UAE expats: Hold or remit? Here are currency forecasts for India, Pakistani Rupee, and Philippine Peso

UAE expats: Hold or remit? Here are currency forecasts for India, Pakistani Rupee, and Philippine Peso

Dubai: 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. Remittances from the UAE are in for a sharp surge as several, particularly South Asian currencies, were seen losing ground in the weeks to come. Currency analysts evaluate that flow of foreign currencies has improved after the worst of the pandemic had passed with the majority part of 2020. According to statistics, South Asians, which - among others - include people from India, Bangladesh, Pakistan and Philippines, and make up nearly 60 per cent of the UAE population. So it would be financially beneficial to regularly analyse currencies of the above countries, be it the Rupee, Taka or Peso. So here is an analysis of how these aforementioned currencies have been performing, and expected to perform in the coming weeks, to help understand whether one should consider remitting money now is profitable or cost-effective, or wait it out for a few weeks for a better rate to come along.