European Expats in UAE Cashing In

As many of us are patently aware, currency conversion rates can make a significant impact on an expats finances. Of course conversion rates swing and roundabout; sometimes they’re in your favour, and sometimes against. For European expats living and working in the United Arab Emirates, the experts tell us that the conversion rate just became very beneficial indeed.

Over the last few months, the value of the US dollar has been on an upward trajectory, fuelled by the USA’s economic recovery. The fact that other countries like Greece and Russia are struggling financially makes the surge in the value of the US dollar even more impressive (and valuable).

That’s all well and good, but the real question is how the price of the US dollar really benefits expats in the UAE? The answer is a simple one; the official currency of the United Arab Emirates – the Dirham – is pegged to the US dollar. A high-valued dollar therefore also makes for a high-valued Dirham.

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