Currency manipulation

For many of your readers the Avis d’Impôt sur les Revenus 2016 will have arrived recently.

Whilst the majority, myself included, will have noticed a drop in income following the referendum, especially if transferred direct from the UK to a French bank account, perhaps on the printed version the reduction in income will be more noticeable. And it looks like continuing.

In my own case – a Civil Service Pension, administered by a third party – the exchange rate never seems to tally with the updated daily rates. Previously it would arrive in my account on the first of the month but following a change in the company’s methods, I noticed the transfer could be between two and five days.

I have never received a satisfactory answer as to the delay and what happens to the funds in the meantime. The state pension is always transferred on time and the exchange rate more realistic. After the referendum and the drop in the value of the pound against the euro, we see examples on a daily basis how these individuals use this excuse or another to play with a currency.

This manipulation must make them a considerable amount of money over a period simply by pressing buttons. As individuals, we stand no chance when currency is being manipulated like this especially, following the referendum result. I have yet to read a satisfactory explanation for the sudden drop.

The same could be said regarding our future status. What has the government offered to reassure us? If it were not for some EU officials demanding the UK put forward arrangements for their citizens living in the UK and linking this to our own future status living in member states, we would be left high and dry.

Christopher EATOUGH, Nièvre