Rupee, peso stay steady against the dirham: Time for expats to remit?
Quick look at current exchange rates - as of October 2- against the UAE dirham
Dubai: Expats in the UAE are still getting a boost from weak Asian currencies, as each dirham converts into more when sent home. The Indian rupee, Philippine peso and Pakistani rupee are sitting close to their weakest levels in years.
The Indian rupee has not changed much in the past 24 hours trading at Dh26.14. Now you will have to pay Dh38.26 in exchange for Rs 1000 . According to exchange houses, a growing number of families are staggering their transfers, sending some money immediately and waiting on the balance to see where rates go.
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Peso slips slightly
The Philippine peso (PHP) is back below the Dh17 mark coming in at DH16.99. Changes in oil prices impact the local currency because the Philippines imports most of its oil. Expectations that the US Federal Reserve may keep rates high have strengthened the US dollar.
For now, favourable 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 09:00 am on October 2:
Indian rupee: 26.14, unchanged from yesterday's levels of Dh26.13.
Pakistani rupee: 75.6, unchanged from yesterday's levels.
Philippine peso: 16.99, slightly weaker from yesterday's levels.
