Saw this little comic in the Gulf News today. The falling USD has been in the minds of many people in UAE. The falling USD (to which the UAE dirham is pegged) and the rising Indian Rupee and Filipino Peso have affected many expatriates here. Many see their income depleting by 10 - 20% when converted to their home currency. To make things worse, people here now have to spend almost 50% more on food and groceries. While rental rates rise like 40% per annum. Terrible! That's why so many people are saying it's not worth it and are returning home. But for everyone who leaves, there is a long queue of people wanting to come in. All for the lucrative oil money. Only good news is, petrol is cheap. Imagine a full tank for RM60? Haven't seen that for years! Well... God knows what will happen in years to come with crude oil moving close to USD100.
Monday, November 5, 2007
USD vs EURO
Saw this little comic in the Gulf News today. The falling USD has been in the minds of many people in UAE. The falling USD (to which the UAE dirham is pegged) and the rising Indian Rupee and Filipino Peso have affected many expatriates here. Many see their income depleting by 10 - 20% when converted to their home currency. To make things worse, people here now have to spend almost 50% more on food and groceries. While rental rates rise like 40% per annum. Terrible! That's why so many people are saying it's not worth it and are returning home. But for everyone who leaves, there is a long queue of people wanting to come in. All for the lucrative oil money. Only good news is, petrol is cheap. Imagine a full tank for RM60? Haven't seen that for years! Well... God knows what will happen in years to come with crude oil moving close to USD100.
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