Archived posts for April 2010

The value of sterling rose on the currency exchange markets today (April 30th).

Following some progress on Greece's fiscal debt crisis, the UK currency increased against the dollar, as did the euro.

Company profits are being affected by currency exchange rates, it has been suggested.

Drilling company Helmerich & Payne and beauty conglomerate Avon Products have both released recent profit reports revealing substantial losses attributed to a currency devaluation.

The number of people making international money transfers to Spain could increase as one of the country's towns has announced major plans for redevelopment.

Angeles Munoz, mayor of Marbella, told Overseas Property Professional (OPP) that she had grand plans to reinvent the city.

The fact that the UK can chose to devalue sterling on the currency exchange markets could help the country to avoid the same fate as Greece, it has been claimed.

Government debt problems recently led ratings agency Standard & Poor's to downgrade the Mediterranean country's credit rating to 'junk' status.

International money transfers could help buy the perfect foreign investment property.

Britons who are considering buying an investment property have been advised to make sure that the house is accessible to transport links.

The currency exchange markets have been affected by developments in Greece's debt crisis.

Rating agency Standard & Poor's this week downgraded Greece's debt rating from to BB+ from BBB-, effectively declaring any bonds as 'junk'.

Demand for international money transfers to Portugal may rise as the country continues to be a top destination for overseas property-hunters.

The southern European nation is a firm favourite with people looking to purchase a home abroad, according to KBS Property Investments.

Foreign exchange trading may be implicated after ongoing uncertainty over the strength of the euro.

Gains following a one-year low proved to be short-lived today (April 27th), something that has been attributed to the economic crisis in Greece, Reuters reported.

Foreign exchange trading may be implicated after ongoing uncertainty over the strength of the euro.

Gains following a one-year low proved to be short-lived today (April 27th), something that has been attributed to the economic crisis in Greece, Reuters reported.

A hung parliament would be bad news for both sterling and the stability of the financial markets.

In his column for MarketWatch, David Marsh this is a position being taken by the Conservatives.

Mr Marsh attempted to counter this view by arguing that the pound will remain one of the world's stronger currencies over the next six months, unlike the euro which has started falling in value.

Foreign money exchanges will be cheaper today as the value of euro plummeted to a one-year low after Greece was downgraded by Moody's.

The credit agency changed its rating for the Mediterranean nation after it emerged that Greece's budget deficit stands at 13.6 per cent of GDP, higher than previously thought.

Money transfers could be in demand after a journalist specialising in the property sector predicted that an increasing number of Britons are likely to move overseas in the near future.

Countries such as France, Spain and Portugal will be popular destinations for emigrants in the coming years, said freelancer Marc Da-Silva.

David Miliband has said refused to comment on rumours that Labour would impose taxes on expatriates if the party is re-elected next month.

The foreign secretary told Arabian Business that tax matters were an issue for the chancellor of the exchequer to deal with and declined to comment further.

David Miliband has said refused to comment on rumours that Labour would impose taxes on expatriates if the party is re-elected next month.

The foreign secretary told Arabian Business that tax matters were an issue for the chancellor of the exchequer to deal with and declined to comment further.

A growing number of people from abroad are showing an interest in the UK's property market, it has been claimed.

Currency exchange rates have been held responsible for the increase, which was reported by whitehot property.

A growing number of people from abroad are showing an interest in the UK's property market, it has been claimed.

Currency exchange rates have been held responsible for the increase, which was reported by whitehot property.

Making an international money transfer in order to set up a life abroad could lead to higher earnings and a better quality of life, it has been suggested.

The Natwest IPB global study of British expatriates has revealed that Brits living abroad tend to enjoy higher salaries and a more balanced life.

Currency exchange markets and the value of the pound will level out despite fears over a hung parliament, economic analysts have suggested,

The past week saw the pound dip against the other major currencies as a television debate between the three main political leaders in the UK resulted in even more varied election polls.

International money transfers to Dubai could be on the rise as a recent report has revealed the likelihood of a decline in property value in the emirates.

According to the Landmark Advisory, property in both Abu Dhabi and Dubai is likely to become more stable over the coming year.

This is due to the construcion of 15,000 new units.

Jesse Downs, director of research and advisory services at the Landmark Advisory, commented: "In Abu Dhabi, much of the new supply expected for delivery this year will rejuvenate a market that has a low average standard of quality for existing housing supply."

She added: "About 5,000 of these residential units will be delivered in the Investments Zones, like Marina Square, and we expect most of the hand-overs to be concentrated in [the third quarter of] 2010, which will result in a few key trends."

In addition, the levelling off of the market could renew interest from abroad.

Click here to make an international money transfer

Posted by Sarah Pitton

International money transfers could prove useful for young people considering moving abroad.

A recent survey conducted by Aviva has revealed that 55 per cent of UK workers aged between 18 and 30 would consider living aborad on a non-permanent basis.

However, with currency exchange rates not in favour of sterling, getting the best rates on currency exchange could prove to be vital for these young people if they choose to send some of their earnings back to the UK.

Andrew Turner, international strategic development manager at Aviva, said that there were other important areas which young people also need to consider.

"Worryingly, one third (34 per cent) of young workers considering 'semi-grating' [emigrating on a non-permanent basis] told us they wouldn't consider it important to take out additional medical insurance," he said.

"The danger is that, should the worst happen, those people could find themselves in unfamiliar territories, often not speaking the local language, not knowing how to arrange medical treatment or indeed being able to pay for it."

Click here to make an International Money transfer

Posted by Eleanor Ward

Recent statistics have revealed that Britons are cutting back on the amount of money they spend overseas.

Currency exchange rates could be responsible for the four per cent decline revealed by the Office for National statistics in Brits' spending abroad.

Expenditure reached £7.4 billion in the three months to February.

Currency exchange rates for the pound have remained low in the run up to the general election due to uncertainty over the UK's economy.

This has left Britons travelling abroad with fewer euros or dollars for their pound than they would have done when exchange rates were better.

However, the number of people who are visiting the UK from abroad is on the rise.

Figures showed that 7.5 million overseas visitors came to British shores during the three months to February - a two per cent increase on the previous three months' levels.

Currency exchange rates mean that people coming to the UK from eurozone countries will get a good deal on their foreign currency exchange.

Click here to see how much you can save with HiFX's Foreign Exchange services

Posted by Sarah Pitton

Sterling has risen on the currency exchange markets this morning (April 15th) following a change in a political opinion poll.

An opinion poll conducted for the Sun by YouGov has put the Conservatives in a nine-point lead, the highest gap since the general election campaign began.

Using an independent foreign exchange broker to search out the best foreign exchange rates could save couples money when planning for a wedding abroad.

According to the Marriage and Wedding Survey, commissioned by MORE Magazine this month, the average wedding comes in at around £7,500.

Currency exchange rates have led to four-fifths of overseas property owners witnessing an increase in maintenance costs for their home over the past year.

Research from HiFX revealed that 21 per cent of these people are now struggling to meet the increased costs.

An average overseas home owner in France and Spain transferred £10,000 a year to meet maintenance costs two years ago, the study found.

However, today, households need to move £11,896 to meet the same costs due to the weak pound.

To combat these rising costs, Mark Bodega, director at HiFX suggested: "People making regular currency transfers should set up a Regular Payment Abroad plan with a currency broker that allows you to lock into an exchange rate for up to 12 months ahead so you know know exactly how much is being transferred every month."

He added that this plan can also save "forking out on commission and transfer fees" as banks "typically charge up to £30 as a transfer fee on each and every transaction".

Click here to make an International Money transfer

Posted by Eleanor Ward

Interest in buying property overseas is waning, according to one expert.

However, an international money transfer could cut down costs sufficiently to tempt Britons back into moving.

Britons are spending an increasing amount of money overseas, according to a report by the Payments Council.

Better rates of currency exchange through an independent currency brokerage could reduce the £32 billion which Brits spent overseas last year.

Bank cards and ATMs were reportedly the most used methods of payment, with one-fifth of all money spent abroad being drawn from foreign cash machines.

However, with banks' foreign exchange charges coming in at an average of four per cent per transaction, this way of paying could soon add up.

Money-conscious Britons who are keen to head abroad may also be interested in a recent report from the Post Office which revealed that Prague is the best bargain city break.

The eastern European city offered an average weekend trip at almost two-thirds less than an equivalent break in New York, even when the poor sterling exchange rate was taken into account.

Click here to see how much you can save with HiFX's Foreign Exchange services

Posted by Sarah Pitton

A recent survey has revealed that more and more people are likely to have to work on international assignments.

The PricewaterhouseCoopers report found that the number of people working away from their native country has risen by 25 per cent in the past decade.

An expert on expatriate lifestyles has suggested that the poor currency exchange rate for sterling is having an "ever-increasing" impact on the lives of Britons abroad.

However, Rhiannon Davies, co-founder of Shelter Offshore, said that international money transfers through independent currency brokers could save expatriates money.

She added: "If you move money regularly you can even opt to transfer at a given rate for a fixed period of time, so perhaps you can fix against further future devaluations of the pound if you fixed at today's exchange rate for all your transfers for a year maybe."

Ms Davies' comments are likely to ring true with a growing number of expats as a recent survey from the Consumer Credit Counselling Service revealed a 33 per cent year-on-year increase in the number of expatriates seeking debt help.

The pound's currency exchange rate has been held largely responsible for this, though rates are unlikely to show much improvement until after the general election.

Click here to make an International Money transfer

There may be a rise in the number of international money transfers being made to Turkey as more mortgage deals are being offered to foreign citizens.

According to Overseas Property Professional (OPP), international sales in Turkey have seen a surge.

The currency exchange markets have seen the euro perform well this morning (April 12th) due to an agreement over Greece's sovereign debt.

A total of €30 billion has been arranged as a loan package to the struggling Mediterranean country.

Marks & Spencer has claimed that currency exchange rates have had a damaging effect on the company's international sales.

Although the firm performed well overall, the international department suffered, with sales declining by 5.9 per cent in the 12 weeks of trading to the end of March.

Manufacturing levels in the UK have been given a boost by sterling's low performance on the currency exchange markets.

The manufacturing Purchasers Managers Index (PMI) revealed that the reading in March had risen from 56.5 the month before to 57.2.

International money transfers could help to keep costs down for the growing number of people showing an interest in overseas mortgages.

A survey conducted by mortgage specialist Conti, has revealed that March saw a 48 per cent increase in mortgage 'go aheads' for overseas properties.

A growing number of firms appear to be considering moving their operations or their employees abroad, due to the current economic climate in the UK.

International money transfers may prove a vital asset to companies looking to support their workers overseas.

The euro is in a vulnerable position on the currency exchange markets as Greece's sovereign debt problems have exposed some weaknesses in the single currency zone.

Around a decade after its launch, the euro was being considered by central banks across the world as an alternative to the dollar for cash reserves.

Low currency exchange rates between the pound and the major world currencies have lead to a number of financial difficulties for expatriates.

British people living abroad, who still rely on sterling for income, have been forced to tighten their purse strings due to the declining currency.

British citizens who have chosen to make the move abroad have been reminded that they are still entitled to a vote in the UK.

The Foreign and Commonwealth Office has said that every British Citizen who has been registered to vote in the UK within the last 15 years is eligible to vote in the forthcoming general election.

The currency exchange markets have responded to prime minister Gordon Brown's notice that a general election will be held in a month's time.

Mr Brown's formal announcement this morning (April 6th) saw sterling make significant losses on the markets.

A growing number of Britons might be intersted in making international money transfers to Italy as property experts suggest the property market has reached the bottom.

Various estate agents have suggested that Italy's property market is seeing more interest now that prices appear to be at a low.

Sterling rose against the euro this morning (April 1st) after a new opinion poll suggested that the possibility of a hung parliament is decreasing.

It came as a new survey, conducted by Metro newspaper in association with Harris, showed that the Tories were ten per cent ahead of Labour.

Britons planning to head abroad for their retirement have been advised to do their research first.

There are several things people should consider before leaving the country, one of which is value for money offered by exchange rates, said ShelterOffshore.com.