Currency exchange rates 'good for some expats'

Currency exchange rates will be of benefit to some expatriates, it has been claimed.

According to Maktoob Business, European expatriates in the Middle East will have seen their salaries jump by around ten per cent this year.

This is down to changes in currency exchange rates following the Greek debt crisis and ongoing concern about the UK parliament's ability to cut Britain's national debt.

Pradeep Unni, senior analyst at Richcomm Global Services in Dubai, told the news source that further fluctuations are likely.

"The markets will be volatile. There will be enough hiccups on the way that can cause further decline [in the value of the euro and the pound]," he said.

Middle East countries also witnessed a sharp increase in international money transfers back to Europe.

A "40 per cent increase in volumes to Europe" was reported to Maktoob by a manager at Al Rostamani money exchange at the Mall of the Emirates in Dubai.

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Posted by Eleanor Ward