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UAE expats face squeeze
- United Arab Emirates: Sunday, September 23 - 2007 at 07:21
Expatriate workers in the UAE are being hit by inflation rates of around 9.3% and currency depreciation, reported Gulf News. The Indian rupee has risen more than 14% against the dirham since the start of the year, while the UAE's dollar pegged currency has fallen 17% against the euro over the past 18 months. Expats have seen both their savings potential decline and their day-to-day cost of living spiral.
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Jonathan Sheikh-Miller, Deputy EditorSunday, September 23 - 2007 at 07:21 UAE local time (GMT+4)
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