EU Brexit for Expats: Exchange Rates Can go Down as Well as Up
EU Brexit for Expats: Exchange Rates Can go Down as Well as Up
Sam Orgill of ProACT Partnership considers the Exchange Rate Adjustment and implications of EU Brexit for Expats Living and Working Abroad
EU Brexit for Expats means the UK needs to stimulate the economy and the a lower exchange rates is the main tool at the UK government's disposal. Exchange Rates Can Go Down as Well as Up
Lower Sterling Exchange Rates Means Change for Expats and a New approach:
Sterling purchase with Euro is cheaper
£1:€1.30
£1000=€1300
€1000=£769
Euro purchase with Sterling more expensive
£1:€1.17
£1000=€1170
€1000=£854
ProACT Top 5 Currency Saving Tips for Expats:
1. If you have Euro in excess use it for major purchases in GBP. Hold on to GBP.
2. Spend Euro for income while holding onto GBP until rates settle and the future is clearer.
3. Consider ‘buying’ Euro options for a future higher exchange rate
4. If you sell in Euro and Buy in GBP you are better off.
5. If your Euro Overseas Property is valued in Euro and your Investments & Pension in GBP 50:50: then you are no worse off when exchange rates go up and down.
Stay Calm and Carry On Exchanging Currency
Forget the headlines. Exchange rates go up and down but on average they don't change much.
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Thank You CONTACT US
Sam Orgill,
ProACT Partnership - Expatriate Advice - Tax Saving Expat Experts
Email: info@proactpartnership.com
Tel: +357 26 819 424
Tel: +44 1753 27 2116
www.proactpartnership.com/contact-us
