Dirham’s dollar peg gives UAE expats a remittance edge

Dubai: Softness in Asian currencies tends to benefit UAE expats, who get more back home for every dirham they send. The Indian rupee, Philippine peso and Pakistani rupee are all trading near multi-year lows.The rupee started November 12 slightly weaker to the dollar. A pickup in foreign equity inflows offset some of the pressure from a stronger dollar, which has climbed to a one-month high. AdChoicesADVERTISINGThe dollar index, which measures the greenback against a basket of currencies including the yen and the euro, rose 0.63% to 102.85, its highest level since October 14.