Expat Currency News

Latest 10 news items tagged Currency

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...
16 Dec at 6 PM 2016

Falling yuan causes expat belt tightening

Expats working in China are tightening their belts against further depreciation in the value of the yuan. According to Chinese media reports, the yuan is now at its weakest point against the US dollar since the 2008 financial crash. Expats whose salaries were agreed as late as 2015 are feeling the pinch and are concerned about further falls resulting from the USA’s recent decision to raise its interest rates. For the last decade or so, China has been an increasingly favoured destination for millennials' sense of adventure, with...
13 Dec at 6 PM 2016

Common sense tips for expat newbies in Dubai

Newcomers to Dubai’s dramatically different culture can be excused for making all the usual mistakes whilst settling in to their new lives, but most issues can be easily resolved with common sense and advice from long-stayers. Relocating to any foreign country can be stressful in itself, but when your new location is as different as it possibly can be from your home country, it’s best to take care not to upset the locals. Dubai is a magnet for talented professionals from across the world, but it’s no comfort that you’re not...
5 Dec at 6 PM 2016

Brexit effect devastates Spanish property market

Real estate agents in the Spanish Costas are reporting British demand for homes in the sun has fallen by 50 per cent since the Brexit vote. According to local estate agents, British demand for holiday and retirement homes in the popular Costa del Sol and Costa Blanca regions has fallen by 50 per cent since the Brexit vote and subsequent sterling crash. The slump wiped out strong gains in the market during 2015, during which 10,000 homes were purchased by Britons taking advantage of the strong pound. Traditionally, British buyers...
17 Nov at 6 PM 2016

Expat buy to let property investments soar since sterling fall

New research has shown a considerable increase in the number of British expats overseas investing in UK buy-to-let property. The surge is being attributed to the sterling crash following the Brexit vote. Skipton International, one of the few British financial institutions offering expat buy-to-let loans, has shown an 80 per cent increase in loan applications from UK expats working overseas. British nationals working in the Gulf States have been first in line to take advantage of the exchange rate, and are being followed by expats in a...