UAE expats, get ready to remit: Indian rupee, Philippine peso to weaken in February

UAE expats, get ready to remit: Indian rupee, Philippine peso to weaken in February

Dubai: Remittances from the UAE were seeing an uptick as several, particularly South Asian currencies, lost a bit of momentum and recorded remittance-beneficial rates in the past few weeks. But will the currency trend continue? Estimates show Indian rupee, Pakistani rupee and Philippine peso weakening in the weeks to come. Here’s how you can take advantage of these remittance-beneficial rates and when. When it comes to sending money back home, it is vital to know whether it is currently an ideal time to remit. To understand whether it is or isn’t, one should first find out if your currency back home is expected to rise or fall in the days to come. Here is an analysis of how the aforementioned currencies have been performing and expected to perform in the coming weeks and month, to help understand whether remitting money now is profitable or cost-effective, or should you wait it out for a few weeks for a better rate to come along. With the Indian rupee (INR) currently at 20.4 to the UAE dirham, the Indian rupee last strengthened to 75.17 against the US dollar, ahead of the India Budget, 2022 to be held on February 1. The Indian rupee