currency exiles
Just got my credit card statement and and for the first time a Canadian dollar charge has come through at over 4 dirhams to the dollar.
Admittedly this is after the bank added their 1.5% foreign exchange fee but it is eye-popping never-the-less. Any Canuck in Dubai is making 40% less than he was two years ago. Don't even think about looking any farther back in time than that or your reputation as the stong silent type will suffer as you roam about your luxury villa weeping.
Any Canadian here who has mortgage or family commitments at home that involve routine transfer of funds is in serious trouble, any Canadian here who sold their Canadian home in a fit of enthusiam before coming to Dubai is essentially priced out of returning to a home there - particularily if they wish to settle in BC or (God's-very-own-corner-of-the-planet) Alberta.