Expat Currency News
Latest 10 news items tagged Currency
26 Oct at 6 PM 2016
British expats in Asia may believe they’re safe from the devastating future effects of Brexit, but its tentacles are due to reach across the world as regards finance.
The Asian powerhouse cities are thousands of miles from the British Isles, but UK expats’ finances will still be hit hard by Brexit. At present, the political stance in the UK is that a ‘hard Brexit’ will be the result of the referendum, due to the government’s insistence on total control of immigration.
This will lead to no free trade and no single market...
24 Oct at 6 PM 2016
Following on tales of woe by USA expats on the subject of account closures by their home country banks, expat brokerage accounts at Merrill Lynch are now closed with very little notice.
The famous USA wealth management firm has sent letters to a large number of their expat clients informing them that, from October 1, their brokerage accounts would no longer be supported. Excuses given included the result of an internal review of non-US resident clients’ accounts.
According to the firm, the review confirmed its inability to...
17 Oct at 6 PM 2016
Human resources consultants in Singapore are warning tighter labour market and slowing economy may reduce demand for expat professionals.
Although the market for top jobs is expected to stay strong, expats looking for middle managerial or more junior positions are likely to be disappointed. Singaporean employers are now opening up such positions to local workers, of whom there is a ready supply, and the change will support government initiatives aimed at boosting local employment.
September figures released by Singapore’s...
17 Oct at 6 PM 2016
After the pound sterling fell to a 31-year low last week, British expats working in the UAE rushed to remit currency
to the UK.
Remittance volumes from the UAE to UK banks have soared by 135 per cent over the same week in September as expats took advantage of the fall in sterling. The cashing in is likely to continue as major banks are predicting further falls in the next few weeks.
The Bank of America, HSBC, Deutsche Bank and Goldman Sachs are all predicting more pressure for the pound sterling as traders take into account the...
11 Oct at 6 PM 2016
British expats living and working in the UAE are unconcerned about the drop in value of sterling, provided their families are with them.
Amidst disturbing rumours forecasting a ‘hard Brexit’ and last week’s sudden ‘flash crash’ of sterling, UAE-based Britons are saying they have little cause to worry, especially if their families are with them on the overseas assignment. Many receive their salaries in US dollar-pegged dirhams and are only feeling the effects of the crash if they have families visiting from the UK.
10 Oct at 6 PM 2016
The dramatic decline in the value of sterling is causing misery for a huge number of British expats living in EU member states and other world countries.
British retirees in Spain, France and Italy are not only facing an uncertain future as regards their rights to stay in their chosen countries, they’re also seeing their spending power eroded at an unprecedented rate. A majority of UK expats living in other EU states are the worst off, as they rely on UK state pensions, private pensions or company schemes, with the pound now...
6 Oct at 6 PM 2016
Four months after the devastating Brexit announcement, British expats in France are beginning to feel its effects.
A majority of Britishers living in France are either retirees on pensions or owners of small businesses serving mainly the local expat community. The initial shock of sterling’s fall following the referendum result hit hardest on retirees living on just the UK state pension. The currency
’s partial recovery gave a brief respite, but Theresa May’s recent announcement that Article 50 will be triggered next March sent...
25 Aug at 6 PM 2016
Banks and building societies are seeing an increase in mortgage enquiries from UK expat overseas due to stalling UK property prices and the decrease in the value of sterling.
The Bank of England’s recent interest rate cut, sterling’s plunge and the post-Brexit stalling of the UK housing market are tempting British expats living and working overseas to cash in on a bargain. The London property market is most affected at present, with the trend beginning to spread to desirable locations in the rest of the country.
5 Aug at 6 PM 2016
Thursday’s Bank of England rate cut to 0.25 per cent is yet another blow for retired expats in EU member states.
Following the continuing impact on currency
exchange rates post-Brexit, the Bank of England’s decision to cut base rates to 0.25 per cent is a further blow to retired British pensioners living in Europe. Most have endured years of low returns and are now faced with significant shortfalls in their monthly budgets.
Financial firms are describing the cut as a painful disaster which will hit at least a million retired...
3 Aug at 6 PM 2016
Post-Brexit blues and other European negatives are encouraging Aussie expats to go home, but increased property purchase red tape is blighting many plans.
Traditionally, Australian expats working for companies in the UK and Europe are most likely to return home permanently during the last quarter of the year. Upheaval in the UK, Turkey’s instability and terrorist attacks in France have all combined to make thoughts of home irresistible, but Australian property enquiries have declined rather than accelerated.
Brokers working for...