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Hi everyone

I have a new topic I need help with -- the exchange rate. Have any of you been losing money on the exchange rate. I hear is Dh6 to the pound and that some people have stopped sending money home.
Anyone here experiencing this? Is it still worth being here?

Take about slipping into poverty!! in the last 6 months my salary has depreciated by almost 10% !!! Christ!!! The dolar is going under...and with it the Dirham!!

Any idea when this will be reversed??

im offering accomadtion in my garage damn it!
i also have a bin with back alley views, come on people, they're semi-furnished.

well I don't know when or if the dollar weakness will be reversed. Its been going on a while. Most economist I spoke to when I was back home thought it would go on for another year or so...

Has this depreciation affected your standard of living here in Dubai. Or is just affecting investments and savings outside of Dubai?

You will NOT be losing on the US$ in terms of exchange rates, but you will lose on the Aus$, NZ$, UK £ and Euro, to mention but a few. Reason being is that obviously, the dhs. is pegged to the US$ and never changes, give or take a few 0.001's.

The £ is currently running at dhs.7 / £.

I think it is only right for the companies to increase our salary according to the steady increase of everything around us. Like a 10% increase every year excluding the expected yearly increments.

We should all fight for this....I am going to ask all my collegues to start asking. We can make this trend take root in Dubai if we all chip in.

Kalay wrote:Has this depreciation affected your standard of living here in Dubai. Or is just affecting investments and savings outside of Dubai?

This is a great question I think i will open a poll for this.

The rise and fall of the exchange rates are for reasons beyound our/your control. If you get a raise cos of the low US$, when it strengthens, are you going to give it back?

The only reason why we are all suffering is the dollar and that arsehole in charge is weak, when put against the Euro, £ and one or two other currencies.

Are you saying that the dhs should not be pegged to the US$? In 6-9 months you would be whinging that you are worse off cos the US$ will rise.

I BLAME THE YEN!!!


sorry....was feeling left out...thought i'd blow in....