Brower for assisting with the audio set-up and videoing Après-Midi!

 

 

 

 

 

P.P.S. The tenant at our family’s studio apartment on rue Charlot just next to rue de Bretagne has just turned in her notice, so the apartment (missing nothing and absolutely heavenly!) will be available next month for long or medium-term rentals! For more information, email us today.

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1 Comment

  1. Ned Donkle on March 9, 2022 at 9:41 am

    Spot on with the FX commentary.

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