Expat Currency News
Latest 10 news items tagged Currency
6 Dec at 6 PM 2013
Having moved in 2013 from 31st place last year to 30th, Singapore is still well down from the leader, Caracas, and price rises in the city state have slowed in recent months.
The results of ECA International’s latest Cost of Living survey also revealed that Singapore had slipped in the regional ranking from 8th to 9th, placing it behind Hong Kong for the first time in three years. ECA’s surveys are regarded as accurate due to the company’s position as providers of information and knowledge to businesses with employees on overseas...
4 Dec at 6 PM 2013
Much has been written about the desirability of transferring an expat retirement pension to a QROPS, but what if you’re living in a country which has no listed providers?
Around 180 countries are not represented in the global QROPS market place with its over 3,000 pension funds, giving rise to worries amongst retirement savers who wish to invest. The solution for many would appear to be a ‘third-party QROPS’, although the same care should be taken as regards checks and balances, small print and the legality of the FA who’s...
25 Nov at 6 PM 2013
Although QROPs are still regarded as a good way to avoid expat currency
exchange issues, there have been many changes since the 2012 clampdown by HMRC.
Experts in the field of QROPs are suggesting that the latest delisting of Malaysia and Bangladesh from the HMRC-approved countries list may be a hangover from the late 2012 policy shakedown. However, much has changed since then, although it’s not yet clear that investors have benefitted.
The 2012 new legislation put forward by HMRC saw pensions advisors given clear-cut product...
13 Nov at 6 PM 2013
According to a major investment bank, the traditional expat life for senior executives abroad is shrinking fast as assignment become shorter and perks are cut.
Investment experts at Coutts Asia and Middle East are having to deal with executive-level clients’ complicated tax planning as assignments diminish from decades to a few years and rewards are slashed. Shorter contracts are now the norm, with countries such as Singapore now preferring to employ domestic staff.
Expats working abroad are increasingly unable to commit to a...
12 Nov at 6 PM 2013
fluctuations since the 2008 financial crisis have hit British expats all over the world, but retirees in Canada have been the worst sufferers from the falling pound sterling.
Taking the UK state pension as it was in April 2007 as a benchmark, foreign exchange expert have calculated the losses to British pensioners in a number of worldwide destinations. At that point in time, sterling was strong against a range of currencies, and bought 2.29 Canadian dollars.
Six years later, the exchange rate has fallen to 1.65 CA$ to the...
1 Nov at 6 PM 2013
Expats living in financially-troubled Cyprus may be relieved to hear that the process of undoing the currency
controls imposed last spring in order to prevent the collapse of its banking system may soon be complete.
Whilst presenting the government’s budget statement for 2014, the Cypriot finance minister Harris Giorgiades had warned that the year to come would be extremely difficult for residents of the popular holiday island. Some months in, a number of the imposed currency
controls have been scrapped, and all the measures...
30 Oct at 6 PM 2013
Retiring overseas on a pension from the home country can be a daunting business due to the effect of currency
fluctuations on a fixed monthly amount.
Most pensions need to be paid into bank accounts in retirees’ new countries of residence, leaving the recipients open to the vagaries of currency
fluctuations as well as excessive inter-bank charges. Savings invested in home country accounts give little help as rates are at an all-time low and not expected to increase in the near future.
British expats living in Eurozone states...
8 Oct at 6 PM 2013
Cynical offshore building societies and banks, once seen by expat savers as a safe haven with fair returns, are now leaving their customers high and dry.
Expat savers, especially those living outside the EU, have already seen their currency
exchange rates fall and bank charges increase, and are now seeing their offshore savings rates drop to an all-time low. Many banks are simply closing savers’ offshore accounts with little notice, and others are paying interest at less than onshore rates.
The best, if that’s the word, rate...
2 Oct at 6 PM 2013
Britons living overseas are fighting shy of investment opportunities in th8ier country of origin, preferring to invest their money in their countries of residence.
Domestic stock markets in a number of popular expat destinations are being favoured over and above the FTSE by almost a third of British investors living overseas, according to a new study. A Lloyds Bank International survey found that Britons in the USA, Germany and Canada had more confidence in the outlook for the local economy than in that for the UK and are betting on...
25 Sep at 6 PM 2013
After a good while spent lurking at the back end of the currency
pack, the pound sterling is racing back to life against major currencies, spurred on by positive economic news.
The summer slump in sterling exchange rates may have pleased exporters but it did nothing for holidaymakers and expats who saw their regular pension transfers dwindling monthly. More promising economic indices over the last several weeks have seen the British pound regain its position as the top-performing major currency
over a period of six months....