Dubai, July 10 (TNS): UAE dirham will strengthen further against the currencies of India, Pakistan, Sri Lanka, Bangladesh and the Philippines in the second half of 2018, Arab media quoting currency analysts reported on Tuesday.
The Emirati currency strengthened in line with the US dollar against Asian and emerging market currencies during the first half of this year, helping expats to remit more money with less dirhams during the period.
The Indian and Pakistani currencies have been consistently hitting new lows over the last few months with the former reaching 18.8 against the UAE dirham last month while the Pakistani rupee has plunged below 33.
Similarly, Bangladeshi taka dropped to an all-time low of 23 against the UAE dirham in mid-June and Philippines’ peso declined to 14.6 last month.
