Philippines Peso drops to 15.25 against dirham - should Filipino expats send money now or wait?

Dollar regained some strength Friday, and it's advantage time for OFWs

Last updated: June 14, 2025 | 10:39

Manoj Nair, Business Editor

2 MIN READ

The Philippine peso had been trading in a tight range and higher against the dirham/dollar. But Friday's (June 13) movements will offer some respite for Filipino expats.

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Dubai: Filipino expats in the UAE have gotten themselves a good remittance break this weekend, with the peso dropping to 15.29 to the dirham. This is easily the lowest the peso’s been in the last 30 days, during which the Philippines currency had stuck to 15.08-15.09 levels.

The change came about on Friday (June 13) when the dollar shed some of its recent weakness after the breakout of intense hostilities between Israel and Iran. The tensions continue to simmer, and which will now be reflected in the currency exchange levels from Monday.

Also Read: Israel attacks Iran: Dollar's gaining too - what it means for Indian rupee, Philippines Peso

This does open up some options for OFWs in the UAE, Saudi Arabia and elsewhere in the Gulf. Today’s 15.29 levels to the dirham are quite the drop levels seen in the last 30 days. (At one point, the peso-dirham exchange rate had come down to 14.98.)

“The peso opened Friday at 15.19 to dirham (55.8 to the dollar) and closed 15.29 (56.21) – so that’s already a good rate break advantage,” said Neelesh Gopalan, Treasury Manager at a Dubai remittance fintech.

But Filipino expats could also look to delaying sending their next funds home to see if the dollar (and dirham) firms up further against the peso. “The dollar has not had a good run of it for weeks now, but with the Israel-Iran situation, it could get some backing,” said an FX analyst. “Next week will be a good barometer to see where dollar’s heading short-term.” (Dollar’s weakness had to do with widespread sell-off in US assets through May, on growing concerns about the state of the US economy.)

Now, the dollar’s probably in for a burst of gains – and that’s good for Filipino expats in the Gulf.

Manoj NairBusiness Editor

Manoj Nair, the Gulf News Business Editor, is an expert on property and gold in the UAE and wider region, and these days he is also keeping an eye on stocks as well. Manoj cares a lot for luxury brands and what make them tick, as well as keep close watch on whatever changes the retail industry goes through, whether on the grand scale or incremental. He’s been with Gulf News for 30 years, having started as a Business Reporter. When not into financial journalism, Manoj prefers to see as much of 1950s-1980s Bollywood movies. He reckons the combo is as exciting as it gets, though many will vehemently disagree.