Qatar may revalue its currency in the coming weeks!

[Maverick]

Qatar may revalue its currency against the weak U.S. dollar in the coming weeks, an analyst at Standard Chartered said.
“The only adjustment we can see in the short-run is a revaluation as depegging is a very politically sensitive topic at the moment,” says Marios Maratheftis, regional head of research at Standard Chartered in Dubai.
He added that a one-off significant revaluation of 20% will be the best option for Qatar as it will replicate what a de-peg to a currency basket would have achieved and the one-off nature will make it less politically sensitive. Inflation in Qatar is at a record 14%, the worst in the region.

The Magic word is 'MAY'.

We are caught in betweeen A potential pay rise and that payrise not happening on the pretext of the Value of the Riyal increasing.

Lets hope all works to our benifit!

[loc22550]

"MAY" here means "will NOT".........:bored:
Just another" hope injection" probably.:hmm:

[goneeast]

I might appear thick here , so please bear with my question:

1 dollar is (about) 3.6 riyal so if they revalue by 20%, 1 dollar will equal 2.9 riyal ( correct so far?)

now if your salary is in USD but paid in riyals, your wages drop??

if so, how is this a good thing? As I said, I might be missing the point here.

:ugh:

[glidder]

The QA crew's salary is payed in Qatari Ryals...:sad:

[Doha_lad]

goneeast I agree - it is a little worrying. My contracted salary is in US$, however it is paid into my bank account in QAR.:bored:

[Qatari515]

Euhhh...hello guys...wake up!


You are paid in QAR...correct!

So lets say you make 50000QAR

Today that makes about 13760 USD (50000/3.64)

After the re-evaluation that makes about 17000USD (50000/2,94)



Is it clear like this???????

So in Doha you will not get a pay rise, but your purchasing power should go up as the prices for all the imported goods should go down. ( Watch the word should, as with these corrupt crooks you never know)

People paying bills in USA or Europe will feel the re-evaluation in a positive way, as the exchange rates will go back to the levels they where 3 years ago!

Now if you are a contract pilot with a salary defined in Dollars, then you better start re-negotiating that contract. Otherwise you will loose 20% salary....Perks of being a contrat pilot I guess:cool:

1-on1 in basic economics finished now


By the way, nobody will ever announce the re-evaluation. You will all know about it once it has been implemented already. Reason is to avoid currency speculation!

Damn....otherwise I could be a millionaire as well!

[goneeast]

Thanks Qatari515

I did mention that I was confused :E. Im same as Doha lad. Salary in USD but paid in Riyals. So its wait and see time.

[Maverick]

All our Contracts are in Riyals and Not in USD.....

It is given as an indication of comparable salaries in the region.

The Question is....Will they REVALUATE???

If they do lets hope its after we get any sort of expected yearly raise ( apart from our precalculated salary step increments per year )....April is the time to watch for....

Cheers!

Mav.

[loc22550]

Maverick...Do you expect both of them : salary increase+revaluation of the Riyal.....!!:ooh: Wake up,stop dreaming!!!:hmm:
If we ever get at least one of them....we may be very lucky.