UAE’s Indian expats are shopping for ‘best remittance deals’

As NRIs try to get ‘most out of each dirham’, major price differences show up

- BY MANOJ NAIR Business Editor

The latest decline in the Indian rupee to 23.8-23.9 against the dirham has once again brought currency exchange rates and remittance fees a hot topic among Indian expats in the UAE.

Based on trends from the last 3-4 days:

■ UAE based currency exchange houses were offering dirham to rupee exchange rates of 23.7 to 23.75 for one dirham.

■ Banks in the UAE had remittance rates pegged at 23.6 to 23.65 during the same period.

■ Digital apps were offering remittance services at 23.83 to 23.88.