UAE to India remittances surge as rupee at 23.96 vs. Dh1: Which apps, services offer best rates?
Exchange rate on apps, websites have reached levels of ₹23.96–₹24.27 per UAE dirham
Dubai: Indian expats in the UAE are making the most of favorable currency conditions, as the Indian rupee continues to weaken against the US dollar — and by extension, the UAE dirham.
As of this week, the exchange rate has reached levels of ₹23.96–₹24.27 per dirham, depending on the remittance service used. This is one of the best rates seen in recent months, encouraging more Indian expatriates to transfer funds home. (Check the live forex rates here.)
Exchange Rates (AED to INR) across popular platforms
As of this week, several remittance platforms are offering competitive exchange rates for converting UAE dirhams (AED) to Indian rupees (INR), with some edging close to ₹24 per dirham:
e& Money app is offering an indicative rate of 1 AED = ₹23.97.
GCC Exchange app shows a rate of 1 AED = ₹23.96.
Al Ansari Exchange, LuLu Exchange, and Joyalukkas Exchange apps all show similar rates at around ₹23.91 per AED.
Remitly is offering a promotional rate on their website of 1 AED = ₹24.27 for new customers, one of the highest available.
Wise too lists a mid-market rate of 1 AED = ₹23.95.
Western Union offers an estimated exchange rate of 1 AED = ₹23.99.
Hubpay's live rate is around 1 AED = ₹23.97.
Please note that exchange rates can fluctuate frequently and may vary based on the amount transferred, the payment method, and any associated fees. Always check the latest live rate on the respective platform before confirming your transaction.
What’s driving rupee’s decline?
Stronger US dollar: A broad global rally in the US dollar has weighed down multiple currencies, including the Indian rupee.
Tariff pressures: Recent US-imposed tariffs of up to 50% on Indian goods and trade restrictions related to oil imports from Russia have hurt investor sentiment.
RBI intervention: India’s central bank has intervened via state-run banks to limit volatility, but these actions have not reversed the overall downward trend.
Indian government's stance
Finance Minister Nirmala Sitharaman acknowledged the currency's weakness but pointed out that many global currencies face similar pressure from the dollar. “This is not the case only with rupee versus dollar,” she said, adding that the government is closely monitoring exchange rates.
What this means for remitters
Short term: The rupee is likely to remain under pressure due to global monetary conditions and trade-related challenges. This makes it a good time for Indian expats to remit, as each dirham converts to more rupees.
Medium term: Currency trends may shift if the US Federal Reserve starts cutting interest rates or if geopolitical tensions ease.
Dirham peg advantage: Since the dirham is pegged to the US dollar, its strength closely mirrors that of the greenback — directly impacting AED/INR remittance values.
Should you send money now?
With AED-INR rates hovering close to ₹24, UAE expats are seeing higher returns on their remittances.
While there’s no certainty on how long this window will last, current trends suggest the rupee may stay weak for the near future. However, potential changes in global trade policy or central bank actions could impact rates later in the year.
Bottom line? If you're planning to remit money to India, this may be one of the most favorable times to do so in 2025.
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