Filipino expats too get month-end boost as peso drops to 15.77 vs dirham

LOWEST IN A MONTH

- BY MANOJ NAIR Business Editor

Filipino expats in the UAE are enjoying a month-end bonanza, with the peso falling to 15.77-15.78 against the dirham — its lowest level in over a month. That's a notable drop from the 15.3 range where the Philippine currency had hovered through most of July.

At one point, the rate even touched 15.80, driven by the US dollar's continued surge this week. The dollar index — which measures the greenback's strength against a basket of major currencies — climbed past 99, up from the 96-97 range in recent weeks.