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Latest Finance News related to Foreign Currency

What you should do before repatriating proceeds from your foreign property sale image
. This is because you will need to transfer the foreign currency proceeds of the sale back into pounds. ...
Do you have to pay fees when buying foreign currency?  image
Source : Daily Express [Read Article] Monday 15th of May 2017 12:01:00 AM
. Being charged transfer fees when exchanging your pounds for foreign currency can really eat into how much you ultimately receive – but do you have to pay fees? . ...
What impact could the UK general election have on the pound? image
Source : Daily Express [Read Article] Tuesday 9th of May 2017 01:58:00 PM
....A coalition would have a similar, or worse, impact on the pound depending on which parties are left to form one and how long the process takes. If you need to send money abroad in the near future, a win for the Conservatives would help you get more foreign currency for your pounds, while any other outcome could make your pounds worth less. ...
What’s it like to lose £350m? A rogue trader confesses image
Source : Guardian [Read Article] Sunday 7th of May 2017 08:00:27 AM
.... Stenfors says that this manoeuvre made him feel “sick”. “I had this feeling that there was something really wrong with the system,” he says, and notes that the problems have continued with the massive Libor and foreign currency manipulations. ...
Is NOW the right time to sell your foreign property? image
Source : Daily Express [Read Article] Wednesday 3rd of May 2017 12:00:00 AM
....As a win for Labour or the formation of a coalition would add to the uncertainty surrounding the UK's Brexit negotiations, such an outcome is likely to leave the pound reeling. Another election shocker has the potential to send to the pound back to pre-referendum lows, bad news for anyone needing to buy foreign currency but great news if you have money to move back to the UK. ...
What does the UK election on June 8 mean for your finances if you live overseas? image
....Should polls continue to indicate that Theresa May has a huge lead over Labour leader Jeremy Corbyn, this confidence could push the pound even higher. This would mean you’d get even more for your money when purchasing foreign currency, although those looking to repatriate funds into sterling would get less than they would at the moment. ...
Rock music fan fights Viagogo over sky high concert ticket charges  image
Source : Daily Express [Read Article] Monday 1st of May 2017 12:01:00 AM
....When Clare did get through to Viagogo she was told her tickets were valid for the night and there was a statement on the Arena’s website reassuring people. “But I have gone days without hearing, there’s no real explanation about what has gone on and why I have been charged in a foreign currency,” she says. ...
These are the mistakes everyone makes when buying foreign currency - and how to AVOID them image
. But there are four common mistakes people make when managing foreign currency transfers which could be costing them thousands. ...
What is the cheapest way to send money overseas? How to transfer money abroad image
Source : Daily Express [Read Article] Wednesday 12th of April 2017 04:55:00 PM
....The size of the mark-up they add dictates how good an exchange rate you’re able to receive. Because currency brokers are focussed entirely on foreign currency, they have the scale and resources to offer lower margins than banks, getting you a better exchange rate. ...
Iceland to end capital controls from 2008 financial crisis image
Source : BBC [Read Article] Sunday 12th of March 2017 03:14:37 PM
....For the past year, the government and Central Bank of Iceland have been lifting controls through what they say has been an "incremental, measured process that focused on protecting the currency, addressing a balance of payments problem and tempering shocks to the Icelandic economy". The country has also updated rules on foreign exchange and made special reserve requirements for new foreign currency inflows. ...
Trump's border tax could damage the US a lot more than a wall | Kenneth Rogoff image
.... Unfortunately, as many have pointed out, there is a loose screw in this logic, which is that the US has a floating exchange rate. A stronger dollar – a likely result of imposing a border adjustment tax – makes it cheaper for Americans to buy imports (because a dollar buys more foreign currency); conversely, a stronger dollar makes US exports more expensive to foreigners. ...
The remittances propping up Lesotho's economy image
Source : BBC [Read Article] Monday 27th of February 2017 12:24:35 AM
. As a landlocked country, Lesotho finds itself dependent on its neighbours for trade, foreign currency and even jobs. ...
What the dip in sterling means for your holiday image
Source : Daily Express [Read Article] Sunday 29th of January 2017 12:01:00 AM
....That means you now get an extra €150 for each £1,000 you spend in the eurozone compared to then. He says you will lose even more money by making the mistake of purchasing your foreign currency at the last minute: “If you leave it until the airport you are likely to face the worst exchange rates in the country. ...
China crackdown sends Bitcoin sliding image
Source : BBC [Read Article] Thursday 12th of January 2017 01:04:34 AM
....As a result, some speculate that people in China are using it to circumnavigate strict government rules aimed at preventing money from leaving the country. Currently, there's an annual maximum that people are legally allowed to change into a foreign currency. ...
US charges three foreign exchange traders image
Source : BBC [Read Article] Tuesday 10th of January 2017 11:28:46 PM
....5bn in fines in May 2015, after pleading guilty to conspiring to rig foreign exchange rates. In a statement the US Department of Justice said the three men were charged over their "alleged roles in a conspiracy to manipulate" the price of US dollars and euros in the foreign currency exchange spot market. ...
REVEALED: The tricks to get the best holiday money rates amid a weaker pound image
Source : Daily Express [Read Article] Saturday 7th of January 2017 02:00:00 PM
.... And the service doesn't require any advance payment. If you buy foreign currency with a credit card, cash advance fees at around 2. ...
That was 2016... now what image
Source : BBC [Read Article] Friday 30th of December 2016 04:53:44 PM
....For some, the biggest companies on the market there is another advantage. Many of them - miners and oil producers for example - earn a lot of revenue in foreign currency especially dollars. ...
Your bank savings protected by an extra £10k - thanks to Brexit  image
Source : Daily Express [Read Article] Wednesday 23rd of November 2016 08:16:00 AM
....The proposed change would come into force from January 30, 2017. Danny Cox, chartered financial planner at Hargreaves Lansdown, said: “Setting the level of deposit protection for UK savers based on the exchange rate from a foreign currency on a seemingly random date never made much sense. ...
Savings protection limit to go back up to £85,000 image
Source : Guardian [Read Article] Monday 21st of November 2016 12:39:56 PM
....Savings providers will be given until 30 June 2017 to update their systems and promotional material such as adverts and letters to customers. Danny Cox, chartered financial planner at the independent financial advisor Hargreaves Lansdown, said: “Setting the level of deposit protection for UK savers based on the exchange rate from a foreign currency on a seemingly random date has never made much sense. ...
Pound recovers ground after US election image
Source : BBC [Read Article] Friday 11th of November 2016 12:32:09 PM
....The pound has continued to recover ground following this week's US election result. The news will bring some respite to businesses that import goods, and to holidaymakers buying foreign currency. ...
Egypt allows its currency to float freely image
Source : BBC [Read Article] Thursday 3rd of November 2016 09:09:12 AM
....Egypt has struggled to attract foreign investment since the political turmoil in 2011 during the so-called Arab Spring that saw former president Hosni Mubarak overthrown. The change of regime dented tourism numbers, one of Egypt's most important foreign currency earners, and prompted a general fall in international investor confidence. ...
How could the UK help Nissan remain competitive? image
Source : BBC [Read Article] Friday 28th of October 2016 04:10:08 PM
.... . Its cars are cheaper in foreign currency because of the decline of the pound, though that has raised the cost of imported parts. ...
Egypt seizes 9,000 tonnes of sugar in raids amid shortage image
Source : BBC [Read Article] Tuesday 25th of October 2016 09:48:52 AM
....This crisis comes as President Abdul Fattah al-Sisi's government makes unpopular cuts to a costly subsidies programme and attempts to finalise a $12bn (£10bn) International Monetary Fund loan it sees as key to reviving the struggling economy. A dearth of foreign currency and a sudden suspension of oil aid from Saudi Arabia have also led to the value of the Egyptian pound plummeting on the black market. ...
'Everything is cheaper': Burberry UK sees tourist boom image
Source : BBC [Read Article] Tuesday 18th of October 2016 10:59:10 AM
....The firm, which makes just 15% of its sales in the UK, said the pound's fall would increase full year profit. Patthanan, shopping in Burberry's flagship store on London's Regent Street, is one of the many foreign tourists taking advantage of the fact that they are currently getting substantially more pounds in exchange for their foreign currency. ...
Airport currency exchange booths charging mark-ups of more than 25 per cent image
Source : Daily Express [Read Article] Wednesday 12th of October 2016 09:07:00 AM
....Currency lottery. Travellers who buy their foreign currency at Southampton airport risk feeling short-changed, with Moneycorp offering just €0. ...
Fear of falling  image
Source : BBC [Read Article] Tuesday 11th of October 2016 12:45:43 PM
....Shares in UK companies priced in pounds are now cheaper on the international market, in a sense. Many of the major 100 companies earn most of their money overseas, in foreign currency. ...
Is it time to take profits from surge in equities? image
Source : Daily Express [Read Article] Sunday 9th of October 2016 11:12:00 AM
'Flash crash' image
Source : BBC [Read Article] Friday 7th of October 2016 12:06:25 PM
....20 by the end of 2017. In the short term, we will pay more for our holiday money, receiving less foreign currency for our pounds when we exchange them. ...
IMF warns of financial stability risks image
Source : BBC [Read Article] Wednesday 5th of October 2016 12:46:50 PM
....There is also a warning about Japanese banks and their expansion overseas, which the report says is the result of economic weakness and very low interest rates in their home market. That leaves them exposed to some risk in terms of access to the foreign currency funds they need to maintain that business. ...
Mark Carney describes 'toughest day' as Bank governor image
Source : BBC [Read Article] Friday 16th of September 2016 01:36:20 PM
....The most high profile element involved offering banks the opportunity to borrow up to £250bn extra, both before and after the June vote, to finance their day-to-day operations. The Bank also offered to lend foreign currency to UK banks, if needed. ...
Nigerian economy slips into recession image
Source : BBC [Read Article] Wednesday 31st of August 2016 09:03:14 AM
....But critics say government policies made a bad situation even worse. The decision to delay devaluing Nigeria's currency meant many businesses struggled to get foreign currency to pay for imports, which had a cooling effect on the entire economy. ...
Nigeria banks banned from foreign currency deals image
Source : BBC [Read Article] Wednesday 24th of August 2016 12:21:17 PM
. Nine Nigerian banks have been suspended from foreign currency trading for not paying money owed to the government, a central bank source has told the BBC. ...
Bureaux de change offering €0.99 for £1 image
Source : BBC [Read Article] Wednesday 17th of August 2016 11:50:53 AM
....For the first time in at least three years, British holidaymakers have found that a pound buys less than a euro at some bureaux de change. On Tuesday this week, exchange desks at two airports were offering just 99 euro cents for a pound, according to foreign currency specialists Caxton FX. ...

Iran isn't interested in the truth, law or decency
 image
Source : Telegraph [Read Article] Saturday 13th of August 2016 07:14:07 AM
.... And no matter how much the agencies dress it up, the $400m that has just been paid to Iran by the US, at the same time as five Americans were released from Iranian jails, was just the same. Some $400m in foreign currency, packed onto crates and delivered to Iran on the same day as our hostages being released is a quid pro-quo that bad timing alone cannot explain. ...
Retiring abroad can cost a fortune image
Source : Daily Express [Read Article] Wednesday 10th of August 2016 12:01:00 AM
....” . The immediate fall in sterling against the dollar and euro has made it more expensive to live abroad if you are converting your UK income into foreign currency. ...
Interest rates and you image
Source : BBC [Read Article] Thursday 4th of August 2016 11:35:27 AM
....The decision by the Bank of England has led to an immediate fall in the value of the pound. Although this remains higher than its lowest point of recent weeks, it may mean UK holidaymakers get a bit less for their money when buying foreign currency than they did earlier this week. ...

SNP MSP John Mason still boycotting travel agency over 2014 Scottish independence opposition 
 image
.... I haven't used them since, however, I do not often use travel companies any way. I mostly use them for euros and foreign currency. ...
Former HSBC trader denies currency fraud allegations image
Source : BBC [Read Article] Thursday 21st of July 2016 02:07:52 PM
....Stuart Scott, a former HSBC employee charged with fraud in the US, has said he "strongly denies the allegations". The 43-year-old was once in charge of foreign currency trading at the bank. ...
£1 buys just €1 in some UK airports image
Source : Guardian [Read Article] Wednesday 13th of July 2016 12:12:06 PM
.... The tourist rates offered to those who just turn up at airline booths without pre-booking their holiday currency have long been poor, but appear to have hit a new low. Currency specialist Caxton FX surveyed the walk-up rates at the UK’s biggest airports on Monday and the findings will shock those planning to buy foreign currency this summer. ...
Bank of England was warned about Brexit property fund problems image
Source : Guardian [Read Article] Tuesday 12th of July 2016 09:04:33 AM
.... The Bank also released two paragraphs redacted from the last quarterly meeting in March outlining aspects of contingency planning made ahead of the 23 June referendum. As well as being ready to pump billions of pounds into the financial system, the Bank said “supervisors were engaging with banks, insurers and central counterparties on their contingency plans for risks related to the referendum, including for managing funding and liquidity risks in sterling and foreign currency”. ...
Sterling’s silver lining: Five-minute guide to the falling value of the pound image
....”. Mortgage rates have also fallen sharply making your borrowing costs cheaper, but beware taking out a loan in a foreign currency if you plan to repay using sterling income, as you will be vulnerable to further currency swings. ...
Don’t panic – yet. The Brexit vote has had a surprise effect on pension funds image
....The key message for retirees is to stay calm and avoid taking any unnecessary risks. John Blowers, head of Trustnet Direct, which compiled the figures for Guardian Money, says: “The weak pound means sterling-denominated assets are now cheaper for overseas investors, which is helping support equity prices, while many companies listed in London get a hefty share of their profits in a foreign currency. ...
Thomas Cook suspends online currency sales as demand surges image
Source : BBC [Read Article] Friday 24th of June 2016 12:55:01 PM
....The company suspended the online service to make sure that its counters did not run out of cash. A Thomas Cook spokesperson said: "We have temporarily suspended our travel money website following unprecedented customer demand for foreign currency overnight and this morning. ...
Mark Carney says Brexit contingency plans under way image
Source : Guardian [Read Article] Friday 24th of June 2016 08:37:09 AM
.... But he added that he was prepared to inject an additional £250bn to ensure that financial institutions did not run short of cash during what he admitted would be a period of uncertainty. The Bank has also set up arrangements with other central banks around the world to provide foreign currency to the UK markets should that be required. ...
EU referendum: Statement from Bank of England governor Mark Carney image
....Moreover, as a backstop, and to support the functioning of markets, the Bank of England stands ready to provide more than £250bn of additional funds through its normal facilities. The Bank of England is also able to provide substantial liquidity in foreign currency, if required. ...
Surge in travellers buying holiday money before EU vote image
Source : Guardian [Read Article] Wednesday 22nd of June 2016 01:44:15 PM
. Holidaymakers nervous about what may happen to the pound after Thursday’s EU referendum are rushing to stock up on foreign currency, with the Post Office reporting a 380% surge in online orders. ...
Five-minute guide to avoiding disaster on your holidays image
Source : Daily Express [Read Article] Sunday 19th of June 2016 12:01:00 AM
....Andrew Brown of Post Office Travel Money says holidaymakers like to spend money in local restaurants and cafés to get a real flavour of their resort. “Holiday cash may be stretched so take enough foreign currency to cover the cost of items bought on top of your all-inclusive hotel. ...
GLOBAL ECONOMY FEARS: Soros pumping £23bn fortune into gold ahead of 'impending crash' image
.... . He said: “China continues to suffer from capital flight and has been depleting its foreign currency reserves while other Asian countries have been accumulating foreign currency. ...
George Soros warns Britain leaving could be end of EU image
Source : Guardian [Read Article] Thursday 9th of June 2016 04:50:27 PM
....In recent months the currency speculator has bet that a devaluation of the Chinese currency, the yuan, was inevitable, earning himself a rebuke from the Beijing authorities. “China continues to suffer from capital flight and has been depleting its foreign currency reserves while other Asian countries have been accumulating foreign currency,” Soros said in an email to the Wall Street Journal. ...
Bank of England in preparations for potential Brexit image
Source : Guardian [Read Article] Sunday 5th of June 2016 02:44:02 PM
.... So by announcing it months in advance … we think we’ve avoided that and I think we have,” the governor said. The Bank will also summon the assistance of other central banks – including the European Central Bank and the US Federal Reserve – to provide access to stocks of foreign currency in the event of a run on the pound, a course of action approved by the International Monetary Fund. ...
EU referendum – when to buy your holiday money image
Source : Guardian [Read Article] Sunday 29th of May 2016 10:31:32 AM
.... For others it is the chock of leather on willow. But for those who write about the economy the first sign of spring is when colleagues start asking for advice on when to buy their foreign currency for a holiday abroad. ...
Enjoy your European holiday without surprise bank fees image
Source : Guardian [Read Article] Saturday 21st of May 2016 06:00:05 AM
.... However, the account isn’t free – it costs £10 a month. The commission charge for purchases made in a foreign currency is 2% of the transaction amount. ...
Venezuela tops list of countries most vulnerable to low oil prices image
Source : Guardian [Read Article] Wednesday 27th of April 2016 11:44:45 AM
....The risks are obvious. There will be a persistent hit to government tax revenues and shortages of imported goods because Venezuela lacks the foreign currency to pay for them. ...
Decline in iPhone sales leads to first revenue decline in 13 years for Apple image
....In the meantime it is still piling up cash. It now has a cash mountain of $233bn, more than all the foreign currency reserves across the world and more than the Czech Republic, Peru and New Zealand make in gross domestic product (GDP) a year. ...
Hot long-haul bargains: Family holiday to Florida will be CHEAPER than Spain this year image
....If you are looking for a city break rather than a holiday in the sun, again it pays to broaden your horizons. Budapest in Hungary offers the best value according to new research by foreign currency specialists Caxton FX. ...
Bangladesh bank boss quits over fraud image
Source : BBC [Read Article] Tuesday 15th of March 2016 07:52:45 AM
. The head of Bangladesh's central bank, Atiur Rahman, has resigned after cyber-thieves stole more than $100m from the country's foreign currency reserves. ...
Can Nigeria breathe new life into its factories? image
Source : BBC [Read Article] Monday 14th of March 2016 12:53:26 AM
....And then, when the products are made, there are high costs to get them to market. Mr Ahmed's latest problem: He cannot get foreign currency to buy machine parts from Europe. ...
Osborne faces up to tough choices in an altogether bleaker budget image
Source : Guardian [Read Article] Saturday 12th of March 2016 04:00:21 PM
....Osborne is unlikely to shed a tear for the Scots and their much-discussed £15bn financial black hole since the collapse of the oil price. But the chancellor will be concerned at the loss of foreign currency, which is partly responsible for a worsening in the trade balance over recent years. ...
Brazil's economy slumps to 25-year low image
Source : Guardian [Read Article] Thursday 3rd of March 2016 05:47:00 PM
....Brazil’s economy had been hit hard by a collapse in commodity and oil prices in the past two years, said Mihir Kapadia, head of Sun Global Investments, an emerging markets wealth management company in London. “The situation has been made worse by the high debt levels, especially in foreign currency – essentially in US dollars. ...
Unpicking the banking 'con-trick' image
Source : BBC [Read Article] Wednesday 2nd of March 2016 02:04:22 PM
.... . Customers pay no monthly or annual fee, but they forgo a chunk of interest payments and may face a host of charges ranging from fees for going overdrawn to making purchases in foreign currency. ...
Islamic State 'earning millions by playing the stock market' image
Source : Telegraph [Read Article] Wednesday 2nd of March 2016 12:01:10 PM
. Isil is making millions of dollars for its war chest by playing foreign currency markets under the noses of bank chiefs, it was revealed today. ...
Closing the capital drain from emerging markets image
Source : Guardian [Read Article] Friday 19th of February 2016 08:24:15 AM
.... The problem is especially severe in commodity-exporting developing economies, where firms borrowed extensively, expecting high commodity prices to persist. Many developing country governments failed to learn the lesson of earlier crises, which should have prompted regulations and taxes restricting and discouraging foreign currency exposures. ...
Save £2,082 – just by ditching these five bad financial habits image
Source : Telegraph [Read Article] Monday 15th of February 2016 01:37:25 PM
.... . “The average penny jar contains about £41, while we also have an average of £110 in unused foreign currency," Mr Fahy said. ...
China bank chief blames 'speculators' image
Source : BBC [Read Article] Sunday 14th of February 2016 12:52:34 PM
....Mr Zhou's remarks come as Chinese markets prepare to reopen on Monday after a week-long New Year holiday. Efforts to defend the yuan have eroded China's foreign currency reserves. ...
China's exchange rate trap image
Source : Guardian [Read Article] Tuesday 9th of February 2016 03:26:10 PM
.... It assumes that investors would be unperturbed by the authorities’ abandonment of their prior vow to shun a mega-devaluation. It ignores the fact that Chinese enterprises, already in dire straits, have as much as $1tn of foreign currency debt that would become significantly more difficult to service. ...
China's currency reserves plunge image
Source : BBC [Read Article] Sunday 7th of February 2016 10:53:16 AM
. China's foreign currency reserves plunged by $99. ...
‘Lord Libor’ reveals financial system where bad apples have the midas touch image
.... Only reluctantly did Dimon accept that it was a big error, and acknowledge that he and the bank were guilty of “many errors” and “sloppiness”. Still, last May, JPMorgan was in the news again when it paid out nearly $900m to settle felony charges of foreign currency rigging. ...
Questor share tip: The most worrying chart for Apple right now image
Source : Telegraph [Read Article] Wednesday 27th of January 2016 06:36:30 PM
.... . The impact of foreign currency fluctuations is hurting Apple’s sales when they are translated into dollars. ...
Opinion is divided on state of Chinese economy, but not on its importance image
.... Economists are divided about the risks facing the vast Chinese economy, but agree that how they play out will have profound consequences for the rest of the world in 2016. The optimists point to China’s large and growing middle class, the vast foreign currency reserves that give Beijing ample ammunition to respond to any crisis that emerges, and the authoritarian regime that allows its policymakers to force through economic change. ...

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