Dollar slide forces UAE expats to rethink remittance strategy

JUST 3 DAYS AGO, THE OUTLOOK WAS VERY DIFFERENT FOR EXPATS FROM ASIA

- BY MANOJ NAIR Business Editor

The dollar has dropped to a three-and-a-half year low and showing signs of further weakening, which will require many expats in the UAE to manage expectations on what they can get from sending money home.

Just three days ago, it was all looking so different for expats from Asia in the UAE and Gulf, with their currencies dropping against the dollar. For the Indian rupee and the Philippines peso, the drops as of Monday were their lowest points since April.