Monday, 4 October 2010

INDIA: Rupee climbs to 12 against dirham

Expatriate remittances from the UAE to India has slowed down as the Indian currency has appreciated substantially due to widening interest rate difference between India, US, Europe and other countries.

Money exchanges in the UAE, which are normally active during the early month salary days, are seeing a considerable decline in business as the Indian rupee and UAE dirhams exchange rate fell to Rs12 on Sunday. Read more

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