The Indian rupee fell to a historic low against the UAE dirham this week, slipping to around ₹24.5 per Dh1, prompting thousands of Indian residents across the Emirates to rush to exchange houses and remit money back home. The sharp decline has created one of the most favorable remittance windows in recent years, encouraging many to take advantage before the currency stabilizes.
Exchange houses throughout Dubai, Abu Dhabi, Sharjah, and the Northern Emirates reported a significant spike in transactions, with long queues seen at peak hours. Staff at major remittance centers confirmed a noticeable increase in the number of customers sending larger-than-usual amounts to India.
For many families, the timing offered a much-needed financial boost.
Several residents said the additional rupees they earned from remitting at the higher exchange rate helped them manage school fees, monthly household expenses, medical bills, and extended family commitments back home. Others viewed the moment as an opportunity to send bulk transfers, especially for savings, investments, or loan repayments.
Financial experts noted that currency markets remain volatile, driven by global economic pressures, fluctuating oil prices, and investor sentiment. The rupee’s continued weakness against major currencies has made expatriate remittances more valuable, especially in the UAE, home to more than 3.5 million Indians.
“With currency markets constantly shifting, many people simply felt the timing was too good to miss,” said an exchange house representative, adding that similar spikes often occur whenever the rupee crosses psychological thresholds.
For now, Indian residents in the UAE remain watchful, with many hoping to catch another favorable rate before markets shift again. Meanwhile, social media groups and community platforms are buzzing with discussions about the ideal time to remit, while others share how the unexpected rate helped them ease financial pressure.
As the rupee continues to move unpredictably, residents are monitoring the trends closely—and many say they will continue remitting whenever dips create an advantageous window.
