Expat Exchange Rates News

Latest 10 news items tagged Exchange Rates

14 Sep at 6 PM 2018

PremierFX bankruptcy scandal spreads to Mallorca

In a follow-up from recent news reports on millions being lost by expat investors in Portugal when a forex trading firm collapsed, details are now coming in about a similar scale of losses by expats living in Mallorca. The sudden, suspicious collapse of PremierFX Ltd’s three offices in London, Portugal and Palma resulted in Britain’s Financial Conduct Authority’s forcing of the company into administration, leaving hundreds of expats unable to access their funds and completely in the dark as to what happens next. The sudden...
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...
20 Aug at 6 PM 2018

Sinking sterling hits Brit state pensioners in Thailand

As sterling continues to struggle against the Brexit effect, UK expats in Thailand are feeling the pinch. For the more adventurous amongst British retirees, Thailand has been a favoured destination for several decades due to its weather, low cost of living and, for some, the readily available choice of young, female companions. In the good old days, an exchange rate of around 72 to the pound meant even a British state pensioner on the ungenerous £628 per month UK stipend could fund a comfortable lifestyle including housing and...
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...
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...
21 Jun at 6 PM 2018

Tips on selling your Spanish home if relocation is your answer to Brexit worries

For expats giving up and returning to the UK before Brexit, selling your Spanish home isn’t as straightforward as it seems. Selling a property in Spain is tougher as regards bureaucracy than the process of purchasing. The easy part is finding a buyer, especially nowadays as the number of Brits buying property and emigrating before Brexit kicks in ensures a steady flow of interest usually leading to a quick sale. It’s essential for sellers to have the help of experts in the legal process, but there are several ways in which the...
8 May at 6 PM 2018

Is Bitcoin a financial best friend for expats

It’s fair to say Bitcoin is now a huge topic of interest amongst the worldwide expat community as well as an investment for the adventurous. First created and launched in 2009, the cryptocurrency concept was designed to become a universal method of payment achieved through secure, automated transactions. In fact, the design itself was the groundwork for a totally new monetary system. From the start, it was used as an investment as well as a currency, leading to the amazing 2017 rise in its value from $1,000 to $19,000 over a short...
6 Apr at 6 PM 2018

Expat and local businesses fear downturn as Andalusia tourism slumps

British expat businesses as well as Spanish owners of tourism-related enterprises are worried about an unexpected drop in visitor numbers over the past several months. Whilst other regions in Spain are still seeing increases in visitor numbers, Andalusia’s total fell for the first time since the middle of 2016 by 3.1 per cent. At the same time, its rival regions of the Canaries and Catalunya saw 2.8 per cent and .8 per cent more visitors than in February 2017. British visitors make up 30 per cent of Andalusia’s tourist numbers,...
5 Mar at 6 PM 2018

Unanswered Brexit financial questions still worrying Brit expats in EU

Putting aside the problems of getting residency for long-stay British expats in EU member states, it’s the continuing financial uncertainty that’s causing increasing concern. It’s almost unbelievable that almost 20 months have passed by without any real clarification of the rights of both EU and UK expats, leaving just 16 months for negotiators to come up with concrete, acceptable proposals to safeguard the lives of the millions caught up in the chaos. Even now, the effect of the referendum on the value of sterling has caused...