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8/6/25, 9:16 AM Remit now: Indian rupee nears 24 against UAE dirham – record low in sight

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Remit now: Indian rupee nears 24

against UAE dirham – record low in

sight

18h • 2 min read

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Dubai: The Indian rupee has weakened sharply to 23.9 against the UAE
dirham, edging close to its all-time low and presenting one of the most
favourable remittance windows this year for Indian expats in the UAE.

The sudden drop follows a 25% US tariff on Indian exports, a move that
rattled Indian markets and applied fresh pressure on the rupee. After
holding steady around 23.3–23.4 for most of July, the currency began
sliding this week, aligning with the end-of-month salary cycle—a critical
period for remittances. (Check the latest forex rates here.)

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gold…

At UAE exchange houses, buy rates are hovering above 23.80, last seen in
February when the rupee briefly hit 23.93—its weakest-ever level against
the dirham.

“This is as close as it gets to the record low, and could be a prime
opportunity for those waiting to remit,” said a Dubai-based currency
trader.

Will Indian rupee drop to 24 against dirham after latest US tariff threats?

What’s driving the drop?

https://www.msn.com/en-gb/money/other/remit-now-indian-rupee-nears-24-against-uae-dirham-record-low-in-sight/ar-AA1JWjsL?ocid=BingNewsSerp 1/2