Expat Exchange Rates News
Latest 10 news items tagged Exchange Rates
3 Sep at 6 PM 2019
As the British parliament reassembles for the fight of its life, expats and holidaymakers get slight relief as sterling temporarily stabilises, albeit at a low rate.
Ever since the so-called ‘election’ of Boris Johnson as the UK’s latest prime minister, the slide of the pound against the euro and a host of other currencies has continued amidst doom-laden projections of its final fate after a no-deal Brexit. It seems as if every time Johnson makes yet another upper class-accented statement, more British expatriates get less...
28 Aug at 6 PM 2019
If you’re working in the UAE and hoping to retire there, planning your financial future is important.
Expats in the emirates are facing a retirement crisis, according to investment professionals. The UAE makes no provision for expat pension schemes or social security, in spite of the fact that a good number of expat professionals would prefer to spend their retirement in a place they now call home. As with the vast majority of developed countries, life in the Gulf States isn’t cheap, with costs of living similar to those in...
27 Aug at 6 PM 2019
For more than a decade, Thailand has been a favourite destination for Western expats looking to enjoy better weather than in the home country, a more laid-back lifestyle and a lower cost of living.
For expat retirees in particular, Thailand was the top choice for many years, but a recent change in attitude by the military-run government and its immigration department has caused a good number to consider relocating to friendlier shores. Another reason for this decision is the combined effect of inflation and the overly strong baht on...
22 Aug at 6 PM 2019
A recent survey suggests Brexit is wrecking overseas retirement plans for British citizens.
The survey was carried out by Canada Life and involved 1,006 Britons over the age of 50 who were considering moving overseas after retirement. The results weren’t encouraging, as almost half of respondents who’d been planning to retire overseas were now reconsidering and resigning themselves to staying in the UK. Others believe the threat of Brexit and the difficulties of retiring in Europe without freedom of movement is causing them to...
6 Aug at 6 PM 2019
Investors both in the UK and overseas are waiting for a court date for their legal challenge.
Foreign exchange traders are facing a legal challenge for compensation after the discovery that secret rate-fixing on a major scale has been taking place in online chat rooms. European Union investigators have uncovered the use of online chat forums by employees of major banks in order to secretly manipulate and fix currency exchange rates
to the detriment of users.
The EU has issued fines totalling £1 billion to international banks...
31 Jul at 6 PM 2019
Due to the unprecedented fall in the sterling exchange rate
, a good number of UAE-based Brit expats are sending money back to the UK.
British expats living and working in the UAE are now moving savings and spare cash back to the UK, thus taking advantage of the worst exchange rate
in a decade or more. As sterling sinks ever lower on the threat of a broken economy due to a no-deal exit from the EU, increasing numbers of British expatriates are cashing in on the once-in-a-lifetime opportunity. For British professionals who arrived in...
30 Jul at 6 PM 2019
The battered pound is now causing genuine hardship for British expats living in Europe and across the world, with gloomy predictions of further falls in the event of a Johnson-engineered no deal Brexit.
Over the past several years, the referendum itself, Brexit predictions and parliamentary chaos had already caused a drop in sterling versus the euro and other world currencies, but the selection of Boris Johnson as Britain’s prime minister has forced the currency to a two-year low due to his focus on a no deal Brexit. At this point...
19 Jul at 6 PM 2019
Expats living in Europe are seeing low cost of living increases.
Expatriates living and working in the European Union are facing an average cost of living increase of 1.6 per cent in both May and June this year. According to the European Central Bank, it’s targeting an increase of just below two per cent, with European parliament members now saying they’re ready to support increasing inflation by means of raising interest rates.
Those living in Romania have seen the highest inflation at 3.9 per cent, with Hungary coming in on...
27 Jun at 6 PM 2019
This year’s Mercers’ cost of living survey placed Dublin in 43rd place, with the city losing 11 places over last year’s study.
As inflation and poor currency exchange rates
stalk the expat world, those expatriates using surveys to decide on their next destination are in for a number of shocks. Over the past three years, Dublin had become a favourite for UK refugees from Brexit and the resulting broken economy, but the dramatic fall in the value of sterling and the city’s increasing property rental prices may now be enough to...
26 Jun at 6 PM 2019
Whilst British expat retirees are counting the pennies, multinationals relocating staff to London are cashing in on the weak pound.
By now, it’s a well-known fact that British retirees in popular EU retirement destination are having a hard time making ends meet due to the falling pound, but many don’t realise that companies sending expat staff to the UK are saving money for the same reason. In the 2018 annual surveys, London was the 19th most expensive world city for relocating expats, but this year’s rating for the capital is...