Currency Exchange – Travel Hotspots
If you’re looking for the best deals abroad than check out what’s hot on the foreign currency exchange.
Whether you are looking for a holiday, second home abroad or holiday home investment, you should check out the currency exchange to find out where you can make the most of your money.
Favourable currency exchange rates
Even if you aren't looking for a property investment or to emigrate abroad, choosing where to go on holiday is vital if you're on a budget - which is where the foreign currency exchange can help. The plummeting US dollar means that the relative cost for British travellers and investors is falling in many parts of the world. Currency exchange rates are favourable not just in the States then, but countries that are pegged to the US dollar.
Go East
If you are a UK resident and you are looking to exploit the currency exchange, Asian destinations are all good right now including China, Thailand, Latin America and the Caribbean. For retirees looking to emigrate abroad or buy a second property, it's worth investigating these locations to see if you can make the most out of the currency exchange for large investments.
Shopping limits
Although many British tourists are excited by the plummeting dollar and favourable currency exchange rates, it's worth remembering that there are strict limits on purchases made outside the European Union. Aside from the usual cigarette, perfume and alcohol limits, good are limited to just £145, including souvenirs and gifts. Anything over that has to be declared and duty varies from 10 to 20% with VAT on top – popular shopping destinations are often targeted by Customs officials.
Favourable currency exchange
One of the major groups who benefits from the favourable currency exchange rates are those who own property abroad as a second home. The recent surge in the pound against the euro promises cheaper holidays for those who have invested in the Continent. Stirling is at a high in the currency exchange at the moment boosted by the interest rate rise by the Bank of England.
Interest rates rise
Interest rates can support currency exchange by making returns more attractive to foreign investors, but you have to be wary – when they fall, investors could move their cash. If you are a manufacturer the stronger pound isn't necessarily good news as British exports become more expensive.
Seeking the help of a foreign currency exchange broker can help if you are looking to transfer money abroad.
Foreign Currency Exchange Ltd is a commercial currency brokerage based in the UK. We help thousands of clients move hundreds of million pounds across the globe every day. From large businesses to private individuals who wish to send regular payments abroad, you can save money by getting a better currency exchange rate than your bank. The Foreign Currency Exchange buys currency at wholesale rates and can help you save money with our fast secure service. For more information contact us now, telephone +44 (0) 20 7989 0000 or email info@fcexchange.co.uk