Middle East & the Dollar
Discussion
My business is primarily in the Middle East though I am in the UK. Have always been paid in dollars, with the Saudi riyal and UAE Dhiram Bahrain dinari all pegged to the dollar I have moaned a lot but as I pay away in dollars there is no real downside to me. A lot of my contacts in Saudi are now saying to me I should look at taking a payment in SAR as its a better deal than the dollar.
I am normally paid around $10000 in USD a month but from November I will be handling around $40-60000 and I could take it either as dollars or SAR, in December it will jump again to around $70-80K. I am not interested in hedging, I'm not a speculator, and I don't need, as it stands to protect myself against movements in any of the currencies.
Thoughts anyone?
I am normally paid around $10000 in USD a month but from November I will be handling around $40-60000 and I could take it either as dollars or SAR, in December it will jump again to around $70-80K. I am not interested in hedging, I'm not a speculator, and I don't need, as it stands to protect myself against movements in any of the currencies.
Thoughts anyone?
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