The Great Britain Pound (GBP) has been on a
downward path post-Brexit. It hit a 31-year low last week, resulting in a loss
of up to 18 per cent of its value but
profitable to the Europeans residing in the Gulf Cooperation Council (GCC)
countries of Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates.
With the GCC currencies pegged to the
dollar, the weakening of Sterling has positively impacted remittances. At UAE
Exchange, our remittance volume from the GCC to the UK showed a steep growth of
135 per cent the past week vis-à-vis the same period during last month.
Though uncertainties prevail around the
UK’s economic prospects outside the EU, British expats are cashing in on the
favourable exchange rate and remitting to their home country.
Promoth Manghat, CEO, above, UAE Exchange.
We are delighted to announce that we’ve
arrived safe and sound in Japan! We are
kennelled in the quarantine facility for the next month and can’t wait to be
allowed out to explore all the greenery.
We would like to thank our Aunty Sarah
Clarke who helped us to write our GulfWeekly article. We’re sad that she is
still living in Bahrain and that we can’t give her a sloppy kiss. Our human
family hope she will come and visit us soon.
Please remember that you can always take
your pet with you wherever you go in the world with a little advanced planning
and support from your friends.
Kisses and wags from
Pearl and Maximus, ex-residents of Bahrain
and former rescue dogs from the BSPCA.