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Greece defaults on loan to European Central Bank

Published on 10 February 2017 in News - Pages by Raffick Marday

The latest currency rates to be shown for today Thursday 19th May. Below are based on today’s Interbank rates at 07.15 AM. Please contact us for current live rates and an individual quotation or to get the best foreign exchange quotation you should consider using our comparison website to see who to use voted by you.

New Zealand’s currency did well yesterday as statistics showed there was a 2.2% increase in producer input prices in the first quarter of this year. The Canadian dollar lost ground as expectations of an increase in interest rates fell against many of its major counterparts and even hit a seven-week low against the US dollar. It hit a low of 97.26 cents. There is speculation that the Canadian dollar will decline to $1.05 against the US dollar by the end of the year.

Greece trying to default on the loan to European Central Bank

The pressure is heating up over the debate in the Euro-zone due to the Greek debt with the European Central Bank being at odds with the politicians. The ECB is taking a hard-line in that any change to repayment dates is a default whereas the politicians want to present it as a “restructuring”.

With Greek now facing a win or lose situation what will the outcome be and if Greece is done for defaulting the loan how will it affect the country, despite this, the euro still continues to outshine sterling giving the increasing interest rate environment and the strong growth being enjoyed by Germany and France. Call in now to get the latest rate.

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