Indian expats in UAE: Time to remit? Rupee to stay weak for now, so make most of the rate before it rises

Indian expats in UAE: Time to remit? Rupee to stay weak for now, so make most of the rate before it rises

Dubai: When it comes to sending money back home, it is vital to know whether it is currently an ideal time to remit. So if you were wondering whether or not you should send Indian rupee back home now or wait a bit, here's what analysts are saying. Against the UAE dirham, the Indian rupee is expected to drop to 22.9 in the coming weeks, before rising further later, so remit soon to take advantage of rates. The currency was currently at 22.5. Check the . Against the US dollar, the Indian rupee was at 82.81. It is expected to trade at 83.48 by the end of this quarter, according to Trading Economics' analysts expectations.The analysts estimate it to trade at 85.70 in 12 months time. Any weakness or strength in the Indian currency'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. However, Bofa Securities Inc. is predicting more gains for the Indian rupee, joining investment banking major Citigroup Inc. "The recent correction in rupee valuation and near-term improvement in current-account and capital flows tilt the risk-reward in favor of rupee appreciation,"