Autonomy

So... in a country pegged to the US$... converting to UK pounds becomes more and more expensive... now over 1GBP to 7Dhs...

Indiegirl - you normally have some good insights...

TA5

It's actually a tv show here now called 'watch expats bitch about the US because the country they choose to work in pegs their currency to the dollar'

Eeyore

Oh, the crappy value of the dollar is only *one* thing we bitch about in respect of America

Don't get us going on that strategically-shaved ape you elected to run the joint and his insistence on starting and/or stoking up wars...

BurpusMe

I've been watching the US Dirham slide for months now... it's a huge disapointment, to say the least.

So... are you moving funds out of UAE alraedy or are you going to hold on to hopes of a recovery? Before you answer that question - google for terms like "US dollar" and "debt external".

MJC

I just thank my lucky stars I have exchange rate protection, if the dollar slides against the pound my employers pay me more dhs.

I'm more than happy, let it slip, let it slip!!

BurpusMe

Exchange rate protection... wow I'm so happy for you, Mr. Lucky!!
(IHATEYOUIHATEYOUIHATEYOUIHATEYOUIHATEYOU!!)

I need to find an employer like that!

Autonomy

What rate is it protected at?

Welivehere

Is it pegged at a minumum fixed rate or can you lose / gain both ways? If for instance the dollar was to suddenly gain in strength would they have to pay you less in AED?

MJC

No, it's a win only if it gets stronger against the pound then I dont get any exrtra, if its weak, then I do.

As for the rate, it's about AED6 to the pound, so if it's now 7:1 then I get an extra 17% or so.

Autonomy

OK - Is there any way to pay dhs to your company and then withdraw squids?

If there is you will become VERY popular....

(please....)

PPS SIX.... SIX.... F'ING SIX.....!!!1111!!!!11!!!1!!!!(as the kids say) that's all I have to say.

Welivehere

Auto

Dunno how long you have been here but when we first looked to come out to live (bout 4 years ago) it 5.2 and then just over 5.8 when we arrived 3 years ago...

It criminal when you do the cpnversion, but all that does is depress me... and seeing as there is very little I can do about it I try not to think about it too much....

Roll on the resolution of the Lebabnon conflict, the stabilization of oil proces and the next US election.... Maybe then we will experience some strengthening of the $....

That or wait til dirham is unpegged from the dollar and re-assessed against a new basket of currency or even allowed to stand alone....

MJC

Now that would be a scary thought, what with the rampant inflation that we have here, we'll be getting Zimbabwe type soon!!