Indian rupee hits new record low of 24.09 against UAE dirham - remit now!

Dubai: The Indian rupee slid to a new all-time low of 24.09 against the UAE dirham on Tuesday, giving Indian expats in the Emirates a stronger incentive to send money home. (Check live forex rates here)

The drop came after the currency weakened to 88.79 per US dollar, pressured by fresh concerns over trade tensions and a surprise move by Washington to sharply raise visa fees. The new one-off $100,000 charge on H-1B visa applications—commonly used by Indian tech firms—sparked fears of lower service exports and shrinking foreign inflows.

So far in 2025, the rupee has fallen about 3.5%, making it Asia’s worst-performing currency this year. Analysts say the weakness is also helping India’s central bank keep exports competitive despite higher US tariffs.

But for UAE residents, the takeaway is clear: every dirham now converts into more rupees. For example, Dh1,000 fetches Rs24,090 today, compared with Rs23,800 earlier this month.

“Developments on the H-1B visa have hit sentiment while foreign outflows have pushed the rupee lower,” said VRC Reddy, head of treasury at Karur Vysya Bank.

With repairs on the rupee unlikely in the near term, the record exchange rate offers one of the most attractive windows for remittances this year.

- With inputs from Agencies