ECB plan to save the single currency

Published on in Foreign Exchange News by

Stock markets around the world soared yesterday after the European Central Bank launched its plan to save the single currency.

ECB chief Draghi confirmed the bank will buy the debt of troubled Euro Zone countries such as Spain to bring down their borrowing costs and prevent any break-up of the Euro. It came six weeks after he promised to do ‘whatever it takes’ to shore up the crumbling Euro. The Euro edged higher and borrowing costs in Spain and Italy fell, but the rule attached to the plan is further austerity measures for those countries which would be closely monitored by Euro officials and the IMF.

The next key issue is Spain and there is a cabinet meeting today where the question is `will they or won’t they?’ call for financial assistance. Technically a break above €/$ 1.2700 would influence further gains for the Euro against a broad range of currencies.

Sterling is a little lower versus a basket of currencies

Main Currency Pairs * Yesterday Today
GBP/EUR 1.26100 1.26010
GBP/USD 1.59040 1.59690
GBP/CAD 1.57320 1.56790
GBP/NZD 1.99700 1.98740
GBP/AUD 1.55310 1.54540
GBP/AED 5.83960 5.84440
EUR/USD 1.26130 1.26700
GBP/CHF 1.52010 1.51830
GBP/ZAR 13.3561 13.3083
GBP/SEK 10.6807 10.7140
GBP/JPY 124.843 125.202
GBP/PLN 5.31520 5.24120
GBP/SGD 1.98670 1.98370
EUR/PLN 4.20090 4.15940
EUR/CHF 1.20140 1.20490
GBP/MAD 13.9736 13.9339
PLN/EUR 0.23800 0.24040
GBP/CZK 31.3709 31.1278
GBP/DKK 9.42730 9.38940
GBP/HKD 12.3447 12.3523
GBP/HUF 360.094 359.677
GBP/NOK 9.24530 9.28990
GBP/INR 88.9479 88.6454
GBP/THB 49.7640 49.7329

Recent Posts

» «

Comments are closed.

Live Currency Calculators

1 GBP = 1.13724 EUR

1 EUR = 0.8793 GBP

Change Currencies

Free Currency Calculators Mobile App

Best iTunes currency converter mobile app

Free iTunes Mobile AppiTunes currency calculator mobile app for free. Find live currency exchange rates for your iPhone or iPad.

Best Google Play currency converter mobile app

Free Google Play Mobile AppGoogle Play currency calculators mobile app for Android phone. Free on google play getting live interbank exchange rates.

© 2018 Currency Calculators : All Rights Reserved : Google Currency Calculators - Bing Currency Converter- Yahoo Currency Calculators