Expat Foreign Exchange News

Latest 10 news items tagged Foreign Exchange

17 Apr at 6 PM 2014

Strong pound boosts expat spending power in South Africa, Turkey and Thailand

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. In...
12 Nov at 6 PM 2013

Expat retirees in Canada hit hardest by decline in sterling

Currency 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...
26 Feb at 6 PM 2013

Expat currency trading is high risk for the inexperienced

With offshore and onshore banks cutting their interest rates seemingly on a weekly basis, many expats and offshore savers are giving up on chasing the best rates. Tracking currency movements via offshore banks offering accounts in US dollars, sterling and Euros with the option of switching currencies may seem to be the upcoming way to make money from savings. However, experts in currency trading are warning that it’s not for the faint-hearted or the inexperienced. It sounds simple – for example, if your savings are in Euros at...
15 Jun at 9 AM 2012

Expat health insurance may rise with Grexit

British expatriates in Greece may see their medical insurance doubling in cost if the country leaves the euro and medical institutions do not cut their charges. Even if Greece’s hospitals do reduce charges substantially, expatriates holding international cover would still collect claims beyond Greece’s borders, which would surely trigger premium hikes. Financial issues for expats in Greece – along with Spain – are making many Britons sell their properties and leave. HiFix, a leading foreign exchange broker, says that 33% of...
13 Feb at 3 PM 2012

Desperate Britons turn to the US dollar

As reported by The Telegraph, Lloyds TSB International has announced a marked rise in savers requesting dollar-denominated accounts. It has now almost doubled the rate it awards on one-year fixed-rate US dollar accounts—increasing from 1.5pc to 2.8pc. Nicholas Boys Smith at Lloyds TSB International says that many wealthy investors banking internationally have lost their risk appetite through 2011, adding that significant inflows of dollar fixed-term deposits are attractive since the currency often performed well during unsteady...