Uman
Senior Member
Posts: 161
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Post by Uman on Jan 13, 2012 2:39:48 GMT
On UK payroll......
Will the pound appreciate or depreciate from here...?
Where do people see it in 2013 and 2014?
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Post by Mr Barlow on Jan 19, 2012 8:30:44 GMT
Looking at the structural deficits both in terms of Govt Debt and balance of payments my guess would be down.
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Uman
Senior Member
Posts: 161
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Post by Uman on Jan 19, 2012 22:46:47 GMT
Yes, I get that feeling myself.
Here is hoping for a rise for the first 4 months of the year...(when I enter Aramco) and then I can be locked in at a more acceptable rate....
Currently 1 GBP = 5.76234 SAR eg Base Salary 3000 GBP = 17,287
1 month ago , 1 GBP = 5.8432 = 17,529
2 months ago, 1 GBP = 5.9232 = 17,769
3 months ago,( OCT 29th ) 1 GBP = 6.0442 = 18,132
9 months ago (aprox April 25th) 1 GBP = 6.2164 = 18,649
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Post by henpecked on Jan 20, 2012 8:08:24 GMT
Uman You can decide how much money you get paid in Sterling and how much in Riyal. We keep enough for living expenses in Riyal and get the rest (ie the majority) paid in Sterling - you can vary this each month depending on you plans. So you really don't need to worry too much.  |
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Uman
Senior Member
Posts: 161
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Post by Uman on Jan 20, 2012 21:49:42 GMT
Hi henpecked,
As an Australian new hire we dont get that option. 100% in Riyal deposited into a local bank account is what we(I) have been told.
On a yearly basis salary wise, since accepting the offer the offered salary has gone down 5,000$
I would hate it to go lower than this :shock:
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Post by Mr Barlow on Jan 21, 2012 19:03:03 GMT
If you are converting to Aussie dollars then the next few years might serve you well. The fizzle is definitely coming off the commodities boom (slow down in Chindia) along with a slow down in LNG developments due to compeion. With scope to reduce Aussie interest rates considerably I can see a drift down over the next few years especially if that Newport Cretin gets another term. If the fall is faster than that of the British Peso you will be quids in! |
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Uman
Senior Member
Posts: 161
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Post by Uman on Feb 2, 2012 1:23:25 GMT
AUD at 1.07 now to the USD$
Not attractive for Aussies at all.
Brittish Peso.....i like that joke. I just hope it can strengthen over the next 2 months before I sign up.
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Uman
Senior Member
Posts: 161
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Post by Uman on Feb 19, 2012 3:13:14 GMT
Update... Sunday, 19th February 2012, 1 Brittish pound = 5.93178 Go up more please  close to 6 Riyal to the pound (or above) would be best. |
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Post by sixpencenonthewiser on Feb 21, 2012 0:00:06 GMT
British Pound direction -
depends which currency you are comparing against and over what time scale, but if we say over 1 year from now and against the following currencies:
Gold - definitely down
Silver - down
US$ - depends who debases their paper currency the most, but i suspect both will keep interest rates very low and keep printing more, would n't bet on either currency.
Euro - as above but with the added possibility of a sovereign nation default, banking crisis, etc - ie dont touch the Euro with a barge pole
A$ / CA$ - Both have been very strong due to them being resource backed currencies and relatively high interest rates and no money printing. China slowdown will impact commodity prices and affect the strength of these currencies, but still better long term currencies to hold than US$ or GBP.
Safest currencies in next few years would be gold followed by silver (although silver could well outperform gold by a long way but has more risk being an industrial metal).
I think there are ways for an Aussie to deposit salary outwith KSA, no requirement to send 100%.
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Uman
Senior Member
Posts: 161
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Post by Uman on Mar 7, 2012 2:59:07 GMT
New hires in March...
March 1st = 1 GBP = 5.9745
Not sure of my departure date yet.....although March seems good.
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Uman
Senior Member
Posts: 161
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Post by Uman on Apr 1, 2012 22:42:32 GMT
New hires in April..... April 1st = 1GBP = 6.0018 (Riyal) Getting better. However, May is generally weak on world markets and I expect a decline. Still in limbo here.  |
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Uman
Senior Member
Posts: 161
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Post by Uman on Apr 30, 2012 22:39:18 GMT
Well, here we are the 1st of May....
Had my orientation last week (even though BI hasnt cleared yet)
1 GBP = 6.09542 hmmmm going up but still not enough imo
6.09542 * 10% = 5.485878
So IF I fly out this month my preseved rate of exchange would be 5.485878. It would not go lower than this in my entire time at Aramco no matter what the GBP rate is doing. If higher then its all good, hopefully much much higher.
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Uman
Senior Member
Posts: 161
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Post by Uman on May 8, 2012 5:31:07 GMT
I got word that a letter is currently being couriered to my recruiter, who has asked for my passport, which I sent today. So its looking like this month.... 8)
The European economy is looking bleak atm and I think I did well to get this months rate.
anyway KSA here I come.
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Uman
Senior Member
Posts: 161
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Post by Uman on May 30, 2012 22:51:06 GMT
Well,
Will post how it goes.
Here I come KSA.
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Post by carrottop on May 31, 2012 5:15:50 GMT
Great travel wishes for you and congratulations!
What area will you be working in?
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close to 6 Riyal to the pound (or above) would be best.