Expat Exchange Rates News

Latest 10 news items tagged Exchange Rates

22 Jun at 6 PM 2017

Shifting global economy good news for expat living

The oil price crash combined with increasing global nationalism over the past year has caused the global economy to shift, thus decreasing the cost of living in London and other expensive expat destinations. As a result of the global changes, the latest survey of the world’s most expensive cities has produced some surprising results indicating dramatic cuts to the cost of living in London and other major world cities. In the majority of cases, the values of local currencies have tanked against foreign currency rates, with expats...
20 Jun at 6 PM 2017

Brexit impact on expat property owners

Brexit negotiations are now underway, but a lack of first-hand information on the UK government’s position is weighing heavily on UK expat property owners in EU member states. Divorce talks between the UK and the EU are now ongoing, with Brexit Secretary David Davis stating the UK is seeking a ‘deal like no other in history’ – whatever that may mean. The plight of EU and UK expats is expected to be top of the agenda, but the effect of Brexit, whether hard, soft or somewhere in between is anyone’s guess. Fear of the unknown...
9 Jun at 6 PM 2017

Study shows UK expat professionals happy to stay overseas

A recent study has revealed only one in every 10 British expats living overseas has any serious intention of returning to the home country. The survey’s results showed the majority of expatriate Britons had made the decision to leave due to relocation by their company or the desire to start a business overseas. No mention was made of the hundreds of thousands of retirees who left for a better quality of life in a warmer country, very few of whom, it would seem, have any intention of returning to a post-Brexit world. Respondents...
8 Jun at 6 PM 2017

Plunging pound helps reduce EU expat living costs

The UK’s cost of living for EU and other expats drawing in money from foreign accounts has fallen dramatically since the Brexit referendum. A new global cost of living survey has seen the plunging pound sterling bringing benefits for expatriates paid in foreign currencies. UK cities are now the cheapest as regards the cost of everyday living for ten years or more, dropping to 68 places lower in the global survey. Formerly placed high in the listings of the top 100 most expensive cities, London’s ranking of 132nd is an all-time low,...
18 May at 6 PM 2017

How Brexit will affect finances for Brits overseas

With so much uncertainty as regards the Brexit effect on freedom to live and work in the EU, a shift of expat focus to the financial consequences of a hard deal can at least help with contingency plans. Basically, the major effect on expat finances is certain to be the fate of sterling once Brexit becomes an uncomfortable reality. If you’re planning to return to the UK, exchange rates will make no difference to your monthly state pension, but if you’re determined to stick it out in Europe by whatever means necessary or are...
12 May at 6 PM 2017

Expat tips for saving money whilst working overseas

Many would-be expats accept overseas positions as it gives a sufficiently increased salary to be able to save money during the term of the contract. One of the best reasons for moving to an overseas job on a fixed term contract is the opportunity to save a good deal of money due to an increased salary and benefits such as paid accommodation and schooling for your children. Many expat professionals return home with a substantial increase in their bank balance, but many more get caught up in a lavishly luxurious lifestyle, thus wasting...
11 May at 6 PM 2017

Foreign finances and FATCA for US expats

American expats are far moré likely to up sticks and move between various international destinations than other nationalities, but managing finances can be tricky, especially where taxation is concerned. The result of this constant sampling of new destinations can result in a variety of bank accounts in different countries and currencies, causing headaches when it’s time for the annual tax return. The introduction of the dreaded FATCA has made it even more difficult, as an unintended mistake can result in horrendous fines. However...
1 May at 6 PM 2017

Alternatives to pension plans for disenchanted expat investors

Times are changing as regards planning for retirement, with actual pension plans beginning to lose their popularity due to government-initiated rule changes and media exposure of unsuitable products and even scams. DIY investment is a scary thought for many expat retirees, mostly due to its jargons and the need to study before taking major plunges. However, retirement doesn’t have to mean brain death, and researching into investment possibilities can be far more interesting than learning a new language. The added bonuses are saving...
25 Apr at 6 PM 2017

How to avoid common expat financial mistakes

Wherever in the world you’re planning to go and whatever your financial status, there are common money-related mistakes made by almost all expats when they move overseas. Obvious financial must-haves and must-do’s aren’t included here, as most expats are aware of the need to save as well as spend, plan for retirement and allow for unlooked for medical emergencies by having private insurance. Unfortunately, ignoring the less obvious errors of judgement can easily lead to money problems for even the most careful expatriate....
24 Apr at 6 PM 2017

Boarding schools versus international schools for expat children in UAE

Gone are the days when almost all expat professionals working in the UAE sent their children to overseas boarding schools, but are the emirate’s international schools a better and cheaper option? Although boarding schools are no longer a necessity for expat parents wanting the best education for their kids, it’s a fact that one attraction of an overseas education is the freedom it gives to its students and their parents compared with the restrictions of living in the UAE. Surprisingly, a UK boarding school education can also give...