'Brits should consider foreign exchange rates'

As the recession deepens Brits planning on moving abroad have been advised to consider foreign exchange fluctuations.

Peter Ellis, finance expert, recently pointed out that the economic slowdown had raised the costs of living in popular expat destinations.

For example, France and the US have seen the cost of living rise significantly in the last six months.

Mr Ellis encouraged potential expats who plan on using foreign exchange services to consider the rates of their chosen country and how this may affect their lifestyles in the long term.

"When considering a move abroad it is important to consider not only current exchange rates, but also any likely future currency changes and the cost of living in your preferred country," he said.

The expert added that the cost of living in Canada had increased by just three per cent since November.

Another destination proving a hit with Brits due to its favourable foreign exchange rate is Sal in Cape Verde, according to Cape Verde Property.

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By John Mills.