Archived posts for June 2010

The US dollar should be scrapped as the main global reserve currency, a new report from the United Nations has concluded.

Rather than having the 'volatile' dollar playing such a vital role in the global reserve currency exchange, a new system of special drawing rights (SDRs) from the International Monetary Fund should be introduced, the UN said.

Luanda has been named as the most expensive city for Britons living and working overseas.

A new report from consultancy group Mercer revealed that the Angolan capital beats the likes of Moscow and Geneva in terms of cost of living, largely due to the high cost of obtaining secure accommodation and imported food.

The Chinese government has moved to set the currency exchange rate of the yuan at its highest level in five years.

Coming just days after officials stated that they would work to make the yuan more flexible, the country's government set the central parity rate at 6.789 against the US dollar.

Expatriates may want to consider setting up international money transfers to help to fund their health cover.

Writing in the Daily Telegraph, journalist Peter Pallot has warned expatriates that their access to the NHS could be cut.

Sterling's currency exchange rate has levelled off following its gains last week.

Chancellor George Osborne's emergency Budget announcement on June 22nd saw the pound's currency exchange rate increase as investors' confidence in the UK economy was restored due to Mr Osborne's tough stance on the recovery.

The currency exchange rate for the pound reached an 18-month high against the euro yesterday (June 24th).

According to analysts, the good rate of exchange was prompted by the chancellor George Osborne's emergency Budget.

People who are considering moving abroad could save "thousands of pounds" by using the services of a currency exchange specialist.

International money transfers and other services available through an independent foreign exchange broker could dramatically reduce the cost of the move, according to John Greenwood.

Expatriates may want to make use of international money transfers if they find themselves living in a particularly expensive part of the world.

A recent survey from Employment Conditions Abroad revealed that Tokyo is the most expensive city in the world for daily goods and services.

The improved currency exchange rates for sterling could be of benefit to the travel industry.

Frances Tuke from the Association of British Travel Agents has suggested that the improving rate of exchange on the pound will "undoubtedly encourage more people to book an overseas holiday".

Property sales in Spain are on the rise which could signal an increase in international money transfers to the Mediterranean country.

The latest figures from the College of Registrars revealed a 7.04 per cent increase in the number of property sales in Spain during the first quarter of 2010 compared to the same period last year.

Pressure on the currency exchange rate for the pound has been alleviated for now by the Budget announcement.

Chancellor George Osborne announced the emergency Budget yesterday (June 22nd).

A range of austerity measures were revealed, including cuts to child tax benefits and an increase in VAT to 20 per cent.

Increasing numbers of British professionals working in Singapore are looking to benefit from more flexible working arrangements, it has been reported.

A new report from the Straits Times has revealed that demand for Personalised Employment Passes (PEPs) has increased markedly over the past year.

Thousands of British expats could be making use of international money transfers if they become too sick to work overseas.

Newly-obtained figures published by the Daily Mail reveal that around 10,000 expats claimed incapacity benefit over the course of 2009.

Recent developments in the currency exchange markets have made cities in the United States markedly more affordable for British expats, a new report has suggested.

Research carried out by Employment Conditions Abroad found Tokyo to be the most expensive city in the world for expats in terms of the price of day-to-day consumer goods and services.

China looks set to introduce a more flexible system of exchange rate practices in the run-up to the G20 summit in Canada.

World leaders are set to meet in Toronto later this week.

International money transfer could prove popular among luxury property hunters as an event is set to showcase developments abroad.

EPEX will come to Earl's Court exhibition venue between July 11th and 10th this year.

Sterling's currency exchange rate increased yesterday (June 17th) following news that the UK's retail industry is improving.

According to the Office for National Statistics, sales in May of this year were 2.2. per cent higher than in the same month in 2009.

China has been given a deadline by the US before which it must act on its currency exchange practices.

The Asian country has come under heavy criticism for its currency exchange rules.

A growing number of expatriates are choosing to do their grocery shopping online to avoid poor currency exchange rates between sterling and the euro.

The Telegraph has reported that Sterling Shopping, a delivery service set up in 2009, has experienced an increase in the number of people using its services.

Turkey's property market is in "direct competition" with Spain this year, it has been claimed.

The country's "young population, the opening to the east and its competent government" are combining to make it more attractive to overseas property investors, according to the Global Property Guide.

Sterling's currency exchange rate was affected by the latest figures for inflation released yesterday (June 15th).

According to the information from the Office for National Statistics, the Consumer Price Index fell from 3.7 per cent in April to 3.4 per cent in May.

International money transfers could be on the rise as a survey has shown an increased interest in emigrating.

The latest figures from the Office for Budget Responsibility (OBR) show that the UK economy is predicted to grow by less than expected in 2011.

The currency exchange rate for sterling is playing a role in supporting the UK's industry, it has been claimed.

According to the Confederation of British Industry (CBI), demand for UK-made goods has risen due to a weak sterling.

The currency exchange rate between the euro and the US dollar has returned to a more "normal rate", it has been suggested.

Christian Noyer, the governor of the Bank of France, told TV5Monde yesterday (June 13th) that the exchange rate had returned to a level that was more beneficial for Europe.

Britons are showing an increasing interest in breaks in Europe following a recent period of strength for the pound's currency exchange rate.

This morning (June 11th) at 08:15 BST sterling bought $1.473.

A currency analyst has suggested that the Bank of England's decision to maintain the interest rate has not affected currency exchange levels for the pound.

Tom Levinson from ING, told Reuters: "Sterling tends to do well when equities are rising and there's a bit of a softer tone in the dollar today. It's not been affected by the Bank of England."

Bargain hunters looking for foreign property may want to make an international money transfer to the US.

According to the chief executive of Homesgofast.com Nicholas Marr, the country is "presenting a wider range of investment opportunities than ever before".

International money transfers could become popular as it has been suggested that the city is a hotspot for holiday property rentals.

According to Kate Stinchcombe Gillies, head of communications at holidaylettings.co.uk, the city is one of several locations where demand is outstripping supply for holiday home accommodation.

International money transfers to Portugal could become more popular among property hunters who are looking for a countryside home.

According to Jose Luis Borges das Neves from the Beiraneves property agency, a growing number of foreign buyers are looking at areas away from the traditional tourist areas.

Currency exchange rates are increasing the number of overseas property buyers in London.

This is according to a recent study conducted by Savills, which revealed that 55 per cent of demand for buildings in the capital comes from overseas buyers.

Currency exchange rates are likely to have a negative effect on the earnings of one major food retailer.

Burger King has reported that it expects unfavourable currency exchange rates to reduce its profits this year.

International money transfers could save property investors money if they are considering buying up distressed properties.

According to a study conducted by the Royal Institute of Chartered Surveyors (RICS), Ireland and the US are set to see the biggest rises in the number of distressed properties on sale.

Currency exchange rates for the euro have reached a four-year low against the dollar.

The euro fell broadly this morning (June 7th) and tumbled to the low of $1.193 against the US currency at 08:15 BST.

More people may consider making an international money transfer to Saudi Arabia as the country has relaxed its property laws.

According to the Overseas Property Professional (OPP), as of two months ago foreign property buyers have the option to own real estate in the country.

Sterling's currency exchange value has increased against the dollar.

The British pound rose on the back of positive data concerning the state of the UK's housing market yesterday (June 3rd).

International money transfers to Spain could help foreign property buyers to take advantage of the falling prices in the Mediterranean country.

According to the latest figures from the Instituto Nacional de Estadistica, sale prices have fallen by 4.3 per cent over the past 12 months.

Sterling has fallen in value on the currency exchange markets.

According to Reuters, while early trade was up yesterday (June 2nd) it dipped later in the day.

The strong start for sterling followed Prudential's withdrawal from a $35.5 billion deal to buy American International Group's Asian life insurance business AIA.

Sterling has fallen in value on the currency exchange markets.

According to Reuters, while early trade was up yesterday (June 2nd) it dipped later in the day.

The strong start for sterling followed Prudential's withdrawal from a $35.5 billion deal to buy American International Group's Asian life insurance business AIA.

The currency exchange rate on sterling has increased Russian interest in London property, it has been claimed.

Estate agent Knight Frank conducted a study which found that amount of Russian puchases in the England capital increased by 112 per cent during April and May.

The currency exchange rate on sterling has increased Russian interest in London property, it has been claimed.

Estate agent Knight Frank conducted a study which found that amount of Russian puchases in the England capital increased by 112 per cent during April and May.

The export business is benefitting from the currency exchange rate on sterling, it has been suggested.

However, according to Lloyds Banking Group, more companies could take advantage of the weak pound.

Consumers are likely to find themselves with a better currency exchange rate if they prepare their transaction.

Michelle Slade, a spokesperson for Moneyfacts.co.uk, has warned travellers of the financial pitfalls involved in leaving currency exchange to the last minute.

Currency exchange markets have witnessed a drop in the value of sterling this morning (June 1st).

According to Reuters, the pound dipped due to a fall in UK equities prompted by the drop in BP share values after the failure to stem the oil leak in US waters.

Vienna has been named the number one city for quality of living.

People considering making an international money transfer to live abroad may be tempted to explore the Austrian city following this latest news.