Indian expats in UAE: Time to remit? Rupee to weaken to 22.9 by March-end before strengthening

Indian expats in UAE: Time to remit? Rupee to weaken to 22.9 by March-end before strengthening

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 slip to 22.9 in the coming days, but stay range-bound at around 22.6 in the weeks after, so remit soon to take advantage of rates. The currency was currently at 22.52. Check the . The Indian rupee is expected to remain range bound and trade in the band of Rs82 to Rs83 against a US dollar in the next fortnight, the India-based Bank of Baroda said in a report. Against the US dollar, the Indian rupee was at 82.72. It is expected to trade slightly lower 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