Live Foreign Exchange Rates

Live foreign exchange rates show you the value of any given currency against any other given currency. In addition to providing you with the current rate, you can also see the intraday volatility of your chosen currency pairing, where the highest and lowest rates for the present day are shown.

Anybody can access our currency rates, but they are particularly useful for UK SMEs with dealings in foreign currencies. If, for instance, you know you need to purchase £1 million of US dollars six months from now, the live rates will show you the current market price for those dollars. As the value of the pound fluctuates throughout the days and weeks, so too does the amount of dollars you will get for £1 million.

The exchange rates shown are the ‘interbank’ exchange rates, which is the constantly fluctuating price at which banks trade currencies with each other. Importantly, the rates shown are almost always not the rate you can expect to achieve, as those purchasing currencies will have to pay a margin. Nevertheless, they are generally indicative of what you can expect.

As outlined above, it is essential that you can gauge some idea of the amount of one currency you can expect to receive by exchanging another. This can help companies budget correctly, as well as achieve the correct margins and profits. As the rate moves against you, it is essential that you ensure your budget accurately reflects these changes.

The interbank rates shown are updated every few seconds to give you precise information as and when you require it. The rates are updated 24 hours a day, seven days a week (although it is worth mentioning that there will be less movement throughout the evenings for obvious reasons).

Forward contracts enable you to reserve a price for buying or selling currencies on a specific date in the future. They can be an important part of a company’s hedging toolkit.

Spot contracts are the most basic of all foreign exchange products available. They involve the purchasing or selling of currency for immediate settlement on the spot date.

Foreign exchange options give businesses who hold an option the right, but not the obligation, to buy or sell currencies at an agreed exchange rate and date. They can protect you against adverse movements while allowing you to benefit from favourable moves.