Remit now? New money exchange rates for India rupee, Pakistan rupee, Philippine peso

Dubai: Weak Asian currencies are creating a remittance windfall for UAE expatriates, with exchange rates delivering exceptional value for money transfers back home.

The critical question for millions of workers: Should you send money now or wait for even better rates?

With South Asians comprising nearly 60 per cent of the UAE's population, currency movements in India, Pakistan, and the Philippines directly impact household finances across the Emirates.

Recent weeks have seen these currencies hit multi-week lows against the dirham, boosting purchasing power for families receiving funds.

(Check live forex rates here)

Current exchange rates as of September 18:

• Indian Rupee: 23.96 dirhams per 100 rupees (improved from yesterday's 23.88) • Pakistani Rupee: 76.67 dirhams per 100 rupees (unchanged from yesterday)
• Philippine Peso: 15.50 dirhams per 100 pesos (unchanged from yesterday)

The Indian rupee showed marginal improvement against the dirham on Wednesday, gaining 8 fils compared to Tuesday's rate. Both Pakistani and Philippine currencies held steady, suggesting potential consolidation after recent weakness.

The currency weakness stems from broader emerging market pressures and domestic economic challenges in these countries, creating opportunities for UAE residents to maximise their financial support back home.