Expat Currency News

Latest 10 news items tagged Currency

17 Feb at 6 PM 2017

UK expat frozen pensions still under fire in Australia

In spite of many legal and political knock-backs, the fight against the British government’s stance on frozen pensions is still alive and kicking in Australia. The disgrace of frozen pensions has continued over many years, with many thousands of elderly UK long-stay expats living overseas being forced into increasing poverty by the rule. Currency fluctuations make matters worse, as a heavy fall in sterling can mean the difference between just getting by and being unable to support even the most basic lifestyle. Often, UK pensioners...
10 Feb at 6 PM 2017

Financial mistakes to avoid when emigrating

Moving overseas, whether it’s for a new job or retirement, is challenging at best and terrifying at worst, but care and common sense can make sure financial errors don’t ruin the entire experience. The majority of those intending to stay overseas for a good while are stuck with the necessity of packing and shipping their personal belongings.The obvious way out of this stressful do-it-yourself trap is to use a professional company which takes care of everything on a door-to-door basis, even although the service isn’t cheap....
9 Feb at 6 PM 2017

Cambodia surpassing Thailand as expat Shangri La

Overshadowed for years by its next door neighbour Thailand, Cambodia is coming into its own as the preferred destination for expats looking for friendliness, natural beauty, an inexpensive cost of living and straightforward visas. Famed for decades for its spectacular Angkor Wat temples, Cambodia has drawn tourists to its mostly unspoiled land for several decades, with its attractions as an expat hub now resulting in increased numbers of arrivals looking for a safe, friendly, laid back life. In addition, the country is growing its...
7 Feb at 6 PM 2017

Expat professionals still in high demand across Africa

As Africa struggles to find its place in the 21st century world, expat professionals are in high demand due to skills shortages and a lack of local talent. Many African countries have severe economic challenges even although commodity prices are still very low, with expat professionals in addition to local talent needed to allay skill shortages and boost economies across the massive continent. Expats who arrived some time ago have continued to transfer their knowledge and skills to local workers, but hiring of overseas expertise is...
19 Jan at 6 PM 2017

UK state pensioners in France terrified over more exchange rate falls

With the pound sterling forecast to sink even lower as the triggering of Article 50 draws nearer, Brit expats in France are fearing the worst. Theresa May’s long-awaited Brexit speech on Tuesday did nothing to allay the fears of British expats living in France on their UK state pensions. The PM’s continuing emphasis on a hard Brexit is expected to do even more damage to the already threatened currency and those who rely on it. Both EU and French politicians had been hoping for meat on the bones of ‘Brexit means Brexit’,...
13 Jan at 6 PM 2017

Can UK expats rely on state pension to cover bills

The UK state pension is one the most ungenerous in the developed world, forcing many British retirees to relocate in order to take advantage of lower costs of living elsewhere in Europe or Asia. Taking into account that UK pensions are frozen unless the relocation is to countries whose governments have an agreement with the UK, even those who move to cheaper EU destinations can find it hard to manage due to currency fluctuations. Even so, for many expats, the UK retirement pension forms the majority of their retirement...
12 Jan at 6 PM 2017

UAE expats rush to relocate currency as pound falls again

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. The...
9 Jan at 6 PM 2017

Expats and retirees paid in sterling feel exchange rate pinch

The shocking decline in the value of the pound sterling against major currencies is hitting UK expat pensioners as well as expats working overseas and being paid in sterling. The majority of UK expats are either retirees drawing pensions originating in the UK or professionals working on overseas contracts including sterling payments. Both groups are now being hard hit by the pound’s spectacular fall against a basket of major currencies. Overall, the currency has dropped 11 per cent over the last two years, but its fall post-Brexit...
22 Dec at 6 PM 2016

Is Tokyo truly the most expensive world city for expats

A new survey has identified Tokyo as the most expensive world city for expats. Jumping from 12th place to first in the ECA International Survey’s list of most expensive cities for expat life, Tokyo is now joined in the top ten by three other major Japanese cities. The 2016 survey placed Tokyo at the top of the list, which included Yokohama at fifth place, Nagoya at seventh and Osaka at ninth. The four cities are the most popular with expat workers, making the results bad news for long-stay expatriates. Surprisingly, the survey...
19 Dec at 6 PM 2016

Do expats really need offshore accounts

Even if you’ve banked with the same high-street name for decades, your banking rights as an expat might change, making you wish you’d opened an offshore account. If you’re moving to a country with unfamiliar or possibly less secure or efficient banking facilities, leaving your money in your home country bank account is an attractive option, but might cause problems down the line. For example, recent moves by British banks to close expat accounts have caused chaos, and UK banks have strict and very inconvenient rules about...