Expect better exchange rate for Indian rupee against UAE dir

Expect better exchange rate for Indian rupee against UAE dirham this week


Dubai: UAE based Indians planning to remit money home could get better exchange rate for their dirham in the week ahead as the rupee is likely to weaken against the dollar.
Any weakening of the Indian currency against the dollar will be reflected in its exchange rate against the UAE dirham because of its peg to the dollar.
The rupee closed at Rs74.41 per dollar and 20.27 against the dirham on Friday.
IPO outflows
The outlook for rupee in the week ahead appears subdued because of potential outflow of dollar following a few recent initial public offerings (IPO) that offered foreign venture capitalists and early stage investors opportunity to exit and repatriate their investments.

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