Dubai: Soft Asian currencies continue to give UAE expatriates more value for every dirham they send home, with the Indian rupee, Philippine peso and Pakistani rupee all trading near some of their weakest levels in recent years.
The Indian rupee recently touched a new low of ₹25.12 against the dirham, opening up one of the strongest transfer windows for Indian expats. Exchange houses say many families are splitting their transfers, sending part now and holding the rest in case rates move further.
Peso slips amid political and economic strain
The Philippine peso has been trading between 15.87 and 16.24 against the dirham. The move reflects a combination of global pressures that have pushed the peso weaker against major currencies, particularly the US dollar, which indirectly influences the dirham because of its dollar peg.
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.
Current exchange rates as of 8:30 am on March 17:
- Indian rupee: 25.07, slightly stronger compared to yesterday’s 25.08.
- Pakistani rupee: 76.67, unchanged from yesterday’s level.
- Philippine peso: 16.2, slightly stronger compared to yesterday’s 16.24.
Source: www.gulfnews.com