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Indian rupee dips to 23.4: Should UAE-based

Indians send money home now or wait?

US debt concerns and market volatility weigh on rupee; UAE expats watch remittance timing
Last updated: May 22, 2025 | 17:06

Justin Varghese, Your Money Editor

2 MIN READ

Al Ansari money exchange, Dubai.Photo Virendra Saklani/Gulf News

Dubai: The Indian rupee has slipped to INR23.40 per UAE dirham, its lowest point in over a
month. (Check the latest forex rates here.)

This decline raises a common question among UAE-based Indian expats: Is now the right time to
send money home, or should you wait for a better rate?

What’s causing the drop?

The recent dip in the rupee comes amid a series of global economic developments:
· US policy concerns: The passage of a multitrillion-dollar spending bill by House Republicans,
aiming to extend significant tax breaks, has raised concerns about mounting debt at the world’s
largest economy.

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