Gold & Forex Rates
April 28, 2025 Updated 1 day ago
currencies morning evening yesterday
Indian Rupee (INR) 23.06 23.11
Pakistani Rupee (PKR) 76.48 76.48
Bangladesh Taka (BDT) 33.23 33.23
Sri Lankan Rupee (LKR) 81.42 81.42
Nepalese Rupee (NPR) 36.98 36.98
Egyptian Pound (EGP) 13.81 13.83
Philippines Peso (PHP) 15.33 15.33
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Zawya
05-08-2025
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Al Ansari Exchange addresses Indian Rupee drop to near record lows and its implications for UAE Remittance Market
Dubai, UAE – Al Ansari Exchange, a leading remittance and foreign currency exchange service provider in the UAE, has highlighted the recent sharp decline of the Indian rupee against the UAE dirham, which is pegged to the U.S. dollar. The rupee has approached record lows, trading around ₹23.91 per AED, with intra-week fluctuations between ₹23.63 and ₹23.95. This marks one of the weakest levels in recent years and has drawn significant attention from expatriate communities and businesses with exposure to India. The drop in the Indian rupee has been driven by several factors, including heightened trade tensions between the United States and India, particularly the threat of new tariffs on Indian exports of up to 25 percent. These developments have unsettled investors and triggered capital outflows from Indian markets. July 2025 witnessed the rupee's lowest monthly performance since 2022, with foreign equity sell-offs exceeding USD 2 billion. Additionally, the Reserve Bank of India has taken a more cautious stance on currency intervention, allowing the rupee to adjust more freely to external factors. Global geopolitical concerns and rising oil prices have further weighed on India's import bill, exacerbating the currency's decline. For consumers in the UAE, this development is already influencing remittance and currency exchange patterns. Al Ansari Exchange has observed a surge in remittance activity, as Indian expatriates take advantage of the more favourable rates to send additional funds back home. The stronger conversion value is allowing customers to remit significantly higher amounts in rupees for the same dirham outlay, providing tangible benefits to families and dependents in India. At the same time, businesses and individuals engaged in trade with India are reviewing their hedging strategies and timing of transactions in light of the increased volatility. In response to the surge in remittance demand, Al Ansari Exchange has ensured sufficient liquidity across its nationwide branch network and digital channels, while continuing to provide competitive rates and transparent pricing. The company has also launched targeted initiatives to attract customers during this period, including special promotional offers, rate alerts via its mobile application, and expanded staffing at high-demand branches to ensure smooth and efficient service. Commenting on the situation, Rashed A. Al Ansari, CEO of Al Ansari Exchange said: "The current exchange rate presents a unique opportunity for Indian expatriates in the UAE to maximise the value of their remittances. While the outlook for the rupee remains influenced by global and domestic factors, we are fully prepared to meet the increased demand and provide our customers with the best possible value and service during this period of heightened currency volatility." Al Ansari Exchange reaffirmed its commitment to supporting customers with reliable and efficient remittance solutions, even as currency markets remain uncertain. The company continues to monitor global economic developments closely and remains focused on delivering safe, transparent, and customer-centric services.
Zawya
01-08-2025
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Omani Rial strengthens sharply against Indian Rupee amid tariff shock
Muscat: The Omani Rial has surged in value against the Indian Rupee, offering a golden remittance window for Indian expatriates in the Sultanate. Triggered by U.S. President Donald Trump's surprise announcement of a 25% tariff on Indian exports, the rupee slumped to a five-month low, pushing the exchange rate past ₹227 per Omani Rial — a level not seen since February. At around 11 a.m. today, Bank Muscat quoted an exchange rate of ₹226.398, while private exchange houses offered as much as ₹226.70. Currency platform showed rates nearing ₹227.68, reflecting high market volatility. The Reserve Bank of India (RBI) is expected to step in to cushion the fall if the rupee edges closer to its all-time low of ₹87.95 against the U.S. dollar. Many Indian expatriates in Oman, particularly those who receive their salaries at month-end, are rushing to take advantage of the windfall. Santhosh Kumar, a Keralite working with a car parts firm, said, 'I've been saving up for this moment. With the salary just in, I'm sending the money today itself. This is the best rate we've seen in months.' The drop in the rupee's value means expats now receive significantly more in rupee terms for each rial remitted — a boon amid rising living costs and financial obligations back home. In a message to customers, Nixon Baby, General Manager of Joyalukkas Exchange LLC, Oman, noted: 'The Indian Rupee has recently shown a weakening trend… With the current exchange rate favoring the Omani Rial, now is a prudent time to consider sending money back home, as remittance can yield higher value in India.' He added that while the rupee may remain volatile in the short term, analysts expect the phase to be temporary. 'Timing your remittance during such dips is key to maximizing value,' the statement read. The Indian Rupee has recently shown a weakening trend… With the current exchange rate favoring the Omani Rial, now is a prudent time to consider sending money back home, as remittance can yield higher value in India. -Nixon Baby, General Manager of Joyalukkas Exchange - The rupee's decline today was steep, opening at ₹87.69 per dollar and slipping to ₹87.74 before partially recovering. The Indian central bank is widely expected to step in to limit further depreciation, though it may not aggressively defend a fixed level. India's equity markets mirrored the nervousness: the BSE Sensex dropped over 600 points, while the Nifty50 fell 189 points (0.76%), led by export-heavy sectors like IT, pharmaceuticals, textiles, and auto. The pressure is compounded by foreign capital outflows, with $425 million exiting Indian equities and $4.6 million from bonds on July 29 alone. Meanwhile, U.S. Treasury yields rose to 4.36%, signaling a flight to safety amid growing trade tensions. As New Delhi studies the implications of Trump's tariff decision, analysts suggest that the current shock may be mitigated if India and the U.S. can reach a trade compromise. Until then, uncertainty is likely to keep the rupee under pressure — a scenario that could continue to benefit Omani remitters in the near term. For now, the currency swing has handed a rare tactical advantage to Indian expats in Oman, many of whom are seizing the moment. 2025 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Zawya
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Indian rupee faces pressure on fresh Middle East jitters after Trump warning
MUMBAI: The Indian rupee is likely to dip at the open on Tuesday, weighed down by rising oil prices and a decline in U.S. equity futures after U.S. President Donald Trump called for the evacuation of Tehran. The non-deliverable forward market indicated a open in the 86.12-86.16 range, versus 86.0650 in the previous session. The Indian currency traded in a 85.94-86.23 band on Monday, finding support once again near the 86.20 level, which held firm on Friday too. The 86.20–86.25 range is "proving difficult" to take out for dollar bulls and the probability of it being breached on Tuesday are low, said a currency trader at a Mumbai-based bank. While the dollar/rupee pair is expected to open higher, it will likely run into offers "almost immediately". Brent crude rose more than 1.5% on Tuesday, while U.S. equity futures declined on concerns over escalations in the Iran-Israel conflict, now in its fifth day. Sentiment was rattled by a report that Trump had asked the national security council to convene in the situation room. He cut short his visit to the Group of Seven summit in Canada. Earlier, Trump had called for the immediate evacuation of Tehran and reiterated that Iran should have signed a nuclear agreement with the United States. Some analysts said these events have fuelled speculation that the U.S. could be on the verge of launching military operations in Iran. This comes after U.S equity markets had rallied and oil prices softened on Monday amid reports that Iran was looking to dial down its conflict with Israel. "How the U.S. may get involved and how Iran may respond moving forward will certainly be crucial for the path of markets," MUFG Bank said in a note. KEY INDICATORS: ** One-month non-deliverable rupee forward at 86.12; onshore one-month forward premium at 8.50 paise ** Dollar index at 98.24 ** Brent crude futures up 1.7% at $74.4 per barrel ** Ten-year U.S. note yield at 4.43% ** As per NSDL data, foreign investors sold a net $43.4 million worth of Indian shares on June 13 ** NSDL data shows foreign investors bought a net $31.7 million worth of Indian bonds on June 13 (Reporting by Nimesh Vora; Editing by Sonia Cheema)
