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Archive for May 2nd, 2009

Every year, thousands of people from New Zealand and all over the world move to Perth, Australia. The capital of Western Australia, Perth offers a wonderful lifestyle for relocating professionals. Although it is not as populated as Sydney or Melbourne, Perth is situated on the Swan River and the Indian Ocean.

An important part of the relocation process is to transfer your foreign exchange money. With global economic uncertainties, more people are looking for increased financial security and in particular guaranteed exchange rates. Whether you are buying property in Perth as a primary home, for retirement or as an investment, there are a range of foreign currency exchange transactions required before and most likely after you move. Most property vendors in Australia require a 5% to 10% deposit once you sign the property purchase contract with the balance payable upon settlement which is typically 60 to 90 days.

Having a foreign exchange rate specialist such as HiFX will allow you to protect yourself against adverse foreign exchange rate movements.

 

How does HiFX’s Exchange Rate Guarantee work?With HiFX, you can fix the currency exchange rate now, by paying an upfront premium (similar to an insurance premium) and decide on expiration date whether the current market rate is better or worse than that guaranteed. If it is worse, you simply exercise the contract for the rate guaranteed. If the market rate is better, you let your Exchange Rate Guarantee lapse and transact at the current market level, taking advantage of the gain. It is important to remember that buying a property in Perth http://www.realestate.com.au/realestate/wa/perth without fixing the exchange rate at the outset is a risky exchange rate strategy.

 

 

HIFX helps over 25,000 people buy and transfer foreign currency every year and so when you are planning on relocating to Perth, Australia, be sure to order an exchange rate information pack

For further information on our foreign exchange services, please call our Private Client Desk on +61 (0)2 9251 2626 or complete the foreign exchange call me back service to have one of our representatives call you at your convenience.

Call now for our specialist advice

Open 8am to 6pm Mon–Fri.

+61 (2) 8270 4500

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