Dubai: Expats in the UAE are still getting a boost from weak Asian currencies, as each dirham converts into more when sent home. The Indian rupee, Philippine peso and Pakistani rupee are sitting close to their weakest levels in years.

The Indian rupee opened marginally stronger on Thursday, but in-line with losses that most of its Asian peers are witnessing. Currently the Indian rupee is trading at Dh25.89 versus Dh25.91 in the previous session. Now, an expat will have to spend DH38.62 to get a Rs1000 in exchange.

Peso softens

The Philippine peso (PHP) has weakened further against the dirham, currently trading at Dh17.31 versus the Dh17.35 previously. Elevated oil prices are deepening losses across most emerging Asian currencies as nations like the Philippines face soaring import costs.…