Rising dirham makes your remittances cheaper

By Eudore R.Chand

ABU DHABI 7 May 2020: The UAE Dirham has appreciated against the currencies of top 10 non-dollarised import partners by 1.8 percent in 2019, according to Central Bank of the UAE statistics.

These partners account for around 51.4 percent of the UAE’s total imports.

In the meantime, the UAE currency gained more ground against the currencies of emerging economies, according to the financial regulator’s figures, which also showed that the national currency appreciated against the Chinese yuan, Indian rupee and euro, said Wam.

The average real nominal exchange rate, which takes into consideration the difference in inflation between the UAE and its trade partners, appreciated 3.4 percent in the reference year.


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