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Currency Exchange – Kaka’s Transfer Makes Waves in Currency Exchange Markets

Market CommentaryCurrency Exchange – Kaka’s Transfer Makes Waves in Currency Exchange Markets

Brazilian footballing hero, Kaka, recently transferred to Real Madrid for an astronomical £56m and there was indecision as to whether this represented a record fee due to the currency exchange rates. The pounds strength in the currency market has dipped since the previous record transfer.

According to a report in the Daily Mail, the previous world record transfer, that of Zinedine Zidane, again to Real Madrid for £47m, actually exceeds that of the Kaka transfer when exchange rates are taken into account. At the time of the Zidane transfer, in 2001, the deal would have actually constituted 73.5m Euros as the Pound was much stronger at the time and it was 1.65 Euros to the Pound.

This month’s transfer of Kaka to Real Madrid, however, sees the exchange rate standing at less than 1.2 Euros to the Pound and this means that Kaka’s transfer only comes to 65m Euros. Obviously, various elements concerning the currency market need to be taken into account but it has led to discussions as to whether Kaka’s transfer actually can be seen as the world record fee (although it is set to be dwarfed again with Ronaldo’s impending £80m move; again to Real Madrid).

Currency Exchange – Astronomical Exchanges

Obviously, most people won’t ever experience a currency exchange on the level which has been witnessed with the transfer of Kaka to Real Madrid for £56m but, regardless of the amount of currency you are seeking, it makes sense to seek out the additional knowledge of foreign currency experts who can make sure that the best rates are secured.

Large numbers of Brits will make a currency transfer that runs into the hundreds of thousands if purchasing a holiday home and with large payments, it is imperative to go to specialists because the capacity to lose out financially is large when using mainstream currency converters.

Currency Exchange – Money Matters

The issue of currency exchange is never far from the public eye and this has been particularly the case during the recession and economic downturn in the UK. It isn’t easy to keep abreast of all the factors which are likely to impact upon foreign currency markets, so it is invariably best practice to rely upon the services of exchange rate experts who make it their goal to secure the best possible currency exchange deals for their clients.

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Here at Pure FX, we take great pride in our specialist service in dealing with international payments and the processes involved with foreign currency exchange. We have many satisfied private and corporate clients who can vouch for the high calibre of our service and the professionalism of our knowledgeable foreign currency specialists. To find out more about our foreign currency and international payment services, just take a look around our website, give us a call on 01494 671 800 or fill in our online enquiry form.

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