Value of Dirham Predicted to increase by the end of 2018

Currency analysts in Dubai have predicted a surge in the currency value of Dirham in the Emirate countries during the upcoming end months of this year (2018).

This surge in the currency value of dirham will strengthen further against the decrease in the value of currencies of other Asian countries like India, Pakistan, Sri Lanka, Bangladesh and the Philippines.

The Emirati currency (Dirham) has witnessed strengthening alongside the US Dollar value in the first half of the year 2018 and is expected to increase further in the second half of this year due to more Fed rate hikes in the US.

The Asian expats are advised to wait for a few months before sending cash to their own countries due to the expected surge of Dirham. Indian and Pakistani currencies have met new lows in the last few months.

Over 27% of Asian expats who are Indians are currently living in UAE; with the Indian Rupee hitting the lowest value with 18.8 against the UAE dirham, the expats are advised to wait before transferring cash.

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Similarly, over 12.6% of Asian expats are Pakistanis. The Pakistani rupee has plunged below 33 against the UAE dirham. Bangladeshi taka has dropped to a new low of 23 against the UAE dirham and Philippines peso has hit to 14.6 against the UAE dirham.