UAE remitters urged to send money to India now

Sending money from the UAE to certain countries is becoming more cost-effective. The Indian rupee is expected to strengthen against the UAE dirham in the coming weeks, making it a good time to send remittances. Currently, the Indian rupee stands at 23.51 to the UAE dirham. Since the rupee has been weak in recent years, this presents a favorable opportunity for expatriates from India in the Gulf region. Experts, including forex analyst Jasdeep Singh, suggest that the rupee may strengthen to between 23.20 and 23.24 in early March. This means that sending money now could be more beneficial compared to waiting. However, it is advised that remitters consider sending money soon, as rates may become less favorable by late March. HSBC also opines that the rupee is likely to face ongoing pressure. In summary, remitters should take advantage of current rates by sending money home sooner rather than later, particularly for larger amounts. Observing future forex updates is essential as conditions may change.