Dirham Dilemma: Rupee Hits 30-Day High—UAE NRIs Advised to Hold Off on Remittances

The Indian rupee (INR) has surged to its strongest level in 30 days against the UAE dirham (AED), prompting currency experts to advise non-resident Indians (NRIs) to delay fund transfers for better exchange rates. As of July 4, the AED-INR rate stood at ₹23.11–₹23.20, compared to a recent low of ₹23.62 on June 23.

 

Analysts expect the rupee to weaken slightly in the coming days, potentially pushing the rate back to ₹23.3–₹23.4 per dirham, offering NRIs 20–30 paise more per dirham. The shift is influenced by global factors, including the US Independence Day market closure, the passage of the “Big Beautiful” US budget bill, and speculation around a US-India trade deal.

 

India’s forex reserves of $698 billion provide a buffer, but any new US tariffs could trigger a rupee dip. For now, NRIs are urged to wait a few days before remitting, especially for large transfers.

 

Key Highlights:

Source: Gulf News – Indian Rupee at 30-Day High to Dirham