Dubai : The Indian rupee has depreciated to a record low of 23.36 against the UAE dirham, marking its weakest position since April 15. This decline is attributed to escalating geopolitical tensions between India and Pakistan and a strengthening US dollar.
The rupee had previously strengthened to 22.89 against the dirham, its highest since October 2024. However, recent developments have reversed this trend, with the currency now at 23.36.
This depreciation presents an opportunity for Non-Resident Indians (NRIs) to remit funds home, as the favorable exchange rate increases the value of their remittances. Financial experts advise monitoring the situation closely to make informed decisions on fund transfers.
The Reserve Bank of India (RBI) has intervened in the past to stabilize the rupee by selling dollars. However, the current geopolitical climate and global economic factors continue to exert pressure on the currency.
As the situation evolves, stakeholders are advised to stay informed and consider the implications of currency fluctuations on their financial decisions.
Joseph Maliakan Seven months of January to July 2025 , witnessed an unprecedented 334 incidents…
Muscat : Set to take place in Muscat this October, the 2025 edition of the…
Dubai: ADNOC Gas has entered into a 10-year agreement to supply liquefied natural gas (LNG)…
Joseph Maliakan In a great relief to political, social and human rights activists in the…
By Joseph MaiakanThe Enforcement Directorate ( ED ) the long arm of the Modi government…
Muscat: The Indian School Al Seeb (ISAS) community is deeply saddened by the passing of…
This website uses cookies.