UAE expats: Time to remit? Indian Rupee to drop, Pakistani Rupee to soar, Philippine Peso seen stable

UAE expats: Time to remit? Indian Rupee to drop, Pakistani Rupee to soar, Philippine Peso seen stable

Dubai: Remittances from the UAE are seeing a surge as several, particularly South Asian currencies, were losing ground and recorded remittance-beneficial rates in the past days. But will currency trend continue? Not for long, estimates show. 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 these 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 19.82 to the UAE dirham, the Indian rupee last weakened to 72.81 against the US dollar. According to research, the Indian rupee is expected to drop to Rs19.5 by the end of next month against the UAE dirham, but it is going to stay largely the same level in the coming days. So it is financially prudent