Windfall for Indians as rupee dives to 23.86 against dirham

THE SLIDE COINCIDING WITH MONTH-END FAVOURS SALARIED EXPATS IN UAE

- BY MANOJ NAIR Business Editor

The Indian rupee dropped to 23.86 from 23.80 against the dirham as currency markets opened yesterday following US President Donald Trump's threat of 25 per cent tariffs on Indian exports to his country.

This will set up one of the “highest remittance volumes ever” from the UAE to India in the next few days, according to currency exchange houses.