UAE expats: Best to remit now? British pound to slip, Euro to stay steady

UAE expats: Best to remit now? British pound to slip, Euro to stay steady

Against the UAE dirham, the British pound is expected to slip from its present level of 0.21 in the coming weeks, with the Euro expected to keep steady at its current level of 0.25. Here's how you can take advantage of these upcoming rates.

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.

Here is an analysis of how currencies like the British pound and the euro have been performing and expected to perform in the coming weeks, 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.

Although the above-mentioned currencies don’t fluctuate as much as South Asian currencies like the Indian rupee, Pakistani rupee and Philippine peso, however small the changes will result in bigger savings the more money you remit.

If a currency is expected to weaken or depreciate, it's prudent to take advantage of more remittance-friendly rates after it drops