Expat Currency News

Latest 10 news items tagged Currency

6 Aug at 6 PM 2019

Expat investors welcome laws against illegal fixing of currency rates

Investors both in the UK and overseas are waiting for a court date for their legal challenge. Foreign exchange traders are facing a legal challenge for compensation after the discovery that secret rate-fixing on a major scale has been taking place in online chat rooms. European Union investigators have uncovered the use of online chat forums by employees of major banks in order to secretly manipulate and fix currency exchange rates to the detriment of users. The EU has issued fines totalling £1 billion to international banks...
5 Aug at 6 PM 2019

Hong Kong expat banking community decimated by job cuts

Fewer opportunities for Hong Kong’s laid-off expat bankers are destroying the dream. Once a prime location for expat bankers, Hong Kong is now immersed in seemingly endless violent protests as well as an employment desert for expat bankers recently laid off by their employers. Reasons for the banking sector’s shrinking labour market include increasing demand for Mandarin speakers and cost-cutting by international banks located on the island. Deutsche Bank’s recent announcement of a swathe of cuts made the situation even worse...
31 Jul at 6 PM 2019

Brit expats in UAE taking advantage of sterling crash to repatriate savings

Due to the unprecedented fall in the sterling exchange rate, a good number of UAE-based Brit expats are sending money back to the UK. British expats living and working in the UAE are now moving savings and spare cash back to the UK, thus taking advantage of the worst exchange rate in a decade or more. As sterling sinks ever lower on the threat of a broken economy due to a no-deal exit from the EU, increasing numbers of British expatriates are cashing in on the once-in-a-lifetime opportunity. For British professionals who arrived in...
30 Jul at 6 PM 2019

Brit expat woes increase as sterling dives again

The battered pound is now causing genuine hardship for British expats living in Europe and across the world, with gloomy predictions of further falls in the event of a Johnson-engineered no deal Brexit. Over the past several years, the referendum itself, Brexit predictions and parliamentary chaos had already caused a drop in sterling versus the euro and other world currencies, but the selection of Boris Johnson as Britain’s prime minister has forced the currency to a two-year low due to his focus on a no deal Brexit. At this point...
19 Jul at 6 PM 2019

Asia now a hub for expats pursuing crypto dreams

Asia is now the world’s favourite hub for expats’ crypto careers. Expats from the West are now congregating in Asian countries in the hope of furthering their crypto careers. According to those on the scene, hopefuls from the USA, the UK, Australia and Europe are arriving in far greater numbers than ever before, all working to grab a slice of the amazing opportunities on offer, with Crypto companies springing up like mushrooms to boost this emerging market. Unlike in other world Crypto communities, the Asian version seems to...
19 Jul at 6 PM 2019

Private bankers overwhelmed as Hong Kong millionaires transfer fortunes overseas

As the riots and marches continue in Hong Kong, jittery millionaires are transferring their cash to Singapore’s safe haven. Wealth managers and private bankers are being overwhelmed by enquiries as Hong Kong’s most wealthy residents struggle to get their cash out of the former British colony, even although the controversial extradition law seems to be dead in the water. One Singaporean wealth manager who prefers to remain anonymous told the media his firm had received a sizeable flow of new money originating in Hong Kong over the...
19 Jul at 6 PM 2019

Inflation in Europe stays low but currency exchange rates have expats worried

Expats living in Europe are seeing low cost of living increases. Expatriates living and working in the European Union are facing an average cost of living increase of 1.6 per cent in both May and June this year. According to the European Central Bank, it’s targeting an increase of just below two per cent, with European parliament members now saying they’re ready to support increasing inflation by means of raising interest rates. Those living in Romania have seen the highest inflation at 3.9 per cent, with Hungary coming in on...
12 Jul at 6 PM 2019

Expats in Prague warned over deceptive currency exchange offices

Recent reports are warning expats in Prague that local currency exchange offices are not complying with new consumer protection laws. Despite the recent introduction of harsh new consumer protection laws, it seems a number of currency exchange firms are continuing with their deceptive practices in spite of being caught and fined by the Czech National Bank. The new laws were brought in on April 1 following a series of videos uploaded to YouTube by an online reporter exposing the exchange offices’ deceptive practices. The reporter,...
5 Jul at 6 PM 2019

Good mortgage news for expat property buyers in Spain

Spain’s new laws on mortgages are great news for those wishing to purchase property and those who’re already homeowners. Up until now, the popular expat destination’s mortgage laws favoured the banks in a manner which penalised borrowers, but new EU rules intended to align member states’ laws have forced the Spanish government to adjust its position in favour of buyers. One rule in particular is long overdue, as it protects homeowners in temporary financial difficulties from having their homes repossessed as a result of late...
27 Jun at 6 PM 2019

Is Dublin’s rising cost of living discouraging expat arrivals?

This year’s Mercers’ cost of living survey placed Dublin in 43rd place, with the city losing 11 places over last year’s study. As inflation and poor currency exchange rates stalk the expat world, those expatriates using surveys to decide on their next destination are in for a number of shocks. Over the past three years, Dublin had become a favourite for UK refugees from Brexit and the resulting broken economy, but the dramatic fall in the value of sterling and the city’s increasing property rental prices may now be enough to...