The Value of $1000 for me ~

in #hive-1860422 months ago

This is an entry to "What's the Value of $1000 to You?"

So, what's $1000 to me? I have many answers but I'll keep it brief and talk about money in Libya.

Libyan Dinar compared to USD is measured in two ways. The official Bank price, and the Street Price, (also called the "Black Market" Price.)

The Bank Price, which is the one you'll find by searching Google, is very hard to get USD in Libya. It's cheaper. Sometimes it gets more than %5-10 cheaper than the Street Price. That's a big deal if you know anything about currency trading!

Everyone I know deals with the street price. Anything imported from other countries is priced accordingly, which makes things more expensive than they should be. Considering the salary of a normal Libyan. It feels unfair sometimes.


So, what's $1000 to me?

  • 6x all of my monthly cryptocurrency "liquid" income! (Staked/Saved/Donated income doesn't count here. I have a long-term plan.)
  • 5x the monthly salary of a new Civil Engineer I know.
  • 3x the monthly salary of the average school teacher. (After the salary increase.)
  • 2x what a family like mine needs to live comfortably in the current economical situation.

I wanted to give accurate links, but I didn't find any website in English that shows real numbers. The median salary on this link for example is so inaccurately high it's disgusting! Researching for this made me really sad.

That's about it... My family struggles but manages to sustain itself monthly. It's impossible for one working person (with a normal job) to support a family in the current economical situation, but we hustle, as most Libyans do, so it's okay. I guess. (My hustle is Hive.)

I invite @ojak, @mehmetfix and @ackza to join this contest.

~ Thanks for reading ~
Copyright Notice: CC-BY


Having a different exchange rate between bank and "street" is a dirty way to hide the "real numbers" from the outside world... But, it always works only for that, for "marketing purposes", as industry and people are using the market value, which is in your case, the street value...
Thanks for sharing this REAL information about the economic situation in Libya...

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Yeah, it's sad... It's actually a bit better this year than it was years before, the difference reached %50 in some years.

Yay! 🤗
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Ah yeah I thought about joining yesterday when you posted this as a buzz but forgot today.
Thanks for making me remember again. 🙂

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Aquí en Venezuela también se maneja la tasa del banco y la del dólar paralelo, además de la que cobran los diferentes tipos de negocios, es algo que nos pone contra el suelo ya que no sabemos el precio real de los productos ya que cada quien al dólar le pone el precio que mejor le parezca. Es bueno conocer los parecidos que nos unen, a diferentes piases. Te deseo suerte en el concurso. Bendiciones 🙏🏼🤗💖☮

Here in Venezuela, the bank rate and the parallel dollar rate are also handled, in addition to the rate charged by the different types of businesses, it is something that puts us on the ground since we do not know the real price of the products since each one dollar puts the price that seems best to him. It's good to know the similarities that unite us,
to different countries. I wish you luck in the contest. Blessings 🙏🏼🤗💖☮

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Here in my country Nigeria, we have both exchange means and both are accessible. Though the exchange rates differs from person to person and the differences isn't quite much. I haven't had the chance to exchange currency lately so I can't give the actual figure for the black market exchange rate. Goodluck with your entry