As many regular readers will know, I sometimes supplement my income by writing posts for companies that want some links placed, or products reviewed. The vast majority of them pay via PayPal, and in US Dollars. In the past this was not too much of a problem, but having just checked my balance today, I can see that the weaker dollar means I am earning less and less (in UK pounds or Kazakh tenge) for each post I write.
As an example, my current PayPal balance is $171.05, which just a month ago would have equated to around £85. However, if I currently withdraw that money into my nominated UK bank account, I will get just £78.98. Whilst this may not seem a lot in isolation, over the course of a month or even a year, that means losing around $800 in currency exchanges. Of course, the dollar may well bounce back, and I can start looking at an exchange rate of around $2=£1 again, but until then, I’ll just have to hope the US politicians decide they no longer want a weak dollar, though that would obviously make US exports seems less attractive.
Never thought the US economy would effect my income so directly!
Nov 09 2007
Weak Dollar Is Hurting My Income!
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