Dubai: Softness in Asian currencies continues 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 Indian rupee opened marginally weaker on Wednesday, tracking losses across most Asian peers, with investors awaiting the Federal Reserve's policy decision after local market hours for clues on the outlook for further rate hikes. Currently the Indian rupee is trading at Dh25.95 versus Dh25.92 in the previous session. Now, an expat will have to spend DH38.54 to get a Rs1000 in exchange.Peso softensThe Philippine peso (PHP) has weakened further against the dirham, currently trading at Dh17.39 versus the Dh17.33 previously. Changes in oil prices impact the local currency because the Philippines imports most of its oil. Expectations that the US Federal Reserve may keep rates high have strengthened the US dollar.For now, favorable rates are prompting households to reassess strategy, deciding whether to lock in current levels or wait for another shift in the market. (Check live forex rates here)Current exchange rates as of 08:30 am on October 28Indian rupee: 25.95 weaker from yesterday's levels.Pakistani rupee: 75.65, unchanged from yesterday's levels. Philippine peso: 17.39, weaker from yesterday's levels.
