UAE remittances continue to be strong as major South Asian currencies are weakness personified. For most expatriates, it may pay to know when to send money home as it would mean getting more bang for each dirham.
As of Sep 11, the Indian rupee dropped to 23.95 per dirham, down from yesterday's 23.91. The Pakistani rupee remained stable at 76.67, the same level recorded the day before. The Philippine peso also softened to 15.49 from 15.48.
Currency fluctuations concern the UAE's huge South Asian population, which comprises close to 60 per cent of the country's population. As remittances are an important source of household income in their home country, most will be keen to see if the downward spiral continues or levels out in the coming days.
