Good news UAE expats, get more rupee for your dirham
- Rupee stands 18.61 against the dirham.
- Dirham is rising against other currencies creating a favourable situation for expats living in UAE.
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As US dollars is gaining strength and indirectly it is helping the Indian expats in UAE to increase their money. According to UAE Exchange, rupee stands 18.61 against the Dirham and money exchange houses are expecting more business this week due to it.
The Gulf News quoted the CEO of UAE Exchange, Promoth Manghat, as saying, “With the dirham rising against other currencies, we do expect remittance transactions to go up. Also, next week happens to be salary time so that the regular remitters would be sending money home.”
The US currency is putting pressure on currencies across the world and is expected to gain more strength as analysts predict that Federal Open Market Committee (FOMC) in the US might further adjust the interest rates for banks to lend money to each other. US Federal Reserve Chair Janet Yellen also signalled increased in rate confirming the same.
This means a further increase in the remittance power and more rupees in exchange of dirham. Indian expats living in UAE, this is the time to make the most of your dirham income by converting them to the rupee.
