Expat Exchange Rates News

Latest 10 news items tagged Exchange Rates

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....
6 Nov at 6 PM 2018

London property still hot for Middle East expat investors

The Brexit-hit pound sterling is providing a once-in-a lifetime opportunity to Middle East investors wishing to purchase UK property. Investors in Dubai and the rest of the emirates are piling their money into British buy-to-let properties, forcing house prices up whilst taking full advantage of the shrinking pound and low mortgage interest rates. Worse still, many are waiting in eager anticipation of a possible no-deal Brexit’s further negative effect on the sterling exchange rate. One Dubai-resident landlord already has a £14...
9 Oct at 6 PM 2018

Britons in Europe considering returning to the UK

Although it hasn’t had much in the way of press coverage, the decision to sell up and go home is being widely discussed within the British expat community across Europe. The discussions concern the fluctuating exchange rate, the uncertainty of the UK’s economy in the immediately post-Brexit future and the perceived value for money of UK property, as well as the likelihood of being able to survive in the UK on the measly state pension. At the present moment, the pound/euro exchange rate is hovering around 1.138, a significant 20...
4 Oct at 6 PM 2018

Brit pensioner and Thai wife steal cash and mattress from neighbour

A British expat retiree and his Thai wife have been arrested after being caught on camera stealing a mattress and cash. Sidney Michael Edwards and his wife Phensakao Nasok were arrested in a Pattaya rooming house last week after being caught on CCTV whilst stealing 126,000 baht (£3,000) and a mattress from an adjacent rented room. The couple. from Thailand’s Mukdahan province. had been staying in a rented room in Pattaya next door to another room rented by a Briton who was on holiday in Cambodia at the time. When he returned to his...
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...