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

[Augusta]

Earning in USD opens up international opportunities for investments, savings, and access to a broader range of financial products and services compared to those earning in Naira.
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[arunima25]

The current rate of US dollar is 85.52 Indian rupees. So, yes it does give a good financial edge if your earnings are in dollars.

 

[Starmix]

There is also a better advantage in my country once a dollar is converted to peso. One dollar is P 57 pesos. Happy would be those families with siblings working in the USA.

 

[arunima25]

@Starmix . Yes, it does give an advantage for those who earn decent amount in dollars. My husband works in MNC. His salary is in Indian rupees, but for his performance he gets shares that are in dollars. So, that does add some advantage. As far as my online earnings go in dollars, I hardly make the amount in the whole month what I would make in one hour of my offline job.

 

[Fire&Rain]

It definitely does. With just $1000 i can be able to survive for 5 months without any other income coming in. $1000 to my currency is P13’292.71.

 

[arunima25]

1000 US dollars in Indian rupees would be 85000. That's a decent salary that any middle class young person in his late 20s or early 30s gets after tax deduction. And this is for those who are college graduates and professionals. This might not be good enough for those living in expensive metro cities and having a family to run.

 

[Fire&Rain]

$1 converted to my Currency is P13.40. That's is a massive advantage. I know if i make $300 i have P4020 which is more than enough to sustain me and my whole family for the whole month.

 

[Tray59]

In my country earning in dollars has a very big advantage because from what I know if you convert just one dollar to my country currency it's definitely transform too big.

 

[Stardom22]

That depends on the variation between the value of dollar to the local currency for that matter. In my country the deviation is not that big to make any significantly financial advantage