Post by Fletchsmile on Jan 4, 2016 12:51:43 GMT 7
GBP bought around 5% more THB towards the end of December 2015 than a year earlier.
But the big questions like how much do I need to retire in Rio are being answered on brazilvisa.com
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Sterling in 2015: Where your pounds now go further
Transferring money internationally is increasingly common. Whether it’s buying a holiday home in the sun, working and retiring abroad, or gifting money to family members overseas. This year, those individuals and businesses sending money abroad have, in general, benefited from a strengthening pound. Below, I highlight the destinations where your pounds now go further compared to the end of last year and also take a look ahead to 2016.
Emerging market and commodity currencies lead the declines
Actions taken by central banks to give their economies a nudge in the right direction have been important drivers of currency movements in 2015, especially when they’ve taken markets by surprise.
One such event was China’s move in August to devalue its tightly-controlled renminbi amid increasing signs of cooling growth in the world’s second-biggest economy. Hefty stock market losses and negative capital flows away from emerging economies sparked volatility across wider emerging market currencies.
Additionally, pessimism over the global economy’s outlook and the associated lower demand for natural resources also weighed heavily on commodity exporters’ currencies.
Brazil has been one of the biggest casualties, with the pound rising more than 40% versus the real since the start of the year. Sterling currently buys R$5.92 (up from R$4.14 at the end of 2014) giving Brits an extra £6,019 on an exchange of £20,000. The pound also goes nearly 20% further versus the South African rand and Turkish lira, and over 10% further against the New Zealand and Canadian dollars (see table below).
contd...
www.hl.co.uk/news/articles/sterling-in-2015-where-your-pounds-now-go-further
But the big questions like how much do I need to retire in Rio are being answered on brazilvisa.com
========================================================
Sterling in 2015: Where your pounds now go further
Transferring money internationally is increasingly common. Whether it’s buying a holiday home in the sun, working and retiring abroad, or gifting money to family members overseas. This year, those individuals and businesses sending money abroad have, in general, benefited from a strengthening pound. Below, I highlight the destinations where your pounds now go further compared to the end of last year and also take a look ahead to 2016.
Emerging market and commodity currencies lead the declines
Actions taken by central banks to give their economies a nudge in the right direction have been important drivers of currency movements in 2015, especially when they’ve taken markets by surprise.
One such event was China’s move in August to devalue its tightly-controlled renminbi amid increasing signs of cooling growth in the world’s second-biggest economy. Hefty stock market losses and negative capital flows away from emerging economies sparked volatility across wider emerging market currencies.
Additionally, pessimism over the global economy’s outlook and the associated lower demand for natural resources also weighed heavily on commodity exporters’ currencies.
Brazil has been one of the biggest casualties, with the pound rising more than 40% versus the real since the start of the year. Sterling currently buys R$5.92 (up from R$4.14 at the end of 2014) giving Brits an extra £6,019 on an exchange of £20,000. The pound also goes nearly 20% further versus the South African rand and Turkish lira, and over 10% further against the New Zealand and Canadian dollars (see table below).
contd...
www.hl.co.uk/news/articles/sterling-in-2015-where-your-pounds-now-go-further
