Expat Exchange Rates News
Latest 10 news items tagged Exchange Rates
7 Jan at 4 PM 2015
The Norwegian capital Oslo has been ranked as the most expensive city in Europe for expats to live in, according to a recent cost of living survey.
The latest rankings, compiled by ECA International, did not feature any cities in neighbouring Sweden in the top 30, most likely because of the weakening of the Krona.
ECA conducts cost of living surveys twice annually to assist companies in working out allowances for employees while on foreign assignments. The surveys compare like-for-like consumer services and products commonly bought...
26 Dec at 12 PM 2014
The cost of living for expats in the Kenyan capital Nairobi has increased over the past 12 months, largely due to a hike in consumer goods prices.
The survey, published by service provider for staff assignments abroad ECA International, listed Nairobi as the 24th most expensive city to live in Africa and 177th worldwide. Last year’s survey ranked the city 25th and 183rd most expensive respectively.
The surveys by ECA are intended to help companies work out the cost of living in different countries so they can decide on allowances...
24 Oct at 6 PM 2014
One of the most trying aspects of living overseas is currency transfer between your home country or offshore bank account and your account in your host country.
Whether you’re retiring overseas, working for a company which pays salaries from the UK, freelancing, or just touring around the places you’ve always wanted to see before you make a decision about permanent residence, the stress and expense of currency transactions is often a negative experience. However, new technologies and several innovative start-ups are about to...
1 Aug at 6 PM 2014
Expat pensioners living in Asian destinations are enjoying far better exchange rates
than they were a year ago, but is the trend set to continue?
Britain’s strengthening recovery, rumours that the Bank of England is close to raising the base rate after its six years in the doldrums, and the European Central Bank’s growth policy have uplifted pension payments in Asia. However, expat pensioners are more at risk should a downtown occur than any other expatriate sector.
The 2008 financial crash and its resulting global recession...
1 Jul at 6 PM 2014
The ongoing scandal concerning mis-sold mortgages on expat homes in Cyprus has affected thousands of property owners on the island, but now looks as if it’s coming to an end.
Rather than risk a UK High Court judgment against them, the Cypriot Alpha Bank and a consortium of 20 property developers have settled all claims. The good news came just a day before the court hearing was due to begin, leaving the thousands of expats terrified of losing their homes hoping the nightmare is over.
According to lawyers, part of the settlement...
27 Jun at 6 PM 2014
However confusingly expat IFAs describe QROPS, the original intent in 2006 was simple – to comply with EU rulings giving expat pensioners living permanently overseas easier access to their cash.
No mystery there, but many pension savers seem to have lost touch with this basic truth. QROPS have nothing to do with tax avoidance, early access to funds or any other convoluted reason IFAs in expat destinations may dream up.
QROPS also benefit overseas workers nearing retirement who have worked in the UK over time, thus building up...
25 Jun at 6 PM 2014
Every year, around 150,000 UK citizens move overseas to live and work, with most still keeping financial and familial links with the home country.
Transferring money is a necessary evil for a majority of expats, whether it’s pension payments, mortgages on property at home or abroad or interest payments on UK or offshore investments. Between the relatively high costs of transfer and the threat of negative currency fluctuations, it’s one of the least favourite of all the practicalities of living overseas.
12 May at 6 PM 2014
Surveys show that many expats working abroad, as well as those intending to retire overseas, are not considering all options as regards investing their pension pot.
Now that annuities have been exposed as a poor deal and there’s no restriction on taking out your savings, moving your pension offshore via a QROPS is an important part of today’s retirement strategy. Standard UK pensions are restrictive as regards choice of investments, with QROPS offering far more funds, commodities and markets in more varied currencies than exist in...
29 Apr at 6 PM 2014
Tens of thousands of UK expats in Spain returning home after losing money on their retirement villa sales are telling tales of etirement dreams turned into nightmares.
The 2008 financial crash was the beginning of an undreamed of nightmare scenario for UK expats across the world as their investments failed and their pensions were affected. Thousands in Spain, however, are living in even more misery as the country’s economic chaos and property price crash has wrecked the value of their dream homes.
One such retired couple, the...
17 Apr at 6 PM 2014
As the pound strengthens along with the recovery in the UK, a newly-introduced online currency index will help travellers and expats to select the countries with the most favourable rates.
Fluctuating currency rates
are an endless worry for most expats on UK pensions or with investments paying interest in sterling. Over the last year, the winners have been those living in South Africa, Turkey and Thailand, with the strong pound and weakness of local currencies granting them between 20 and 30 per cent more spending power.