$s slide cutting pay by up to 25% in Middle East
Working for an airline where the local currency is fixed to the US $ the pay has effectively reduced by nearly 25% in two years..and the slide is continuing.
So, for example, if you get payed 20,000 of the currency per month it will still buy you as many $s but convert it into Euros or GB£s and then it has taken a massive 25% hit. Even if you take into account that some of these airlines include an 'exchange rate protection scheme' linked to your local currency, it calculated last month that 1200 of the local currency would cover the shortfall... but that only accounts for 6%.
It makes a big difference when you are trying to pay off your mortgage back home...
Last edited by mozzie; 14th Jan 2004 at 01:58.