SINGAPORE EXPATS FORUM
Singapore Expat Forum and Message Board for Expats in Singapore & Expatriates Relocating to Singapore
What Currency are you paid in?
What Currency are you paid in?
Are most expats paid in local SG currency or their own currency?
How about expats in 'local packages'.
In the last three months, SG exchange rates to Britsh Pound and/or US Dollar has been moving considerably, albeit in different directions...
How is this affecting packages or currency paid in?
How about expats in 'local packages'.
In the last three months, SG exchange rates to Britsh Pound and/or US Dollar has been moving considerably, albeit in different directions...
How is this affecting packages or currency paid in?
Re: What Currency are you paid in?
I moved here in June, the USD was practically at an all time low vs. the SGD. I had the option of USD or SGD. Just thinking logically, I thought, how much lower can the dollar go? This has the be somewhat of a floor and it can only go up. After some research and so forth, I chose USD.stacey wrote:Are most expats paid in local SG currency or their own currency?
How about expats in 'local packages'.
In the last three months, SG exchange rates to Britsh Pound and/or US Dollar has been moving considerably, albeit in different directions...
How is this affecting packages or currency paid in?
Since the USD has bounced up (thanks to the economic crisis and everyone flowing the the USD), my salary has practically increased about 10% as the USD went from 1.33 to 1.52 since being here.
I think it also depends on if you have any SGD direct deposit. My wife got a job here and is on a local package. So, we are able to hedge both ways. Right now, I'm using my USD credit card as much as possible!
thanks for the reply... I very much appreciate it.
Also, congratulations on making the good choice of USD and benefiting from the appreciation of the USD lately. Other than a bit of luck, you seem to have made a pretty intelligent and informed decision...
Are you in Finance/Banking or just like to research the FX/FI markets on your spare time?
How has your first six months been so far? Living wise and job wise. I'm thinking the job part is much easier than the living part; on the other hand I hear the financial sector (among others) is pretty bad. But it is not as bad as NYC or London; or, maybe it's just as bad, except for the small fact that some ny/uk jobs are being moved there now give the situation...
Also, congratulations on making the good choice of USD and benefiting from the appreciation of the USD lately. Other than a bit of luck, you seem to have made a pretty intelligent and informed decision...
Are you in Finance/Banking or just like to research the FX/FI markets on your spare time?
How has your first six months been so far? Living wise and job wise. I'm thinking the job part is much easier than the living part; on the other hand I hear the financial sector (among others) is pretty bad. But it is not as bad as NYC or London; or, maybe it's just as bad, except for the small fact that some ny/uk jobs are being moved there now give the situation...
- Strong Eagle
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Our payroll check is in US dollars deposited in a US bank. We use a currency exchange service to transfer money into our DBS account as needed.
We have an expat package, with a cost-of-living adjustment, adjusted quarterly accommodate changes in the currency exchange rates.
Our business expense reimbursements and car allowance check are written in Singapore dollars, directly deposited into that DBS account.
We do not have a Singapore credit card, and pay cash for most purchases, and NETS for others.
Hope that helps!
We have an expat package, with a cost-of-living adjustment, adjusted quarterly accommodate changes in the currency exchange rates.
Our business expense reimbursements and car allowance check are written in Singapore dollars, directly deposited into that DBS account.
We do not have a Singapore credit card, and pay cash for most purchases, and NETS for others.
Hope that helps!
- sundaymorningstaple
- Moderator
- Posts: 39866
- Joined: Thu, 11 Nov 2004 1:26 pm
- Location: Retired on the Little Red Dot
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