Riyal to be revalued?

how can you lose something when it wasn't yours in the first place? hey, the qatari riyal & dollar never changed since the past years. its your peso, your country's inflation, & your people's additction to import products (clothing, mobile phones, coffee, etc etc) that weakened your buring power.

Merry Christmas to all.

The Red Pope of Qatar Living

Thanks so much Red_Pope, I really appreciate your input.

Merry Christmas to you and your family.

In reference to your admin fees, they should be in your contract that you sign already.

If you are asking me for my opinion about selling out?

Well, If you make a profit in the sell, that is fine. If you are strap onto a tight budget and is becoming a burden, then sell out. Don't sell out lower for what you paid for, try to make a profit of 5000 USD or 10000 USD for what you bought it originally. It all depends on the market ability to sell off the properties and Location.

If you own the property and no monies are paid out to the bank, then rent out for a period of time. Considering the longevity of your stay in Doha. Then sell out, that is, If you are not in a hurry to sell out.

Renting as a long term option is good, because it helps you subside your monthly mortgage payments or it will give you a second income, If you are free of indebtedness and monthly mortgages.

Is all up to you and good luck.

The Red Pope of Qatar Living

Hi Red _Pope,

I can tell you are well informed about investments. I just bought a flat at the Pearl Qatar and would like to hear from you if I should sell it as soon as I can, or leave it and sell it later on. Also, do you have any idea about the administration fees, when do I have to start paying them?. Is it the day that I move in, or the completion date?

Any information would be very appreciated it.

re-evaluation of riyal will take quite some time. They cannot just come and announce that riyal has been de-pegged from dollar. It is not so easy as it seems, specially when all their foreign reserves are in dollars.

Easier said than done.

Lets see how the banks get rid of their foreign reserves and at what rate do they sell their dollar reserves in the open market.

@pope, sorry for not replying sooner, just arrived in London.

I did not read about the Afghan 'discovery', but it'll only be a matter of time before company's come in to 'help'.

The funny thing when it comes to currency conversion is that time is money, however sometimes waiting is the better option.

@think,

1/ If there are possibilities that riyals will be revalued in coming months, will you consider putting your hard-earned (or easy-earned to some) salaries here, wait til revaluation and then transferred? (interest rates here are so low... Worth waiting?)

1. To be honest, I would. I'm sure alot of investors would do the same thing. In turn, investing the countries salary would boost it's value.

However invest it through something that you could actually get your money back with like real-estate.

2/ Is it likely to be one-off, or in stages (like China's 'yuan' which appreciates over 2 years)?

2. There are three aspects to look at when it comes to Qatar's currency. Investment, Unificiation of Gulf currency, and the peg.

3/ How much could Riyal be revalued? Will it likely be small, e.g. 1-2%? Or bigger?

3. I assume you mean in comparison the Dollar. I'd say it would be a considerable ammount. Mainly because leaving the dollar means that we'd have a stronger currency valued higher than a currency that is already decreasing. The percentage can be seen in the form of two people walking away from each other, the gap increases (the percentage).

If you want to be a sniper, do what red said and wait until there is more solid word and then snatch up your chance, but don't wait too long, I imagine things to shoot up fast once there is news.

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Chinese subject:

I just like to add something else to your statement, not only the chinese have their OWN ways in dealing with others: such as road construction, Hospitals and many other forms of humanitarian Aid. They are expert dealers in "Donating Weapons from their own ARSENAL". Lets take a look at Sudan and their weapons inventory, are all chinesE made.

The Chinese do not adhere to any western nation rules of engagement, that are fighting the terrorist, if does not support their own needs. This will a different thread and lets go back to the Riyal.

Riyal subject:

Traditionally and Normally people will try to exchange their Riyal to the currency they are pegging too. Just for better exchange rates.

I will wait and see what they are going to do. Just watch the best markets of currency exchange values to the british pound and then make your move. That is just a suggestion.

Unless Amnesia has a better idea.

The Red Pope of Qatar Living

Hi guru,

Questions ---

1/ If there are possibilities that riyals will be revalued in coming months, will you consider putting your hard-earned (or easy-earned to some) salaries here, wait til revaluation and then transferred? (interest rates here are so low... Worth waiting?)

2/ Is it likely to be one-off, or in stages (like China's 'yuan' which appreciates over 2 years)?

3/ How much could Riyal be revalued? Will it likely be small, e.g. 1-2%? Or bigger?

I am changing my Riyals into British Pounds to transfer home to offset weak USD. So I want to see if I should change my practice

Think2

RED_POPE,

Absolutely no NATO for protection. Chinese have their own way to negotiate with others. Many big names are not successful when they try to get into the Chinese market as they don't see through it.

Think2

Did you read the news on Afghanistan?

The chinese signed a deal with the Afghan Government to start exploring their copper.

http://www.afghanistanwatch.org/2006/11/9_companies_bid.html

But the problem is the continues fighting that goes on. I wonder, How they are going to deal with the Taleban and al Qaeda incursions.

I hope they don't depend on The NATO forces to give them security.

I always said: the chinese are the modern " Genghis Khan" of Asia.

The Red Pope of Qatar Living

As for Apple stocks go, I surely did.

I had to diversifies my investment porto folio, trying to generate more substantial cash flow.

When the Brazilian Oil company discovered more Light crude oil, I did not realize and forgot that I had bought 4 thousand shares from them about 8 months ago. Their stock sky rocket ridiculously, I wish I had put more money into it. I did shifted to investment of gold and silver and has paid off.

That what happens when you are focus with other areas of your portfolio and finance, specially researching and digging around for solid long term investment.

I'm glad that I pulled out of the real state investment last year. I knew something nasty was going to happen. I'm just holding for what I got in hand, when it comes to Real State.

The Red Pope of Qatar Living

Here's as far as I know. (I may be wrong)

Question:

Is the Gulf Union is including other Arab League Nations from Africa?

Is the Gulf Region including Iraq and Iran?

It'll be for GCC countries. It will not include Iran and Iraq.

They came so close to an agreement, however it was Saudi that squashed that from moving forward. However talks have started again.

I wanted to invest in Apple two years ago but never got round to it. Apple will only get stronger IMO. Invest more if you can, especially since the worldwide release of the iPhone is in Feb (second gen) and the UMPC.

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Question:

Is the Gulf Union is including other Arab League Nations from Africa?

Is the Gulf Region including Iraq and Iran?

That is going to be just way too interesting . I hope the model their Union like the Europeans did.

One for all currency.

The Central and South American Nations were talking about having their own currency, that included US and Canada in high secret diplomatic reunions.

But guess who shot the Idea in the head?

Not the US, it was Mexico, Venezuela and Brazil. Major Oil exporters from that area.

the other nations were quiet about it.

Lets not forget the Asian Nations are in talks about having their own confederacy and currency.

This world is getting nuts and more nuts.... and be careful with freaking China and India , they are major players right know in our world......

I lost some money here and there but gain some more in other areas, so far I have broken even in my investment. Got to love Apple stocks, so nice......

The Red Pope of Qatar Living

Exactly, was watching a news bite about it yesterday or the day before.

Kuwait has moved to a basket of currencies, however shifting to the euro directly would be a waste of time until the Gulf Union Currency is either turned down or accepted.

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Here is the catch:

When the US economy sneezes, the whole world catches a cold..

The only reason OPEC is pegged to dollar because it WAS the most profitable bill-note in the market. That is how they bought the oil in dollars and is not any more profitable.

I believe they will un-peg eventually.

Question is: Why Kuwait has not Peg to the Euro yet?

The Euro Is more valuable than the dollar.

The Red Pope of Qatar Living

I remember mentioning this a few weeks ago but nobody believed it would be true :P Let's hope that now that it's in the news, things will progress.

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Fortunatly my accomodation is provided but I actually get paid in dollars so I'm going to get screwed over a bit when this happens. I am moving some of my money out of the my stateside bank and into an account here though so I won't get hit too hard.

it's about time they make that decision... I've lost more than 20% of my income sent home since the dollar went into a free-fall.. and there has been no let-up in rising rent prices here. :(

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did you read todays newspaper?

the Dubai Financial center head says Qatar and UAE will be the first countries to revalue their currencies in the next few months