Does earning in dollars give a financial advantage in your country?

[King Belieal]

For some of us in developing countries, our national fiat currency has a disadvantage when pegged against the US dollar as it stands. Most people are moving to remote work so as to earn in dollars.

In your own country, do people that earn in dollars have an advantage over people that earn with the country's local currency

 

[Fidelia]

Earning in a better valued currency gives you a financial edge. That's because the same level of work you do, someone else does it but you earn more money because the money you earn has more value. People that are earning in dollars in my country aren't as affected with the inflation like people that earn with the local currency.

 

[SHAHID987]

Here we are getting much more financial benefits from it as 1$ equal to 280 Rs and in 280 Rs we can purchase one normal t-shirt.

 

[King Belieal]

If I earn 100 dollars now, and someone earns 100,000 NGN. When I convert my $100, I still have more money than them. Earning in dollars could help.

 

[Tracee]

presently a big fat YES is my answer cause my country's money value has depreciated to the extend where a dollar equates #1800 naira, so earning in dollars definitely is an advantage.

 

[King Belieal]

presently a big fat YES is my answer cause my country's money value has depreciated to the extend where a dollar equates #1800 naira, so earning in dollars definitely is an advantage.

It is pathetic that the currency of a country can depreciate that much. At that level, there is no iota of hope for the local economy.

 

[eLdavis]

At the moment with the current price of dollar over our local currency. It is of a huge advantage to earn in dollars at the moment.

 

[Tracee]

It is pathetic that the currency of a country can depreciate that much. At that level, there is no iota of hope for the local economy.

It is what it is, you either stay still doing nothing while blaming bad government or you make something of yourself despite the country's economical Situation I choose the later.

 

[Fidelia]

In Nigeria, the Naira has become almost worthless and no influencer or famous person has said anything simply because they earn with dollars and it is in their favour. People that earn in dollars actually have an advantage now in my country.

 

[Kirubel]

There is a huge difference between those who get paid with USD and those who get paid with the countries currency, if a person get paid with us dollar then he or she will get a huge advantage and their economical status will be stable.

 

[Augusta]

presently a big fat YES is my answer cause my country's money value has depreciated to the extend where a dollar equates #1800 naira, so earning in dollars definitely is an advantage.

Sure this morning I read it is now a thousand nine hundred. This is really pathetic and the prices of things have reached the roof top.

 

[Tracee]

That's just the most annoying part of it, the prices keep increasing like its a game

Sure this morning I read it is now a thousand nine hundred. This is really pathetic and the prices of things have reached the roof top

 

[aninditasen]

For some of us in developing countries, our national fiat currency has a disadvantage when pegged against the US dollar as it stands. Most people are moving to remote work so as to earn in dollars.

In your own country, do people that earn in dollars have an advantage over people that earn with the country's local currency

Yes, earning in dollars in my country does have an advantage but the transfer amount that gets deducted is quite depressing.

 

[Augusta]

Yes, earning in dollars in my country does have an advantage but the transfer amount that gets deducted is quite depressing.

Same here sometimes I see this as bulling. You just take so much fees from someone from just using your platform. it's very annoying

 

[aninditasen]

Same here sometimes I see this as bulling. You just take so much fees from someone from just using your platform. it's very annoying

It is annoying but we have to pay if we have to earn.

 

[magnus2022]

Yes of course! Those that earn in dollars have huge advantage over those that earn in their local currency except if their local currency is higher than dollars. As it stands today, dollar is peg to 1560 naira. So a huge difference. Ixwish i will have opportunity to leave the country now.

 

[mrki444]

From last year I am getting my salary in euros. Now I don't need to convert it when I travel inside of EU.

 

[Augusta]

It is annoying but we have to pay if we have to earn.

Yeah I'm not against the payment but the high fees. it just annoying for me as you pay a high percentage fees for nothing

 

[arunima25]

Yes, it does give a financial edge. And it would be valuable if you have a decent earning. My husband works for an American bank and is paid good in Indian currency. His performance bonus and shares as long term incentive ( for few valuable employees) comes in dollars and that translates into a handsome Indian currency.
But in my case, I don't earn too much with online earnings through various paid to post forums. My monthly income in dollars is few thousands and that is not much to even sustain livelihood for a day or two. I make more than that in a day working few hours, what I would earn in the whole month from online paid to post forums.

 

[Starmix]

Conversion of US dollars to the Philippine peso is so advantageous. Those with relatives in the U.S.A. enjoyed the big money conversion.