Working in ME and sending money home. Paid in Quids or Bucks?
Jan 23rd 2009, 7:48 pm
#1
Excess Baggage
Thread Starter
Joined: Jul 2006
Location: UK
Posts: 5,479
Working in ME and sending money home. Paid in Quids or Bucks?
(assuming I get the choice, that is).
Which would be better? I need to have a regular and stable amount of money going back to the UK for the bills and stuff. I won't be spending very much to live in Qatar.
In light of the current climate, would I be better getting paid in USD or GBP? Any opinions, expert or otherwise, would be most welcome.
Which would be better? I need to have a regular and stable amount of money going back to the UK for the bills and stuff. I won't be spending very much to live in Qatar.
In light of the current climate, would I be better getting paid in USD or GBP? Any opinions, expert or otherwise, would be most welcome.
Jan 23rd 2009, 8:11 pm
#2
Joined: Apr 2008
Posts: 872
Re: Working in ME and sending money home. Paid in Quids or Bucks?
(assuming I get the choice, that is).
Which would be better? I need to have a regular and stable amount of money going back to the UK for the bills and stuff. I won't be spending very much to live in Qatar.
In light of the current climate, would I be better getting paid in USD or GBP? Any opinions, expert or otherwise, would be most welcome.
Which would be better? I need to have a regular and stable amount of money going back to the UK for the bills and stuff. I won't be spending very much to live in Qatar.
In light of the current climate, would I be better getting paid in USD or GBP? Any opinions, expert or otherwise, would be most welcome.
dim question, but isn't the qatari riyal pegged to the dollar?
Jan 23rd 2009, 8:24 pm
#3
Excess Baggage
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Joined: Jul 2006
Location: UK
Posts: 5,479
Re: Working in ME and sending money home. Paid in Quids or Bucks?
my bet is on the USD. (w/out getting into all the economic debates, there's too many other countries w/ a vested interest in the USD remaining 'healthy' and as such, other 'strong' currencies such as sterling and the euro won't stay 'as strong')
dim question, but isn't the qatari riyal pegged to the dollar?
dim question, but isn't the qatari riyal pegged to the dollar?
Jan 24th 2009, 4:45 am
#4
Joined: Apr 2008
Posts: 872
Re: Working in ME and sending money home. Paid in Quids or Bucks?
Jan 24th 2009, 5:56 am
#5
Not an evil hypnotist
Joined: May 2007
Posts: 1,975
Re: Working in ME and sending money home. Paid in Quids or Bucks?
I would say pounds, though the others make good points about the strength of the dolar.
Your bills are in pounds. It sounds like your expenses in Qatar will be minimal. If so, by getting paid in pounds, you will be able to budget much more easily. I presume you're thinking longer-term here.
Presumably you'd be paid in pounds or dollars at an amount set today, given the exchange rate. The pound may well fall further against the dollar, but if it reaches parity you'll have bigger things to worry about...
Your bills are in pounds. It sounds like your expenses in Qatar will be minimal. If so, by getting paid in pounds, you will be able to budget much more easily. I presume you're thinking longer-term here.
Presumably you'd be paid in pounds or dollars at an amount set today, given the exchange rate. The pound may well fall further against the dollar, but if it reaches parity you'll have bigger things to worry about...
Jan 24th 2009, 6:39 am
#6
Account Closed
Joined: Jul 2008
Posts: 820
Re: Working in ME and sending money home. Paid in Quids or Bucks?
People I know working in Qatar are...surprisingly enough...paid in Qatari Riyals.
Jan 24th 2009, 9:28 am
#7
Just Joined
Joined: Jan 2009
Posts: 8
Re: Working in ME and sending money home. Paid in Quids or Bucks?
(assuming I get the choice, that is).
Which would be better? I need to have a regular and stable amount of money going back to the UK for the bills and stuff. I won't be spending very much to live in Qatar.
In light of the current climate, would I be better getting paid in USD or GBP? Any opinions, expert or otherwise, would be most welcome.
Which would be better? I need to have a regular and stable amount of money going back to the UK for the bills and stuff. I won't be spending very much to live in Qatar.
In light of the current climate, would I be better getting paid in USD or GBP? Any opinions, expert or otherwise, would be most welcome.
This question is almost impossible to answer. Sure for the moment, it seems like the USD shows more strength than then GBD or EUR but it might me momentarily only. The recent swings in the exchange rates have been huge.
Should the US be able to recover faster than Europe, then USD should remain stronger.
However, given that the Gulf countries (GCC) are supposed to adopt a common currency in the next few years. They might depeg more from the USD and a currency that would be pegged to a basket of currencies.
In other words, it is really tough to predict the strength of the local currencies in the future. Also because we have seen that UAE for example no longer blindly replicates the FED's (US) change in rates...
Jan 24th 2009, 9:36 am
#8
Excess Baggage
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Joined: Jul 2006
Location: UK
Posts: 5,479
Re: Working in ME and sending money home. Paid in Quids or Bucks?
Thanks for the input, everyone. I think the important thing (as typical says) is that I need to keep the GBP amount stable because the majority of my outgoings will be in GBP. I probably won't get paid in QAR because it's working for a large multi-national firm, not a local one.
