Remit now: What does each dirham fetch expats back home?

Dubai: Expats in the UAE are still getting a boost from weak Asian currencies, as each dirham converts into more when sent home. The Indian rupee, Philippine peso and Pakistani rupee are sitting close to their weakest levels in years.

The Indian rupee has fallen 9 paise to 94.50 against US dollar in early trade on Friday. On Thursday, the rupee had settled at 94.41 against the American currency. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 101.71, higher by 0.17 per cent.

Currently the Indian rupee is trading at Dh25.65 versus Dh25.67 in the previous session. Now, an expat will have to spend Dh38.99 to get a Rs1000 in exchange.

Peso gains strength

The Philippine peso (PHP) has gained softened against the dirham, currently trading at Dh17.11 lower than its previous close. Elevated oil prices are deepening losses across most emerging Asian currencies as nations like the Philippines face soaring import costs.

For now, favorable 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 09:15 am on November 06

• Indian rupee: 25.65 stronger from yesterday's levels.

• Pakistani rupee: 75.8, unchanged from yesterday's levels.

• Philippine peso: 17.11, stronger from yesterday's levels.