Kuwaiti Inflation affecting Indians!
Off late , this has been a major problem, i hope the Kuwaiti Government can do something about it. With the recent great achievement by depegging the dollar due to the failling US economy , Kuwaiti Dinar has averted a major crises. But somehow since its still related to the US dollar due to Oil sales and other related deals , the falling USD still have quite some say.
For indians in Kuwait, this has created a problem. In the past, 1 KD could fetch 150 Rupees, which could earn a decent meal(lunch and dinner) for 3 days back in india. Today 1 KD is getting only 138 Rs. Well ,this has been because of the rising indian economy due to businesses flourishing back in India. But with the major US economy downfall . Indian rates have been a problem for us here.
Seconldy with the rising inflations , things are getting more and more expensive here in Kuwait. For example, an average Indian clerical staff gets around 250 to 3oo KD as salary. out of which he spends around KD 100 as rent(if he is a bachelor), KD 50 on food , KD 50 as misc. Which leaves him with KD 100 , which he saves to send back to india … Now KD 100 with todays rate is Rs 13,800 … which is hardly anything , to what he used to get in the past( he would have got Rs 15,000, about KD 10 more)
With the rising inflation, i dont think his salary would increase!.. So more costs here in kuwait, less FOREX value.. so less money to send to india.. There are rumors , if the Rates fall even further .. like if it goes to KD 1 = 100 Rs . There would be mass exodus of Indians from Kuwait, to go back home… Unless something happens and Kuwait gets revalued properly …. things dont look good for us indians.
Im just wondering, what about the maids, drivers, cleaners who get less that KD 50 per month … i wonder how they go through these FOREX crises…. its SAD situation.
(1 votes, average: 1.00 out of 5)
Loading ...
Loading ...
When I first came to Kuwait in 1992, 1 KD was less than 100 rupees.
The steady increase of KD versus the rupee made me feel that I was getting an increment every year.
Now it feels exactly the opposite.
Back in 95 , 80KD was 10,000 but then the prices were cheap … think once again the black market [ hawala] will flourish …
Cajie : i think i can barely that. But those days ..i dont think there was inflation here and things in india too was extremely cheap.
Grey : i was in Goa , last september .. i had a visit to the Black market.. shockingly , their prices was worse than the legal channels.. i had a chat with a guy i knew, he was like with the constant drop in FOREX … they cant afford to do business in BLACK.
But didn’t Kuwait “disconnected” from the USD$? I read about it in the news paper few weeks ago.
It’s all about demand and offer. As you said, if it’s no longer worth the trouble of coming to Kuwait, then they will start to refuse, or put minimum higher salary weight like phillipine government did. If you noticed, the trend now is shifting to phillipine and sometimes other nationalities, and India required salaries for technical jobs for example are no longer achievable in Kuwait. Indians are hard workers with lower salaries so companies used to hunt them, but now it’s shifting. Another possibility is outsourcing to India, which is back firing at Kuwait it self I see it.
Wataniya telecom is hiring phillipinos like crazy and the reason it’s a good offer is because here they don’t pay taxes. Do you pay taxes in india? For housemaids, it depends on the house she is in. For example my housemaid does not have to pay for her food or primary needs. She gets some of the luxuries for FREE sometimes as well. So most her salary she could hold on to and send back to her country, and she is not affected by price inflation.
Is KD 600 a decent salary for a bachelor? Without accomodation and food? Also how much can I save and send back home in India? A reply will be really a great help.
i am getting salary of 1400 KD / month in an IT company. Is this a decent salary for kuwait?
Please help me replying on this. I am having my family also.
Also can someone tell me what is the good salary for IT with 9 yrs of experience at kuwait
Hi Shamin, please what’s your education and experience? Your salary of KD 1400 seems to me very good.
r u guys crazy
Freinds.. I got offer of 1200 Kd today.. Looking at current senario I hope declining USD:RS ratio will fatch some more KD in our hands…? What do you say?
Hi,
I am currently working for infosys,Bangalore. I have around 3 year of experience in software. I have done my B.Tech and M.Tech in electronics. I am intrested in job at kuwait. Can anybody suggest me what are the ways to search for a job at kuwait and what is the salary range for my profile.
Is there any way i can apply from india and attend interview and then directly land at kuwait with offer?
Please help me out.I am in lot of family problems.
[...] BAD IDEA magazine | Foreign Office Play Forex Markets, Wish They'd Stuck To BlackjackAyanas Blog » Blog Archive » Get Transformers – Villains – Ultimate Doom Parts 1-3 Onlinedrunk ex girlfriend » Blog Archive » Transformers 2 Movie – ex-girlfriend revenge of the FallenKuwaiti Inflation affecting Indians! | Rayboy [...]
how we can cancel 18 no visa from yur home country