Indian expats in the UAE are getting fewer rupees for their dirham when sending money home, a trend that could worsen due to new US tariffs. The rupee has strengthened against the dirham, moving from 23.94 on February 10, 2025, to 23.30-23.33 currently. Some analysts believe the rupee could strengthen further.
Currency exchange sources advise expats to remit money quickly, anticipating market volatility from the US tariffs. These tariffs are causing global market uncertainty, potentially weakening the rupee to 23.55-23.60 levels.
Monitoring the dollar index is crucial, as its decline could indicate further strengthening of other currencies. While the dollar previously hit record highs against the rupee, it has since weakened, suggesting a potential base formation. The rupee is expected to remain volatile due to global trade tensions.
Analysts note that the dollar’s dominance is threatened by unpredictable US policies, leading to investor nervousness and a potential loss of trust. The dollar index’s recent decline reflects these concerns.