Welcome to the Pure FX account of the latest changes in the foreign exchange rates. This is intended as a brief guide to movements in the exchange rates this week, to put you in the best position when you exchange currencies. Exchange rate changes GBPEUR: 1.2621 to 1.2601 (-0.158%) GBPUSD: 1.5789 to 1.5939 (+0.95%) EURUSD: 1.2554 to 1.2644 (+0.717%) As you can see above, the US dollar was the biggest loser last week, shedding almost 1.00% against the UK pound and euro. This continues a trend we’ve seen since early August, when the buck started to slide against its counterparts, as expectations that the European Central Bank would act to “preserve the euro” boosted global … [Read more...] about US dollar loses out after ECB unveils its rescue scheme
Expats
Euro gains as market awaits Draghi’s silver bullet
Welcome to the Pure FX account of the latest changes in the euro exchange rate. This is intended as a brief guide to movements in the euro this week, to put you in the best position for when you exchange currencies. Changes in the exchange rate: GBPEUR: 1.2765 to 1.2593 (-1.347%) GBPUSD: 1.5687 to 1.5787 (+0.637%) EURUSD: 1.2289 to 1.2508 (+1.782%) What’s affected the rate this week Super-Mario to the rescue? As you can see above, the euro has been the big winner in the past week, gaining ground against both the pound and US dollar. Oddly enough though, this isn’t because of anything that’s happened, so much as hopes regarding what might happen. In short, the market is on … [Read more...] about Euro gains as market awaits Draghi’s silver bullet
Exchange rates in holding pattern as markets await central bank action
Welcome to my weekly account of what’s affected the euro exchange rate, covering the 10th to 17th August 2012. This is intended as a brief guide to the latest movements in the euro, to help you plan the best time for you to change currencies. Exchange Rate Changes GBPEUR: 1.2707 to 1.2717. No big change since broke 1.26 about 4-5 weeks ago. GBPUSD: 1.5621 to 1.5712. But fell from 1.62 in May and since then hovering. EURUSD: 1.2289 to 1.2355. Hovering at about this point for about 4-5 weeks. What’s Affected The Rate This Week The exchange rates sit more or less unchanged this week, with the euro moving less than a cent against the pound and US dollar. And in fact, if you look back, … [Read more...] about Exchange rates in holding pattern as markets await central bank action
Spain’s reluctance to request aid weighs on the euro
Welcome to my weekly account of what’s affected the euro exchange rate, covering the 3rd to 10th August 2012. This is intended as a brief guide to the latest movements in the euro, to help you plan the best time for you to change currencies. How The Rates Have Changed Pound to euro: 1.2615 to 1.2707 (+0.729%) US dollar to euro: 0.8079 to 0.8151 (+0.891%) What’s affected rates this week The euro has fallen against both the pound and US dollar this week, chiefly because of a figurative game of chicken between Spain and the European Central Bank. The ECB said this week it was prepared to directly intervene in the financial markets to reduce Spain’s borrowing costs. Given that these … [Read more...] about Spain’s reluctance to request aid weighs on the euro
Euro slides as ECB disappoints
Welcome to my account of what’s affected the euro exchange rate this week, covering the 27th July to 3rd August 2012. This is intended as a brief guide to the latest movements in the euro, to help you decide the best time for you to change currencies. Rate changes this week: Euro to pound: 0.7828 to 0.7851 (+0.294%) US dollar to pound: 0.6359 to 0.6434 (+1.179%) US dollar to euro: 0.8123 to 0.8215 (+1.133%) What’s affected the euro exchange rate this week? 1. The European Central Bank shoots and misses. As we can see here, the US dollar was the comeback kid this week, stealing more than 1.0% each from the pound and euro. What explains this revival in the buck fortunes? Well, it … [Read more...] about Euro slides as ECB disappoints
New rules raise requirements for applying for residency in Spain
Although the intention was clear, the exact means by which this would be proven, was not. The central Spanish government makes national policy but this is often interpreted at a regional as well as a town hall level. So what we are beginning to see is this latest dictate being interpreted in different ways in different parts of the country. In order to give some indication of what might be asked for if you do want to apply for Spanish residency we selected three areas local to our offices to illustrate. Murcia: Is not currently issuing residency certificates at all. The regional authorities are waiting for further national guidance. Torrevieja: In addition to the usual documents you … [Read more...] about New rules raise requirements for applying for residency in Spain
Euro climbs as ECB’s Draghi vows to do “whatever it takes”
Welcome to my weekly account of changes in the foreign exchange rate, covering the 20th to 27th July 2012. This is intended as a brief guide to what’s affected the euro this week, to help you decide the best time for you to change currencies. Exchange rate changes: Pound to euro: 1.2807 to 1.2804 (-0.023%). Pound to US dollar: 1.5478 to 1.5692 (+1.383%) Euro to US dollar: 1.2094 to 1.2297 (+1.679%) What’s affected the foreign exchange rates this week? 1. Mario Draghi vows to save the euro. It’s been a tough week for the US dollar, which has lost two cents apiece to the pound and euro. This is because, speaking yesterday at a conference in London, president of the European … [Read more...] about Euro climbs as ECB’s Draghi vows to do “whatever it takes”
Euro sinks as Eurozone commitment wavers
Welcome to my weekly account of what’s affecting the euro exchange rate. Changes over one week: Pound to euro: 1.267 to 1.282 (+1.2% increase) Euro to US dollar: 1.219 to 1.226 (+0.53% increase.) Further evidence this week that the Eurozone’s politicians inhabit an alternate plane of existence, in which the economic woes befalling us mere mortals are but a cipher, or passing dream. French Finance Minister Pierre Moscovici said to officials in Washington: “People are, I think, happily surprised about what we're doing.” To which, I would have asked Monsieur Moscovici had I been there, to which people are you referring? Because, based on the tens of thousands of people protesting … [Read more...] about Euro sinks as Eurozone commitment wavers
Disentangling Spain’s new medical prescription co-payment process
The new co-payments system has been functioning since July 1 and it is now clear that: Pensioners with an income below €18,000 pay 10% toward the cost up to a maximum of €8 per month. Pensioners with an income above €18,000 but below €100,000 pay 10% toward the cost up to a maximum of €18 per month. Pensioners with an income above €100,000 pay 10% toward the cost up to a maximum of €60 per month. Non-pensioners with an income below €18,000 pay 40% toward the cost with no maximum. Non-pensioners with an income above €18,000 but below €100,000 pay 50% toward the cost with no maximum. Non-pensioners with an income above €100,000 pay 60% toward the cost with no maximum. Your … [Read more...] about Disentangling Spain’s new medical prescription co-payment process
Euro plunges as Spain cuts deeper
Changes over one week: GBPEUR: 1.254 to 1.267 (+1.037%) - Highest point since October 23, 2008 USDEUR: 0.807 to 0.82 (+1.161) - Highest point since June 18, 2010 Oh, Spain! As you can see above, the euro sits at multi-year lows against both the pound and US dollar this week, giving you a good opportunity if you intend to emigrate to the continent, or snap up some Eurozone goods. Yet the reasons for the euro’s decline could be better. Spanish Prime Minister Mariano Rajoy has announced another €65 billion in spending cuts for the Iberian nation, already widely discredited as the best way to keep Spain in recession. (For instance, Jeremy Warner of telegraph.co.uk notes, “The … [Read more...] about Euro plunges as Spain cuts deeper