How does the sudden deterioration of the dollar rate affect your lives?

From January to December, the dollar's value have lowered down by 20% and that's huge. Now, I don't feel like it's worth earning some dollars online anymore. What's your say?

 

Increase your rates to cover up the loss suffered

 

The value of dollar against the major currency is decreasing and that is determined by the international financial forces. Those earning in dollars will definitely feel the pinch. Either you earn extra dollar to offset the depreciating dollar or change your currency that you feel worthy

 

I ean more so still is ok but i am worried .....

 

The dollar is pegged to the currencies I convert into - so not too worried

 

I was a manager in an outsourcing company that had 7500 employees in Cebu back in 1997 and the Philliphine Peso/Dollar exchange rate was driving us into bankruptcy.

Just before the Asian Financial Crisis the exchange was 26 Peso = $1

The last few years the rate has been 55 Peso = $1 and I don't think you will get that again for a long time.

Looking at the historical trends you should be pricing out your jobs based on a rate of 30 Pesos to $1 and any favaroable exchange rates will be a bonus to you.

 

Thanks, bogart. I agree with you on this. $5 an article is not worth it anymore these days so eventhough I still write, I'm slowly creating my own sites now (starting with my blog) and earning through adsense for now. It's just alarming though how the dollar rate drops like that. It's not just with the peso-dollar rate... In the past, the dollar rate is worth less because the Philippine economy was better than it is now. Now, it's a different case. The peso-dollar exchange rate drops significantly because America's economy is the one with the problem. It's so sad... Once the dollar rate drops, the whole world suffers. Why oh why?

 

I too am feeling the pinch. I wish the falling USD exchange rate is also being followed by a fall in prices of basic comodities and utilities.

 

I do wish that's the case but it's not

 

i get $2 to every £1

works fine for me

 

It's really annoying me, i'm getting less on the exchange from $'s to £'s from everything, can't really change my pricing either. Adsense is all done in USD so that isn't much when I get a check through.

But then again, the £ is going down too.

 

It is pinching my ability to buy products from europe and our inflation rate is rising because of it.

 

I just deal in £ and end up with even more $. Well, most of the time.

Considering that China has something like a trillion in $ reserves... Just imagine how much worse it might get if they were to dump it. Now that's scary.

 

When that happens, the Americans might start migrating.

 

Why not change your rates to euro? That way you won't have to change your rate all the time.

 

What you can do to help mitigate the unfavorable exchange rate is phase out unprofitable services.

Before you let the quality of your service suffer or lose money, increase your rates by 20%. Consumers in the US are paying more for imports due to the decrease in the dollar and will understand that you will need to increase your rates.

Better yet price the work in pesos and have a script the gives the different exchange rates in US, Canada, Pound, and Euro

 

Its only 20% ffs - not like its the end of the world.

 

You should increase your rates to $10. That's the sweet spot now.

Where do you sell your services do you have a website?

 

Yes, I do. The link's on my signature