Business

Al Ansari Exchange, one of the UAE’s most prominent foreign exchange and remittance service providers, has addressed the recent sharp depreciation of the Indian rupee against the UAE dirham, which is pegged to the U.S. dollar. The rupee is currently trading near record lows at approximately ₹23.91 per AED, with weekly fluctuations between ₹23.63 and ₹23.95—marking one of the weakest levels recorded in recent years.

This decline has attracted strong attention from the Indian expatriate community and UAE-based businesses with financial ties to India. According to Al Ansari Exchange, remittance activity has seen a notable increase, as Indian expats capitalize on favorable conversion rates to send more money back home.

Global Factors Behind the Rupee's Slide

The depreciation of the Indian rupee is attributed to several interlinked global and domestic economic factors. Chief among them are rising trade tensions between India and the United States, including threats of new tariffs of up to 25% on Indian exports. These concerns have rattled investor confidence and led to capital outflows exceeding USD 2 billion in July 2025 alone—marking the weakest monthly performance for the rupee since 2022.

Additional pressure on the rupee stems from the Reserve Bank of India’s restrained intervention approach, allowing the currency to adjust more freely to external market forces. Simultaneously, global geopolitical uncertainty and surging oil prices have increased India’s import bill, further intensifying the rupee’s downward momentum.

Remittance Market Responds in the UAE

Al Ansari Exchange has reported a spike in remittance transactions from the UAE to India as customers seek to make the most of the current exchange rate. The stronger rupee conversion enables senders to deliver greater value to beneficiaries in India for the same dirham amount, providing timely financial support to families amid currency market shifts.

To manage the growing demand, Al Ansari Exchange has ensured high liquidity across its extensive branch network and digital platforms. The company is also offering special promotional campaigns, real-time rate alerts via its mobile application, and expanded staffing at high-demand branches to facilitate faster and smoother service.

CEO Statement

“The current exchange rate presents a unique opportunity for Indian expatriates in the UAE to maximise the value of their remittances,” said Rashed A. Al Ansari, CEO of Al Ansari Exchange. “While the rupee’s future movement depends on evolving global and domestic conditions, we are fully equipped to support increased demand with competitive rates and customer-focused service during this period of volatility.”

Commitment to Reliability and Service

Al Ansari Exchange reaffirmed its commitment to providing transparent, secure, and efficient remittance services amid ongoing currency market uncertainty. The company continues to monitor economic developments and adapt its offerings to serve the needs of both individual and corporate clients across the UAE.

• Tags
• #Business
• #Magazine
• #Lifestyle