With Dh1 at ₹24.32 in UAE, should expats move fast or let volatility decide next?

Dubai: One UAE dirham now buys 24.32 Indian rupees, the strongest rate in months and a boon for the millions of Indian expats here. This marks a clear uptick from 24.21 a week back, driven by the rupee's slide against a steady dollar-tied dirham. Rates have pushed higher since mid-November, with yesterday's 24.3 level already standing out in 2025 records.

Rupee pressure mounts

India's currency struck a fresh low of 89.9538 per dollar on Tuesday, while offshore quotes slipped to 90.15 as US trade negotiations drag on. Steep American tariffs, among Asia's toughest, batter Indian exporters and swell the trade shortfall, fueling dollar hunger as importers chase pricier gold, silver, and other metals. Demand outstrips supply in forex markets, leaving the rupee exposed. ​

The Reserve Bank of India has sold dollars now and then to steady swings, but spares its reserves amid a hefty $64 billion short position in forwards. ​

Expats seize the moment

For Indian expats in the UAE, these rates mean bigger rupee hauls from dirham earnings, perfect for family aid, school fees, or home loans. Remittances to India keep surging with double-digit gains forecast through 2025, per global watchers like the World Bank and UN updates. One dirham sent today stretches further than earlier in the year, when rates idled around 24 or below.​

Smart expats avoid all-in bets on peaks. They spread sends across days, securing chunks at highs near 24.3 while hedging dips. Regulated digital platforms shine here, offering live rate watches, auto-schedules, and send tracking for safety and compliance with rules. Skip cash carriers; stick to licensed banks or exchanges to protect your funds and avoid headaches. This setup turns currency flux into steady support for kin in India.

Market ripples spread

The rupee's dive already nips at stocks. Monday saw the Nifty 50 touch a daytime high before fading amid currency jitters. Foreigners pulled $16 billion from Indian equities this year, and further weakness could fan inflation driven by fuel prices. Yet optimism lingers on trade deal hopes and potential US rate easing, which might lift the rupee back toward 88.9-89.8 soon. India's lag in sealing a US pact, unlike its peers, keeps pressure on.