|
Job Discussion Forums
"The Internet's Meeting Place for ESL/EFL Students and Teachers from Around the World!"
|
| View previous topic :: View next topic |
| Author |
Message |
Cleopatra
Joined: 28 Jun 2003
Posts: 3657
Location: Tuamago Archipelago
|
 Posted: Wed Nov 11, 2009 4:15 pm Post subject: |
 |
|
| Quote: |
| If I am getting paid in Saudi Riyals and the US dollar drops, won't I make more US dollars, not less? |
Uh.... no. I'm no genius at maths but even for me, that's a fairly simple one!
The Saudi Rial is pegged to the US$, which means the exchange rates do not change. What is a problem is if your savings are in Euro or another currency which is strengthening against the dollar. In Euro terms, your salary will be worth less and less each month. This is indeed what has been happening over the past several years. |
|
| Back to top |
|
 |
johnslat
Joined: 21 Jan 2003
Posts: 13859
Location: Santa Fe, New Mexico, USA
|
| Posted: Wed Nov 11, 2009 4:20 pm Post subject: |
|
|
Dear rjbad,
Since the Saudi riyal is, for all practical purposes, tied to the US dollar,
it shouldn't affect that exchange rate.
But, of course, your salary will be affected with regard to the exchange rate of the US dollar to the Euro.
Regards,
John |
|
| Back to top |
|
|
rjbsd
Joined: 20 Oct 2009
Posts: 53
|
| Posted: Wed Nov 11, 2009 4:23 pm Post subject: |
|
|
| Obviously, math is not my major, nor economics. My next question. I am American. What does the Euro have to do with my salary, if I am paid in Riyals and I convert to US dollars? |
|
| Back to top |
|
|
johnslat
Joined: 21 Jan 2003
Posts: 13859
Location: Santa Fe, New Mexico, USA
|
| Posted: Wed Nov 11, 2009 4:26 pm Post subject: |
|
|
Dear rjbsd,
Absolutely nothing at all - unless you plan on gong to Europe and spending money.
Regards,
John |
|
| Back to top |
|
|
Cleopatra
Joined: 28 Jun 2003
Posts: 3657
Location: Tuamago Archipelago
|
| Posted: Wed Nov 11, 2009 4:48 pm Post subject: |
|
|
| Quote: |
| What does the Euro have to do with my salary, if I am paid in Riyals and I convert to US dollars? |
Nothing much.
However, unless all your money is tied up in US$, you might consider putting at least some of your savings in Euro. While I've no wish to reopen the discussion of a few weeks ago, it does appear that the $ is set for long-term continued depreciation. |
|
| Back to top |
|
|
rjbsd
Joined: 20 Oct 2009
Posts: 53
|
| Posted: Wed Nov 11, 2009 5:25 pm Post subject: |
|
|
| Cleopatra wrote: |
| Quote: |
| What does the Euro have to do with my salary, if I am paid in Riyals and I convert to US dollars? |
Nothing much.
However, unless all your money is tied up in US$, you might consider putting at least some of your savings in Euro. While I've no wish to reopen the discussion of a few weeks ago, it does appear that the $ is set for long-term continued depreciation. |
Yep, Things are getting really grim in my neck of the woods. |
|
| Back to top |
|
|
InterRick
Joined: 18 Jul 2009
Posts: 86
|
| Posted: Thu Nov 12, 2009 12:58 am Post subject: |
|
|
| rjbsd wrote: |
| Cleopatra wrote: |
| Quote: |
| What does the Euro have to do with my salary, if I am paid in Riyals and I convert to US dollars? |
Nothing much.
However, unless all your money is tied up in US$, you might consider putting at least some of your savings in Euro. While I've no wish to reopen the discussion of a few weeks ago, it does appear that the $ is set for long-term continued depreciation. |
Yep, Things are getting really grim in my neck of the woods. |
Presumably, the economic situation in KSA is not as grim as in the USA. Anyone have any insight if the riyal will be uncoupled from the dollar or revalued anytime soon? (I suppose if anyone did they could make a quick bundle, so I guess I am just looking for the opinion of someone less clueless than myself about the situation.) |
|
| Back to top |
|
|
Deicide
Joined: 29 Jul 2006
Posts: 1005
Location: Caput Imperii Americani
|
| Posted: Thu Nov 12, 2009 1:23 am Post subject: |
|
|
| InterRick wrote: |
| rjbsd wrote: |
| Cleopatra wrote: |
| Quote: |
| What does the Euro have to do with my salary, if I am paid in Riyals and I convert to US dollars? |
Nothing much.
However, unless all your money is tied up in US$, you might consider putting at least some of your savings in Euro. While I've no wish to reopen the discussion of a few weeks ago, it does appear that the $ is set for long-term continued depreciation. |
Yep, Things are getting really grim in my neck of the woods. |
Presumably, the economic situation in KSA is not as grim as in the USA. Anyone have any insight if the riyal will be uncoupled from the dollar or revalued anytime soon? (I suppose if anyone did they could make a quick bundle, so I guess I am just looking for the opinion of someone less clueless than myself about the situation.) |
Yes, when will this happen? |
|
| Back to top |
|
|
scot47
Joined: 10 Jan 2003
Posts: 15343
|
| Posted: Thu Nov 12, 2009 6:24 am Post subject: |
|
|
| If it does happnenyou will get no prior warning. Central Banks in the area are tied up with discussions on a joint currency. KSA,UAE,Qatar,Bahrain have been talking for a long time about adopting a single currency. |
|
| Back to top |
|
|
Cleopatra
Joined: 28 Jun 2003
Posts: 3657
Location: Tuamago Archipelago
|
| Posted: Thu Nov 12, 2009 3:01 pm Post subject: |
|
|
As scot says, major events in this part of the world seem to happen 'out of the blue'. Of course that's not really the case - discussions go on for a long time behind closed doors, but the public doesn't get to hear until the powers that be are good and ready.
There was talk of introduction a single currency among GCC states (the 'Gulfo'?) a few years ago, but that was dropped (apparently mainly at the insistence of KSA). Recently, those discussions seem to have been revived, and there has also been talk (denied by the SAudis, but that doesn't neccessarily mean much) that the Gulf states are going to drop or at least adjust the $ peg soon. Who can tell if or when it's going to happen? Stay tuned.... |
|
| Back to top |
|
|
Deicide
Joined: 29 Jul 2006
Posts: 1005
Location: Caput Imperii Americani
|
| Posted: Thu Nov 12, 2009 4:23 pm Post subject: |
|
|
| Cleopatra wrote: |
As scot says, major events in this part of the world seem to happen 'out of the blue'. Of course that's not really the case - discussions go on for a long time behind closed doors, but the public doesn't get to hear until the powers that be are good and ready.
There was talk of introduction a single currency among GCC states (the 'Gulfo'?) a few years ago, but that was dropped (apparently mainly at the insistence of KSA). Recently, those discussions seem to have been revived, and there has also been talk (denied by the SAudis, but that doesn't neccessarily mean much) that the Gulf states are going to drop or at least adjust the $ peg soon. Who can tell if or when it's going to happen? Stay tuned.... |
How good would it be to be able to save the equivalent of �80k or �80k instead of....  $80k.... 
I wouldn't have to spend as much time there and...an old man can dream...  |
|
| Back to top |
|
|
mrbbkk
Joined: 02 Jun 2007
Posts: 70
Location: Tokyo
|
| Posted: Sun Nov 15, 2009 11:34 am Post subject: offer |
|
|
14,500 plus housing and furniture allowance
but its a preliminary contract and who knows if the offer on the real contract will match it
I never bank on it till it is signed sealed and delivered and the money is in my hands or in the bank |
|
| Back to top |
|
|
|
|
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
|
This page is maintained by the one and only Dave Sperling.
Contact Dave's ESL Cafe
Copyright © 2018 Dave Sperling. All Rights Reserved.
Powered by phpBB © 2001, 2002 phpBB Group
|
FAQ
Search
Memberlist
Usergroups
Register
Profile
Log in to check your private messages
Log in
