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The Financial Express

Depreciation of taka benefits Bangladeshis in Qatar

| Updated: January 15, 2018 12:08:28


Expats in queue at an exchange house in Doha. - Peninsula Qatar Expats in queue at an exchange house in Doha. - Peninsula Qatar

Bangladeshis, among all the expatriates in Qatar, benefitted most by currency fluctuation last year.

Bangladeshi taka depreciated by around 5.0 per cent in 2017, giving the community of expatriates extra value for their money. 

Bangladeshi taka weakened to 22.73 per riyal at the start of the year to 21.66 per riyal at the end of the year.

However, Indian and Nepali expatriates were impacted negatively as their currencies strengthened during the year.

Indian Rupee strengthened by 7.0 per cent while Nepalese currency appreciated by around 5.0 per cent, eroding earning of expatriates of these countries.

A depreciating currency augurs well for expatriates because they get additional income because of decline, reports, The Peninsula Qatar.

The ICE dollar index, which measures the dollar against a basket of six other currencies, fell nearly 10 per cent in 2017.

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