Rupee, peso weakness boosts dirham's remittance value: Should expats send money now?

Dubai: Weakness across Asian currencies is still working in favour of UAE expats, letting them stretch every dirham further when remitting funds home. The Indian rupee, Philippine peso and Pakistani rupee are all hovering close to some of their lowest levels in years.

The Indian rupee has opened around ₹26.01 levels against the dirham, slightly lower than yesterdays open. Exchange houses report that a number of families are dividing their remittances, sending a portion now while keeping the remainder back in anticipation of further rate movements.

Peso slips amid political and economic strain

The Philippine peso (PHP) is trading at roughly 62.78 per US dollar and about 17.01 per UAE dirham (AED). Changes in oil prices impact the local currency because the Philippines imports most of its oil. Expectations that the US Federal Reserve may keep rates high have strengthened the US dollar.

For now, favourable rates are prompting households to reassess strategy, deciding whether to lock in current levels or wait for another shift in the market. (Check live forex rates here)

Current exchange rates as of 8:30 am on September 22:

• Indian rupee: 26.08, slightly stronger compared to yesterday's 26.10.

• Pakistani rupee: 75.62, unchanged from yesterday's levels.

• Philippine peso: 17.01 unchanged from yesterday's 17.01.