Expats in UAE to remit or hold? Philippine peso, Pakistani rupee, Indian rupee to drop in August

Expats in UAE to remit or hold? Philippine peso, Pakistani rupee, Indian rupee to drop in August

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. Check live forex rates here.

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.

Philippine peso to weaken soon, postpone remittances

The peso is currently at 15.1 to the UAE dirham, the currency was at 55.71 against the US dollar.

According to research, the value of the Philippine peso is expected to weaken to 15.43 against the UAE dirham over the next 30 days – making it ideal to remit by the end of this month, as opposed to sending money back home now.

While a weaker peso would mean a better exchange rate for overseas Filipino workers (OFWs) who send money home in US dollars, or a currency pegged to the greenback, a