Expats flock to remit money as Indian rupee slips to all-time low

Indian rupee remittances are going through one of their best phases since the start of the month, with Indian expats using their February salary credits to good use. Whether via currency exchange houses or through account-to-account transfers, March’s rupee remittances have been at or even better than previous highs.

Currency movements ahead of the market’s opening suggest the rupee will start close to its all-time low of Rs204.07 to the BHD. A full picture of the rupee’s status will be clear at 9.30 am Bahrain, which is when the currency market opens.

The earlier low of Rs201.11 was hit on April 3 of 2020, as India faced up to the full impact of what the COVID-19 pandemic would do to its economy.

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