Many countries have been negatively impacted by the Russian-Ukraine conflict.
The invasion of Ukraine and the resulting economic sanctions imposed on Russia created an instability that is affecting the value of the ruble and the prices of Goods & Services.
In late February 2022, Russia invaded Ukraine by means of airstrikes and infantry. This major conflict has driven several countries’ currencies to depreciate as political stability decreased in the area.
Economic challenges exist when relocating employees within the United States. Employee and family concerns often center around the financial impacts of a move.
Turkey’s annual inflation has been soaring to record-high levels since the currency devaluation triggered by interest rate cuts last year.
As we review the ongoing crisis in Lebanon, our data and client engagement teams have paired up to provide information about the markets and details on how organizations are handling the challenges associated with inbound and outbound Lebanon assignments.
With the ruble falling almost 15% over the weekend, you may soon be hearing concerns about Cost of Living Adjustments (COLAs) and exchanging money from your assignees in and out of Russia.
Many of January’s exchange rate fluctuations result from interest rate changes during the latter half of 2021.
Do you have a reliable source for inflation data? Current inflation rates are making employers rethink their approach to pay increases for 2022.
In countries with unstable currencies it is common for employees to save and spend some of their salary in hard currency.