View previous topic :: View next topic |
Author |
Message |
redsoxfan
Joined: 18 Oct 2005 Posts: 178 Location: Dystopia
|
Posted: Sun Jun 22, 2008 8:02 pm Post subject: Signing a contract in dollars |
|
|
Is it better to sign a contract in dollars or hryvnia? It seems from my brief bit of research that the hryvnia is pegged to the dollar in some way. Does this mean that it doesn't matter which currency I'm paid in? My first thought obviously is that signing a contract in dollars is absurd given that I know my salary would decrease monthly. |
|
Back to top |
|
|
Kootvela
Joined: 22 Oct 2007 Posts: 513 Location: Lithuania
|
Posted: Mon Jun 23, 2008 7:22 am Post subject: |
|
|
I don't think it is legal to sign a contract in dollars, which is not the official currency of the country. It would/might be okay if they were a foreign company paying you from abroad. You need to check the legal requirements for that.
Also, it's better to sign for the local currency because if suddenly the rate of dollar falls, you will be still paid in dollar but your bread will be triple expensive. Or something like that. |
|
Back to top |
|
|
ecocks
Joined: 06 Nov 2007 Posts: 899 Location: Gdansk, Poland
|
Posted: Tue Jun 24, 2008 4:11 am Post subject: Do it in hryvnia |
|
|
Definitely do it in hryvnia.
And make them pay you in hryvnia also, don't accept dollars. It's simply too volatile in the last month or so.
The hryvnia WAS pegged at 5.05 but was adjusted to 4.85 a month or so ago and now hovers arounf 4.60 - 4.75. |
|
Back to top |
|
|
ecocks
Joined: 06 Nov 2007 Posts: 899 Location: Gdansk, Poland
|
Posted: Tue Jul 29, 2008 1:08 pm Post subject: |
|
|
Update:
Dollar is down a bit here at 4.5 - 4.6. Increasingly, don't take dollars and if you already are, make them calculate at the old 5.05 rate at the very least. Better is to be sure you are above the UAH 7500 rate which gives you a fighting chance at having some social life and a decent apartment, albeit a bit far out from center. |
|
Back to top |
|
|
redsoxfan
Joined: 18 Oct 2005 Posts: 178 Location: Dystopia
|
Posted: Thu Jul 31, 2008 5:54 pm Post subject: |
|
|
Thanks, I will be paid based on the 5.05 rate--didn't even have to argue for that one. |
|
Back to top |
|
|
Cardinal Synn
Joined: 01 Nov 2004 Posts: 586
|
Posted: Sat Aug 02, 2008 7:17 pm Post subject: |
|
|
I think half and half is a good way to be paid - if you can save the dollar half, that is. The rate is already going back up and will likely be back around 5 before too long.
The Hrivana is artificially high just now and is not able to sustain this rate for long ( I am reliably informed). |
|
Back to top |
|
|
ecocks
Joined: 06 Nov 2007 Posts: 899 Location: Gdansk, Poland
|
Posted: Tue Aug 05, 2008 12:35 pm Post subject: |
|
|
redsoxfan wrote: |
Thanks, I will be paid based on the 5.05 rate--didn't even have to argue for that one. |
As it should have been. Inflation rate of increase has eased a bit over the summer but we are probably in for a new round sometime this fall. We'll have that cup of coffee and chat over the ins and outs of this market when you get to town. |
|
Back to top |
|
|
BIGGESTOFA
Joined: 11 Oct 2008 Posts: 8
|
Posted: Mon Nov 17, 2008 4:20 pm Post subject: |
|
|
This is wierd I signed dollar contract and came out ahead?
The pay is based on dollars but deposited in local. |
|
Back to top |
|
|
Cardinal Synn
Joined: 01 Nov 2004 Posts: 586
|
Posted: Mon Nov 17, 2008 11:24 pm Post subject: |
|
|
The dollar's now around 5.8 Hrs so it's not surprising you're ahead. Definitely a good move signing an agreement to be paid in dollars. However, the way things are going, who knows what will happen? If the grivna dives again once the IMF loan honeymoon fades, it could spell big trouble for some schools. If they're paid in local by clients and pay their teachers in dollars, it'll get bad. We will see. |
|
Back to top |
|
|
charlesinukraine
Joined: 09 Apr 2010 Posts: 18
|
Posted: Sun May 09, 2010 7:46 pm Post subject: |
|
|
the uah has been sitting at about 8uah to the $ for the past year. There is constant talk about another adjustment to 10uah to the usd. The International Monetary Fund wants this devaluation but the Ukrainian Government has been holding back.
The point is that when paid in uah a person may need to exchange for dollars (or another currency) if bills such as student loans have to be paid. Anyone needing to pay bills in another currency needs to consider issues of stability.
As noted above it is illegal for contracts to be based in dollars and to be paid in dollars, as well. |
|
Back to top |
|
|
Cardinal Synn
Joined: 01 Nov 2004 Posts: 586
|
Posted: Thu May 13, 2010 11:21 am Post subject: |
|
|
"Illegal" tends not to mean a lot over here |
|
Back to top |
|
|
SarahLundt
Joined: 15 May 2010 Posts: 10
|
Posted: Mon May 17, 2010 9:35 pm Post subject: |
|
|
But what happens if the dollar goes down?
|
|
Back to top |
|
|
|