Spike in AED-INR transfers: What’s driving Indians in UAE to remit more funds; - Explained
The weakening rupee, hovering around Rs 23.5 per AED, has triggered a surge in remittances from NRIs in the UAE and Saudi Arabia. Currency exchange firms report a significant increase in AED-INR transactions since mid-June. Despite the usual summer slowdown, expats are capitalizing on the attractive exchange rate, sending money home as quickly as possible.
The weakening rupee, hovering around Rs 23.5 per AED, has triggered a surge in remittances from NRIs in the UAE and Saudi Arabia. Currency exchange firms report a significant increase in AED-INR transactions since mid-June. Despite the usual summer slowdown, expats are capitalizing on the attractive exchange rate, sending money home as quickly as possible.
