If you are an expatriate, then January may be a good month to send some cash home as the dollar is expected to appreciate in value soon.
And exchange houses in the country are gearing up for a surge in remittances this month, according to a report in the Gulf Times.
“If the US dollar continues to maintain its strength, the dollar-pegged Qatari riyal will provide favourable exchange rates for expatriates as their home currencies are likely to depreciate further,” Mathai Vaidian, country head of Qatar-UAE Exchange, was quoted as saying by the daily.
The currency volatility in 2016 saw a general surge in remittances from Qatar, especially to Europe and South Asian countries, he said.
The upcoming inauguration of president-elect Donald Trump on January 20 is expected to be a factor in the US dollar’s strong rally.
Will you be sending more cash home this month?
I have never bothered to know the exchange rate while sending money home.
Agree with Brit. Even I don't wait for the exchange rate to go up.
yes that's correct..but in some cases if the exchange rate is good we used to borrow money from our friends and would send to our home country....plus some of them have got the habit of checking the flight ticket rates for the next vacation( after 6 months & the gold price in india regularly etc etc....
How many of really look at the exchange rate ? Most of us send money every month because it is needed there