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.
