Dubai: Soft Asian currencies continue to give UAE expatriates more value for every dirham they send home, with the Indian rupee, Philippine peso and Pakistani rupee all trading near some of their weakest levels in recent years.
The Indian rupee recently touched a new low of ₹24.98 against the dirham, opening up one of the strongest transfer windows for Indian expats. Exchange houses say many families are splitting their transfers, sending part now and holding the rest in case rates move further.
Peso slips amid political and economic strain
The Philippine peso has been trading between 15.87 and 16.13 against the dirham as political pressure, slower growth and a widening corruption probe unsettle market confidence. Traders describe this period as one of the currency’s most turbulent phases since 2022.
For now, favourable rates are prompting households to reassess strategy, deciding whether to lock in current levels or wait for another shift in the market. (Check live forex rates here)
Current exchange rates as of February 4:
- Indian rupee: 24.52, slightly weaker from yesterday’s 24.49
- Pakistani rupee: 76.67, unchanged from yesterday’s level
- Philippine peso: 15.98, unchanged from yesterday’s level
