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After a week of growing muscles, the Indian rupee once again slumped below
the 55-mark against the US dollar, and the 15-mark against the UAE dirham, much
to the relief of Indian expats across the world, some of who are still waiting
to remit their monthly instalments in the hope of a ‘better’ exchange
rate.
“I just couldn’t help feeling left behind when my Indian friends kept telling me how they made a killing by remitting money at as low as Rs15.25 against the UAE dirham,” says Sukesh Rajput, store manager at a Dubai-based retailer.
“I kept waiting to add one more month’s remittance to the kitty and send a lump sum at this rate,” he said, adding that he was disappointed when what he calls the ‘dream-run’ seemed to have ended last week as the dollar – and with it the UAE dirham – came crashing down against the Indian rupee.
However, with the Indian rupee trading at Rs15 at 11am UAE time this morning, a number of Indian expats like Rajput intend to stop taking their chances and remit money while the rate is still good.
Non-Resident Indians (NRIs) have had a good run with the exchange rate this year, with a constantly weaker rupee making their remittances that much sweeter.
“I just couldn’t help feeling left behind when my Indian friends kept telling me how they made a killing by remitting money at as low as Rs15.25 against the UAE dirham,” says Sukesh Rajput, store manager at a Dubai-based retailer.
“I kept waiting to add one more month’s remittance to the kitty and send a lump sum at this rate,” he said, adding that he was disappointed when what he calls the ‘dream-run’ seemed to have ended last week as the dollar – and with it the UAE dirham – came crashing down against the Indian rupee.
However, with the Indian rupee trading at Rs15 at 11am UAE time this morning, a number of Indian expats like Rajput intend to stop taking their chances and remit money while the rate is still good.
Non-Resident Indians (NRIs) have had a good run with the exchange rate this year, with a constantly weaker rupee making their remittances that much sweeter.
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