Expat Currency News

Latest 10 news items tagged Currency

15 Nov at 6 PM 2018

UK expats urged to guard against volatile pound

As the Brexit scenario becomes even more confusing and unpredictable, UK expats overseas as well as sterling investors are being urged to take precautions against currency volatility. As the wrangling in the British parliament increases and calls for a second referendum grow louder, the pound sterling is weakening by the day. At the beginning of the week, the pound fell to $1.286 against the US currency and €1.12 against the euro. More falls are expected as it becomes obvious that Theresa May is unlikely to get lawmakers’ support...
12 Nov at 6 PM 2018

QROPS dilemma for UK expat retiree pensioners

Retiring in the sun is the dream of many older Britons, especially since the Brexit referendum. Expats past the age of retirement make up a sizeable percentage of British nationals living overseas, according to the Office for National Statistics. Portugal and Spain are major UK retirement hubs, with pensioners aged 65 and over accounting for 39 and 42 per cent of the total British expat population respectively in the two countries. In addition, 207,300 of the 784,900 UK-born nationals living in Europe are of retirement age or older....
25 Sep at 3 PM 2018

Outcry by ignored Brit expats forces May u-turn

After failing to include the rights of British expats in her Friday speech, the PM backtracked in a Saturday interview with the Daily Mail. Campaign groups fighting for UK expats’ rights as well as expats themselves reacted furiously to May’s Downing Street speech following last week’s disastrous meeting between the PM and Michel Barnier. During her speech, May had failed to mention British citizens in the EU whilst guaranteeing the rights of EU citizens in the UK even in the event of a no-deal Brexit. By Saturday, during an...
3 Sep at 6 PM 2018

Inexperienced expats warned about borrowing to fund cryptocurrency purchase

Expats based in the UAE are warned to beware of borrowing to fund cryptocurrency investments. One French expatriate based in the UAE and working as a cabin crew member with a major airline has lost almost all of the money he borrowed to invest in cryptocurrencies. Early last autumn, the French cabin crew member made several small investments in cryptocurrencies and came out of it very well due to the boom in the unconventional currency. Three months later, as the boom continued, he decided to get a loan and invest again. Having found...
30 Aug at 6 PM 2018

Brits in Spain lose millions to yet another financial fraudster

In spite of endless warnings about financial fraudsters preying on expats, another Ponzi scheme has now been uncovered. Victims of the latest financial fraud in the popular Spanish resort of Marbella have claimed losses of up to six million in sterling due to a Ponzi scheme being run by a Welsh investment advisor. Rhys Williams lived the high life in the resort, persuading his victims to invest eye-watering amounts in a Dubai printing and paper recycling firm as well as in Dubai trading platforms. The fraudster guaranteed returns of...
21 Aug at 6 PM 2018

Safeguarding your expat pension pot against a hard Brexit

As Brexit draws nearer with no agreement in sight, British expats in the EU are attempting to calculate the possible damage to their finances of a no-deal exit. Reports of the effect of sterling’s slump against the euro have increased concern amongst Europe’s UK expat communities about the likelihood of a hard Brexit causing further damage to the home country’s currency’s exchange rate. Nowadays, hundreds of thousands of British citizens are living in EU member states, with a majority of retirees living on their pensions. The...
17 Aug at 6 PM 2018

Expats in Turkey taking full advantage of shrinking lira

As the Turkish lira shrinks thanks to Trump tariffs, UK expatriates living in Turkey are going on spending sprees. As the near-collapse of the Turkish lira due to the effects of the Trump administration’s tariffs continues, one pound sterling now buys 89 per cent more of the local currency than in August last year. Expats and holidaymakers are taking full advantage of the situation, with a pint of beer now costing the lira equivalent of £1.22 – a price last seem in 1990! Bargain-hunting tourists are arriving in droves, and UK...
1 Aug at 6 PM 2018

Is offshore banking the best expat strategy

In spite of rumours about tax avoidance, offshore banking gives a number of advantages for expat professionals. The vast majority of expat professionals working overseas are paid in their local currency, with many having financial liabilities such as mortgages in the home country. Most are planning to either move elsewhere for work or retirement or even return home at some stage in their professional lives. For those concerned about banking security and ease of transferring money in various currencies, offshore banks are the sensible...
30 Jul at 6 PM 2018

Expats advised to remit as sterling struggles

British expats living and working overseas are being urged to remit as the pound sterling is undervalued. As fears of a hard Brexit and its devastating effect on the UK’s economy increase, expats working overseas are being urged to remit before it’s too late. According to analysts, sterling’s instability will continue over the eight months left before Brexit kicks in, with the chance of a no-deal becoming ever more likely. Since mid-April, when the pound was at its highest rate since the 2016 referendum, many factors are...
26 Jul at 6 PM 2018

Saving money on international transfers by shunning the banks

The 21st century is set to be the century of the expat, with more and more millennials opting to leave their home countries in order to further their international careers. As the number of expats working overseas at all levels grows, so do the amounts transferred between currencies and countries. The amount of money being sent across national borders is growing year by year as more and more people realise the world really is their oyster. Until recently, cross-border banking was a chore as well as a necessity, but traditional banks...