Expat Currency News

Latest 10 news items tagged Currency

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...
8 Nov at 6 PM 2016

US expats in Dubai fear Trump victory may harm financial markets

As Election Day dawns, US expat investors living in the UAE worry about the effect on financial markets and the dollar of a Trump victory. Anxiety in Dubai’s expat community over the possible effects of a Trump presidency on the US dollar is ramping up now that the election itself is underway. The UAE dirham is pegged to the dollar, making currency instability likely if the unthinkable becomes a reality. Other are sceptical, claiming the dollar is more likely to strengthen than fall due to the prospect of another US Federal...
28 Oct at 6 PM 2016

Falling pound sees US expats buying into British homes

As sterling’s weakness continues, expats from the USA are increasingly setting up home in the UK. British property prices are falling, and the post-Brexit decline in the value of sterling is making homes in the UK even more affordable for those buying via foreign currency transfers. More than 200,000 Americans are already living and working in the UK, with a growing number looking to buy real estate at bargain prices. Since the end of June, real estate agents in attractive parts of the UK have noted a considerable increase in...
26 Oct at 6 PM 2016

Expats in Asia about to feel the cold winds of Brexit

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

US expats hit by Merrill Lynch brokerage account closures

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

Bad news for expats as Singapore labour market shrinks

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

British expats across UAE still cashing in on weak sterling

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

Brit expats in UAE unfazed by falling pound

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. One...
10 Oct at 6 PM 2016

Sterling crash crushes retirement dreams for thousands of British expats

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

Brexit already affecting Brit expats in France

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...