Dubai: When it comes to sending money back home, it is vital to know whether it is currently an ideal time to remit. To understand whether it is or isn’t, one should first find out if your currency back home is expected to rise or fall in the days to come.
According to statistics, South Asians, which – among others – include people from India, Pakistan and the Philippines, make up nearly 60 per cent of the UAE population. So, it would be financially beneficial to regularly analyse currencies of the above countries, be it – the Rupee or the Peso.
Here is an analysis of how these aforementioned currencies have been performing and expected to perform in the coming weeks and months, to help understand whether remitting money now is profitable or cost-effective, or should you wait it out for a few weeks for a better rate to come along.