Wait or send? UAE expats eye rupee slide and strong dollar

Dubai: Softness in Asian currencies tends to benefit UAE expats, who get more back home for every dirham they send. The Indian rupee, Philippine peso and Pakistani rupee are all trading near multi-year lows.

Rupee opens flat at 94.03 against the dollar. Most other Asian peers also traded in a mixed range on Friday. The dollar stayed close to a 19-month high, capping a strong week as traders bet on a bigger Federal Reserve rate hike. The yen slid back toward the 160 level, where traders are watching for possible intervention.

The rupee began Friday’s session almost unchanged at 94.03 against the dollar on November 13, barely moved from Thursday’s close of 94.04. Higher oil prices brought back a major source of pressure on the currency, while a jump in US bond yields kept the dollar supported.

In the UAE, rupee can be traded at Dh25.62 versus Dh25.52 yesterday. The UAE Dirham is pegged to the dollar and the dollar index, which tracks the greenback against a basket of currencies, has slipped 0.05 per cent to 103.17. It stayed at its highest level since April 2025.

Peso gains strength

The Philippine peso (PHP) has softened against the dirham, currently trading at Dh17.29 lower than its previous close. A surprise slowdown in the Philippine economy has triggered calls for the central bank to go easy on interest rate increases.

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 11:00 am on November 13

• Indian rupee: 25.62 stronger than its previous levels

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

• Philippine peso: 17.29, weaker from yesterday's levels.