An internal Santander memo leaked to Guardian Money says 10% of its global profits come from international cash transfers, and it charges six times more than newer rivals
Currency volatility sparked by the decision in the UK to leave the European Union could create a scenario where overseas investors make major profits by continuing to invest and store their wealth in prime property in London, it is suggested.
Market conditions are ripe for opportunistic foreign investors, which could create a welcome increase in the level of sales enquiries received by London developers and give a lift to the British property sector, according to a report from Arcadis.
Since the result of the EU referendum was announced, sterling has fallen relative to the euro and the US dollar with further falls forecast before the end of the year. The report suggests that buyers from Europe, Asia, and the Middle East are now well placed to secure bargains in the London prime housing market by exploiting both a softening of property values and a favourable currency situation.
Residents living in India have been banned from acquiring homes overseas, as part of a wave of measures introduced by the Indian government to control outflows of foreign exchange.
The country has been forced to act after its currency, the rupee, fell to record lows against various major foreign currencies, including the US dollar.it is hope that the measure to restrict people buying property abroad will help to strengthen the Indian currency.
Here Andy Scott, premier account manager at foreign currency exchange brokers HiFX, considers the latest money market developments... "Sterling made a brief high just over 1.63 on Friday morning, marginally above the high for 2012, which we saw back in April, despite the release of record Government borrowing figures during the...
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