Weak rupee gives Indian expats unforeseen bonus

As the Indian rupee slipped to record lows against the UAE dirham, many Indian residents in the Emirates rushed to send money home, as the timing could not have been better.

- SM Ayaz Zakir [e-mail]

A remittance centre in Dubai. With the exchange rate touching around Rs24.5 per Dh1, UAE residents said that they received more Indian currency than before.

With the exchange rate touching around Rs24.5 per Dh1, UAE residents said that they received more Indian currency than usual on exchanging dirhams, helping them pay school fees and household bills.

Khaleej Times visited exchange houses, where sales executives reported a rise in remittances as residents took advantage of the exchange rate. Some residents also told Khaleej Times that they sent bigger amounts than usual because they did not want to miss the opportunity.