The Impact of Exchange Rates on Expats
An important aspect of moving overseas is the impact that exchange rates will have on your bottom line. While this is important for all expats, the article highlighted below illustrates how this can significantly alter the lifestyle you enjoy abroad.
The volatility in the valuation of the sterling is having a dramatic impact on the wallets of British pensioners living in Europe, according to the article on Telegraph.co.uk.
“Mark Bodega, director at HiFX said: ‘In the economic slowdown, everyone is feeling the pinch. However, Brits living in Europe and receiving a fixed income in sterling are being hit particularly hard. In the past two years, we have seen unprecedented volatility in the currency markets with the value of sterling fluctuating by over 30 per cent against the euro.’”
As always, do you homework and do your best to explore various service providers to examine all of your options! Every situation is different so figure out what will work best for YOU!