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TWF Daily Currency Update:- 24/03/2020

Discussion in 'Money, Accounts & Finance' started by Currencies Direct, Mar 24, 2020.

Do you sell internationally?

  1. Yes

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  2. No

    0 vote(s)
  1. Currencies Direct

    Currencies Direct

    Feb 6, 2020
    EXCLUSIVE OFFER FOR TWF: Create an account with Currencies Direct and receive a £30 Amazon voucher when you trade +£5000 before June 30th! https://www.currenciesdirect.com/twf

    TWF Daily Currency Update:- 24/03/2020

    Today’s e-commerce exchange rate update

    For online sellers paying suppliers in foreign currencies, or converting international revenue, exchange rate movements can have a significant impact on profitability – from increasing the cost of invoices to reducing the return on your payments.

    Stay on top of the latest rate movements in minutes with our daily rate alert.

    Pound Sterling (GBP)
    The pound came under pressure on Monday as the UK went into lockdown, but the currency was able to claw back some of its losses on Tuesday despite a dire UK services PMI reading. The measure of output in the UK’s services sector came in at 35.7 rather than the 45.0 forecast by economists.

    GBP/EUR – Holding at 1.07
    GBP/USD – Trading at 1.17

    Euro (EUR)
    The euro slid against the pound on Tuesday but gained against a broadly weaker US dollar.

    Demand for the common currency was mixed as PMI data confirmed that the Eurozone’s service sector all but ground to a halt in March.

    EUR/GBP – Trading at 0.92
    EUR/USD – Up to 1.08

    US dollar (USD)
    The US dollar broadly weakened as the Federal Reserve unleashed fresh quantitative easing measures to help limit the impact of the coronavirus crisis.

    USD/GBP – Trading around 0.85
    USD/EUR – Fluctuating around 0.91

    At Currencies Direct we’ve helped more than 325,000 customers save time and money on their currency transfers since 1996
    If you’d like to find out more about the latest rate movements and how they could impact your international payments, contact our expert team or get a quote now.

    Call: 0207 847 9269 Email: (Email Hidden for Privacy)

    Please get in touch with us for a live trading rate.
    Last edited: Mar 24, 2020
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