Dubai: The Indian rupee fell to a record low, giving UAE-based remitters one of the strongest exchange-rate windows yet, while higher oil prices and sustained foreign outflows added pressure on Asia’s third-largest economy. (Check live forex rates here)

At 8.30 am UAE time, Dh1 stood at Rs25.93, according to XE.com, while the rupee stood at 95.25 against the US dollar. The move gives Indian expatriates in the UAE more rupees for every dirham sent home, although the currency’s fall also points to wider strain from oil imports, weak capital flows and pressure on India’s balance of payments.

The rupee closed at 94.8450 per dollar on Wednesday, down 0.3% on the day, after drifting back toward record lows following the fading impact of earlier central bank support measures.…