Monday, 12 April 2010

Further reports of expats hurt by currency rates

British newspaper The Times is the latest publication to look at how British expats – and in particular, pensioners – are being hurt by the worsening performance of the pound. It suggests that things could get even worse due to political uncertainty in advance of the election, which would weigh on hopes for economic recovery.

The Times says that “of the estimated 1.1m British pensioners living overseas, one in five claims a sterling pension”, and that the majority, that live in Europe, face significant hardships due to the flattening Sterling-Euro exchange rate.

Outside of Europe, generally the situation is less severe. Although it would not be down under, where the Australian dollar has made extremely strong ground on the pound in the last couple of years. Do any of our readers have first-hand experience of being hurt by (or benefitting) from currency rates or anecdotes on what you’ve done to beat the crunch?

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