Indian rupee steadies after Thursday’s drop, should you hold off remitting?

Indian rupee steadies after Thursday’s drop, should you hold off remitting?

Dubai: With the Indian rupee steading after slipping on Thursday, if UAE expats were wondering whether now would be an opportune time to send more money back home or hold off - forex analysts suggest waiting. Against the UAE dirham, the Indian currency steadied at 21.57. Check the . The rupee was trading at 79.7 per US dollar, compared with 79.63 in the previous session. Weakness in the rupee's value against the US dollar will be automatically reflected in its exchange rate with the UAE dirham as the UAE currency is pegged to the dollar. The Indian rupee traded in a narrow band against the US currency on Friday amid a pause in the dollar's decline. The currency opened at 79.67 and has traded in a less than ten paise range so far. "It is shaping up to be a very quiet session. We are more or less in the middle of 79-80 band that markets expect in the near-term," a trader at a state-run bank said. "Risks are higher for a move above 80 than to 79." The dollar index inched higher on Friday after falling for four straight sessions. A revival in risk appetite has pulled the safe-haven