Expat Currency News

Latest 10 news items tagged Currency

11 Dec at 6 PM 2019

Expats in UK getting more bangs for buck due to sterling crash

The impact of the UK’s Brexit chaos on sterling as well as the cost of living has resulted in boom time for foreign professionals working in London as the shrinking pound continues to provide gains for expats paid in their local currencies. Expatriate professionals living and working in the capital are getting an increased amount of bangs for their home currency bucks due to sterling’s continuing fall against a basket of other currencies. The current report from ECA International also notes British companies wishing to reassign...
6 Dec at 6 PM 2019

Brit expats fearing further sterling falls if election brings hung parliament

British expats living overseas could see yet another sterling crash if a hung parliament is the result of the upcoming general election. UK expats living on their state pensions in Europe and other favourite retirement destinations are having a tough time since the pound fell against a basket of other currencies including the Euro, the US dollar and several Asian currencies such as the Thai baht. Any further devaluation of sterling could mean elderly expats are forced to choose between paying rentals, service bills and medical costs...
19 Nov at 6 PM 2019

British building society to allow foreign currency deposits on expat mortgages

A British building society is now accepting deposits on expat mortgages made in foreign currencies. The Ipswich Building Society’s latest move may well be of interest to UK expats living and working overseas whose savings are held in the foreign currency of their present locations. Previously, only the pound sterling was acceptable, closing off the use of expatriates’ savings to purchase a UK property, especially if their present countries of residence have inconvenient currency regulations. British nationals living and...
30 Oct at 6 PM 2019

New study reveals Prague stores are cheating expat customers

A new study has revealed some 20 per cent of expats in Prague are regularly cheated by local grocery stores when buying foodstuffs. The study, undertaken by the Czech Journal of Behavioural and Experimental Economics, was published in the association’s journal, thus confirming the suspicions of a vast number of expatriates in the city. Some 259 local grocery stores were investigated, with the assistance of expat customers posing as new arrivals unfamiliar with the local currency. Shopping during both the morning and evening...
16 Oct at 6 PM 2019

Slump in expat arrivals hits Thai condo market

The soaring baht and a dearth of expat arrivals have hit hard on the country’s condominium market. Real estate agents across Thailand are hunkering down and hoping to survive what one developer is calling the most severe situation in the past 10 years. Prices have slumped during 2019, mainly due to the continued rise in the baht and a strong fall in the numbers of Chinese and Western expats arriving to work or retire. Almost half a million residential condominiums both in Bangkok and other major cities were left unsold in 2018,...
14 Oct at 6 PM 2019

Expat pension schemes well prepared for Brexit chaos

Over 50 per cent of pension schemes are now considered safe from the after-effects of Brexit. A major concern for British expats living overseas has been the Brexit effect on their pension schemes, but the majority of schemes recently surveyed are well prepared for any fall-out. Just 20 per cent of the total numbers of providers believe Britain’s exit from the European Union may cause an increase in red tape and additional costs, with over half of existing schemes having taken measures to mitigate any risks. As previously...
4 Oct at 6 PM 2019

Expat retirees in Thailand hard hit by strong baht

As the Thai baht gets ever stronger against Western currencies, more and more expatriates are feeling the pinch. Thailand has been perennially popular with expat retirees from the Western hemisphere, but the inexplicable rise in the value of its baht currency is wrecking the carefully-calculated financial strategies of a good number of retirees dependent on monthly pension transfers from the home country. For British long-stay retirees, it’s even worse, as their pension payments were frozen at the rate current when they left the UK....
1 Oct at 6 PM 2019

Would-be Brit expats urged to check their destinations for frozen pensions

Would-be British expat retirees are being urged to check their favoured destination as to whether it’s subject to frozen UK pensions. As Brexit day approaches yet again, many Brits are finalising their plans to leave the UK to its own devices and settle down for a comfortable retirement elsewhere in the world. Many will be relying on the British state pension for their everyday needs, even although it’s now considered ungenerous at best. In the rush to leave, it’s possible a good few haven’t taken into account the harsh fact...
26 Sep at 6 PM 2019

Hong Kong-based expats still investing in UK buy to lets

Over the past several years, the numbers of expats in Hong Kong investing in British property has grown substantially. Nowadays, the idea of buying a property in Hong Kong as an investment is declining due to the island’s incredibly high real estate prices, with a basic home priced at almost 20 times the average local salary. As a result, home ownership totals on the island are some of the lowest in the world, leaving would-be expat investors looking elsewhere for affordable buy-to-lets. Due to Brexit, UK property prices are in...
25 Sep at 6 PM 2019

Does the ongoing Brexit chaos affect Brit expats in Thailand?

Without a doubt, Brexit has become a disaster for British expats living anywhere in the EU, but how is it affecting those who chose Southeast Asia as their destination? The political turmoil caused by what was sold to the general public as a non-binding advisory referendum hasn’t just resulted in expat dreams being shattered all across Europe, it’s also hurt UK nationals living, retiring or working in the rest of the world including Southeast Asia. During the past three years, the value of sterling has fallen dramatically,...