ln my country the earning of dollars is somehow better compared to the earnings of the local currency. However the price keeps on changing frequently.
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Does earning in dollars give a financial advantage in your country?
- Thread starter King Belieal
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- #22
In my country right now, the local currency is valueless because of the very high inflation. People that are earning in dollars are the ones that are finding the economy somehow balanced for themselves. But you still need to earn well in dollars too.
When you earn in US dollars in my country, it is almost like you are earning triple for the same level of work with someone earning in Naira. That currency keeps fluctuating like what I don't know.
That's true but we have to pay if we have to earn. In my country, India now most online earning sites are scammers.
Not directly, because most remote work is just side hussle, so even though it will increase per capita income, it has little impact on the national economy.
Yesh especially in our country Nigeria. One with 50 thousand and another with $50 will have more money after exchange
Currently, my answer is a resounding yes, as the value of my country's currency has depreciated.
- Thread Author
- #28
Earning in dollars could give you more money overall. But the other side of it is that prices of goods and services are still rising haphazardly.
Yes every good thing comes with it's bad sides. You gain more money when you exchange your dollars but buy things higher amount too
Somehow that can give one a small increament to the actual local currency.
In my location, Hong Kong dollar is pegged with US dollar. So it doesn't matter if you earn in US dollar or the local currency. That said, there may be a risk that the pegged rate may change. In that case, HK dollar my depreciate. So, it is still safer to earn US dollar.
- Thread Author
- #32
If the currency of your country is at par, it implies that the economy of your country is quite healthy. The US dollars is miles ahead of my country's currency.
Yes, I like to get my money in dollars as I would gain more when I do the exchange. So anyone can dash me dollars here
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US dollars give big advantage in the Philippines for those who are receiving allotment though it weakens the Ph peso.
Nah I live in Europe but for other people it might be worth more I heard that some people hire people from Africa to do job for them much cheaper not sure if it's legal tho
Same here in my country as dollars really weakens the naira. This is why they had to stop dollars transaction in my country.
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The dollar transactions here in the Philippines do not stop as it is the means of sending money to the families from the relatives abroad.
Okay. good for your country Mate, but I think the people that were ysjg it here were just abusing it so they had to stop
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It does give an advantage in my country because oof the value of the US dollar. Just imagine $20,000 if converted into Pesos, the conversion is P 1,000,000,000 plus.
No it can't. That is because the Kenyan shilling is doing so good in the world 's economy. That is why there is a slightly difference on the exchange.