Convert Euros To Usd

Currency exchange: taking a currency punt is possible

"Given the wild fluctuations in the currency markets, there are plenty of opportunities to invest; however, this does not go without its warning. The big threat is, obviously given the volatility and irrational nature of the currency markets, any speculation is effectively a gamble."

Investors are pushed and pulled around by the twin drivers – fear and greed.

Another FX firm, Currency Solutions, reports a significant increase in their clients transferring money based on where they think rates will go.

One of their clients who moved to Australia in 2006 is happily paying for his daughter's wedding back in Britain because he's made 40 per cent on the Aussie dollar strengthening against sterling since he moved.

Another moved most of his savings and investments to the UK rather than leaving them in Irish banks where he is based. The interest he can earn is better in Britain and he was worried about the state of Ireland's economy.

Tien Tran, director of Currency Solutions, says: "He reasoned that because over the past decade the euro/sterling rate had averaged around 1.35, so by exchanging his money at 1.13 he was 19 per cent up on the long term prevailing exchange rate. When moving hundreds of thousands of pounds this is a significant return."

But trying to be a mini George Soros – the man who made more than a billion dollars on Black Wednesday by betting against the pound – comes with serious wealth warnings.

Simon Smith of FxPro says: "What strikes me in these situations is that normally rational people suddenly turn into high-risk investors. Currency trading or investment can be a useful addition to an investment portfolio, but the risk/return characteristics mean that it should be in the mid- to high-risk category and should form a small proportion of your portfolio. Nevertheless, when people move abroad, some will literally bet the house on currency movements."

Currency trading is not an easy way to make money. There are often wild swings in the exchange rate and logic flies out the window. For example, given the fact that the eurozone has been lurching from one crisis to another as it frantically props up yet another ailing country, you would think the euro would be weak. But in fact it's relatively strong on the back of the European Central Bank raising interest rates.

Banca: Convert Currencies Swiftly With this Beautiful iPhone App

With the US economy in flux, it?s a good idea to keep a close eye on your dollar. As world travelers we find ourselves spending a good dime overseas, and international friendships online can lead to an occasional penny dropped in each other?s PayPal bucket. As foreign currency plays a big role in today?s lifestyles and businesses ? boundaries are practically absent ? knowing how the USD compares to the Euro or the Australian dollar at the press of the button becomes very useful. Radiant Tap?s Banca for the iPhone isn?t just a calculator, but a currency converter (it supports all of the world?s currencies) that?s both beautiful and incredibly elegant in design.

What impresses me most about Banca is that the one thing it does is pulled off through a simple tap and swipe interface that?s quick to pick up and even quicker to use. Slide the top bar to select the currency you want to convert from (say USD), then the bottom bar to select the currency you want to convert to (probably the Euro). A simple calculator lets you perform simple arithmetic with add, subtract, multiplication, and divide functions. A green settings button above the equal button allows you to customize your list of currencies, and update the exchange rates for the current day through simple taps.

In customizing currencies, you can add and delete as many currencies as you want or need to the slider through an edit menu that allows you to reorder and swap out the Hong Kong Dollar for Pesos. The currency list is so long (as it includes older currencies) that a search bar helps you quickly find currencies you want to add.

Returning to the calculator, there?s no doubt this is one of the prettiest calculators you?ll see on the iPhone. The color contrasts, button stylings, and faded display for currency conversions add up to an app that?s both professional and visually appealing. The Retina display does wonders in showing off just how crisp the calculator buttons look against the dark background.

The simple calculator functions in that you can?t visually see additions and subtractions as you make them, with errors being removed via the delete button between the one and zero buttons. The problem with the delete button is that it?s sometimes hard to determine whether you?ve wiped out everything ? have you deleted what?s on the display, are have you erased what?s in memory? The trick is that if you tap the delete key, you can erase characters one at a time, while holding down the delete key will start you over.

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