Weakening US Dollar Hurts Malaysian Webmasters
Posted on 12th June, 2007
Anyone who is not a US citizen, working on the Internet and get paid in US dollar is feeling the pinch of the weaker dollar.
At the same time, the local currency, Ringgit Malaysia is moving in the opposite direction and is getting stronger by the day. That means the checks I get from Google AdSense, or affiliate commissions from CJ worth less today than they were just a month ago.
If you are a blogger doing pay per post at your blog, you are actually making less money for the same amount of work.
You can choose to receive payments in Ringgit Malaysia if this option is available but from my experience, the service charge for such service and exchange rate they use are probably costlier than when you opt for US dollar payment and exchange it yourself at your local bank.
On the other hand, I can afford to spend more on Internet advertising now such as in my AdWords campaigns. But there’s no escaping that the amount of advertising dollars I could put aside will continue to shrink because of the weakening US dollar. The only way to get around this is to work harder.
Those who just got started probably do not see this as a bigger deal as those who have been paid in US dollar for years. But trust me – it hurts.
That said, because of the higher value of the US dollar, I am still earning more than if I were to get paid in Malaysian Ringgit. So it’s not the end of the world.
A US 5,000 for example is still worth about RM17,000 today. Bottom line is you have to work harder to earn the same amount of money today than before.