Is it the best time to send money to Asia?
Let’s look at the trend of Euro’s performance against various South East Asian currencies in the past 120 days. Only rising waves!
So is it the best time to send money to the Philippines, Sri Lanka, Pakistan, India, Bangladesh, and Nepal? Well, the answer seems to be yes!!
What is the reason for this sustained rise?
For the uninitiated, TEMPO Money Transfer has put a list of reasons for the rise of Euro against all South East Asian currencies. As a matter of fact, the Euro is out-performing the US Dollar and GB Pound alike.
1. The European Central Bank’s (ECB) proposed quantitative easing i.e. efforts to directly increase private sector spending in the economy and return inflation to target, have been widely discussed and the decision on this stimulus is expected in early October. The awaited decision is leading to the rise of the Euro in the international markets
2. The ECB chairman also stated in a recent meeting on Sep 7, 2017 that the interest rates will remain at their present record lows for a long time — which was meant to reassure households and businesses, again consolidating the Euro’s position.
3. European economies, especially France and Italy, have performed well in past quarters and have been forecast to drive growth in the coming few months.
4. The US Federal Bank’s monetary policy is expected to have marginal effect on the US Dollar’s position globally. Therefore, the Euro will continue to outperform the Dollar in coming few months.
So, with that background, it is estimated that the Euro will continue to grow for coming few weeks making this the best opportunity to send money home.
With TEMPO you can send online with a click of few buttons by visiting our website http://tempo.eu.com.
For customers in Philippines, you can also send to your Coins.Ph account by using our online services and use your Coins.Ph account to pay utility bills.
So act fast, while the Euro is still climbing!
