Remit or hold? Indian rupee set to weaken further in coming months

Remit or hold? Indian rupee set to weaken further in coming months

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. Although the Indian rupee is currently steady at 22.28 against the UAE dirham, the currency is not expected to stay at such levels for long as it is seen dropping further in the coming months, so it would be cost-effective to hold your remittances to take advantage of rates. Check the . The Indian rupee will fall further in the coming months and is expected to drift back to trade around where it is now in 12 months, according to a Reuters poll of FX strategists. After falling more than 10 per cent in 2022 the rupee has traded within a 80.88-82.95 per dollar range this year and was seen staying in that range over the horizon. 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. Against