Dubai: Indian expats in the UAE have been watching the rupee nervously. The currency hit a record low of ₹88.17 per US dollar last week, with the exchange rate against the UAE dirham touching ₹24.05.
For families sending money home, this weakness has made every dirham stretch further. The question now is: will this window last, or will the rupee slide even more?
Why the rupee is under pressure
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Stronger US dollar: The dollar has gained sharply worldwide, pushing down many major currencies, not just the rupee.
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Tariff tensions: The US recently imposed steep tariffs of up to 50% on Indian goods, alongside penalties for India’s oil trade with Russia. These have weighed on investor sentiment.
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Market intervention: The Reserve Bank of India (RBI) has stepped in through state banks to slow the fall, but intervention only smooths volatility — it doesn’t reverse the trend.
