Expat Foreign Exchange News
Latest 10 news items tagged Foreign Exchange
6 Aug at 6 PM 2019
Investors both in the UK and overseas are waiting for a court date for their legal challenge.
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...
6 Jun at 6 PM 2019
United Nations employees in Nairobi are urging diplomatic intervention against landlords who refuse to refund deposits.
Expat employees working at Nairobi’s United Nations headquarters are up in arms about their Kenyan landlords’ refusals to return their deposits once their term is over and they leave their rental homes. Those affected are now urging diplomatic intervention in the struggle to get their money back. Staff have now sent an official letter to Ambassador Rose Makena Muchiri in her capacity of permanent representative...
5 Feb at 6 PM 2019
As British expatriates in Norway worry about Brexit’s effects, the government is warning its would-be expat students to avoid British universities, study programmes and foreign exchange
The Scandinavian country’s government minister for higher education told local broadcaster NRK she no longer recommends the UK as a suitable place for Norwegian students due to the anticipated effects of Brexit. She suggests avoiding any foreign exchange
programmes as well as degree courses, although those already involved in university...
17 Aug at 6 PM 2018
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 May at 6 PM 2017
Times are changing as regards planning for retirement, with actual pension plans beginning to lose their popularity due to government-initiated rule changes and media exposure of unsuitable products and even scams.
DIY investment is a scary thought for many expat retirees, mostly due to its jargons and the need to study before taking major plunges. However, retirement doesn’t have to mean brain death, and researching into investment possibilities can be far more interesting than learning a new language. The added bonuses are saving...
12 Jan at 6 PM 2017
Following yet another fall in the value of sterling on Wednesday, British expats working in the UAE rushed to transfer funds back to the UK.
Sterling fell a further 0.7 per cent against the US dollar, the local currency to which the dollar is pegged, starting a rush by UK expats to send even more money back home and causing remittance transactions to rise above the norm by 25 per cent. Expats from neighbouring European states also took the advantage to increase their savings simply by relocating them to their home countries.
30 Aug at 6 PM 2016
The recent devaluation of sterling has proved a bonanza for expats, with online UK shopping sites seeing a huge increase in turnover.
Following the rush from overseas for UK properties since sterling fell dramatically on the news that the Brexit referendum’s Leave campaign had won, online British sales websites have seen a similar rush to buy. The plunging pound has brought unprecedented demand from overseas buyers for all kinds of UK goods from clothing to favourite foodstuffs.
One online favourite, Waitrose, now offering its...
19 Jun at 9 AM 2015
London is now a cheaper city to live in for expats than Geneva, Hong Kong and the Angolan capital Luanda revealed a new study.
The British capital came 12th in the latest cost of living poll, which looked at the priciest cities for multinational companies to base their expatriate employees.
The news may come as a surprise for HSBC as it considers changing its headquarters from London to Hong Kong, with the East Asian city being named the world’s second most expensive city to base expat staff.
The study, which is conducted...
18 Mar at 6 PM 2015
According to a recent survey, two thirds of pensioners are now less financially well off compared to ten years ago.
Equiniti, a pension payments firm, have looked into how pensions being paid in Sterling compare to other currencies.
With the majority of the firm’s 60,000 clients living in the Eurozone, this is bad news although the growing pound enables people to enjoy a higher exchange rate in other countries.
Over the past year, the pound has increased 10 per cent in value against the euro, yet the pensioners are worse off...
22 Jan at 12 PM 2015
Sri Lankans living overseas will now be permitted to vote in their country’s polls in further changes made under President Maithripala’s Sirisena’s new regime.
The last Sri Lankan elections were held on 8 January, but expatriates, of whom there are an estimated 1.7 million, were not allowed to cast their ballots.
However, under the new regime arrangements are being made to rectify the situation and allow them their votes, according to the Muslim Tamil Alliance leader and former deputy mayor of Colombo, Azath Salley, who is...