Inflation remains to be the consistent driver of exchange rates this month along with a few new factors.
Many countries that were maintaining steady interest rates have decided to increase them due to rising consumer prices.
This month’s changes resulted from specific economic niches ranging from rising prices in raw resources, political instability, and an increase in tourism. COVID-19 continues to impact the economic future of certain nations as travelling restrictions are set between countries.
The COVID-19 Delta variant is widespread in several regions, particularly in Southeast Asia and various parts of Africa. The fear of a second economic lockdown negatively impacted many currencies as countries decide whether to impose further restrictions on the public.
For those who like to organize their expenses, having a budget or a spendable amount is key. In the world of global mobility, the concept of spendable income is a central element for calculating the Cost-of-Living Allowance (COLA). As the Spendable increases, the COLA increases in the exact same proportion, and everything else remains equal.
South Africa had a rough July of civil protests, rioting, and looting. Lives were lost, shopping malls were robbed, shops, petrol stations, and even whole suburbs were burnt to the ground, leaving many without food, supplies, and medication.
Central Banks in many countries adjusted their policy to combat inflation as product prices around the world begin to increase. Countries with increased interest rates have seen an appreciation with their currency.
Massachusetts, like many other states across the United States, has declared a state of emergency in regards to the COVID-19 pandemic. Typical components include mandatory social distancing, travel restrictions, and many other precautions. Concurrently, many Massachusetts businesses have adopted remote working arrangements as a measure to adhere to these precautions, and provide employee flexibility and safety.
Marie joined AIRINC's London office as a Client Engagement Manager in May 2021. With over 13 years’ experience in International Mobility specialising in assignment management, Marie has held various positions working for relocations companies, RMCs and an international law firm
