Wednesday, September 26, 2007

EUR = $ 1.42

Dubai rents set to soar 26.5% over next two years. (more here)

The number of cars in Dubai is increasing annually at the rate of 17 to 20 per cent, which is the highest in the world, compared to two to three per cent increase in developed countries.

And yet people continue to flood into the Sandlands, in spite of horrendous traffic conditions and galloping inflation.

When I came the exchange rate was EUR = US$ 0.83.

My financial obligations back home haven't changed.

Nor has my remuneration in the shrinking local currency.

Scary? Yes.

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