![]() In December, CBSL announced a host of measures including giving an additional 10 rupees per dollar as an incentive but this had limited impact with remittances dropping 61.6% in January to $259 million from $675 million a year earlier. Asian Currencies Vs Indian Rupee (INR) MYR Malaysian Ringgit Convert 1 MYR 17.61085 INR BDT Bangladeshi Taka Convert 1 BDT 0.79730 INR KRW South Korean Won Convert 1 KRW 0.05752 INR PKR. "This move could help exporters but it is too little, too late for migrant workers who are now used to higher curb rates and are unlikely to shift to bank rates," Moramudali said.ĬBSL called on the government to incentivise remittances and foreign investments in its latest monetary policy announcement. Umesh Moramudali, an economist attached to the University of Colombo, said the exchange rate limit should have been set at about 250-260 rupees per dollar to bring in more remittances. "Hawala" traders, who transfer funds informally between countries without physically moving money, adjusted their rate to 270 rupees per dollar after the CBSL announcement, having previously offered a rate around 255 rupees, market sources said. Some analysts said the central bank should have depreciated by more to achieve to boost remittances significantly, and some expected an even bigger devaluation of up to 25% later in the year. "Given the relatively unsustainable level of debt as outlined by the IMF during its recent Article IV assessment, we continue to factor a restructuring during the year." "The recent 100 bps hike in key policy rates combined with the exchange rate correction are key stepping stones for the country to move towards an IMF led restructuring program," Asia Securities said in its latest Macro Outlook update. "But without clear communication on intention for IMF program and debt restructuring, it does not mean much right now."Īnalysts said the devaluation was insufficient by itself, and the government needed to take additional policy steps, including increasing taxes to shore up public revenues and adjusting fuel prices. "Currency flexibility is something IMF will see as a pre-condition to a program, so it makes future negotiations with them easier," Thilina Panduwawala, Head of Economic Research at Frontier Research said. He did not say whether the government would approach the IMF. Dirham to Rupee Exchange Rate Today, Live 1 AED to INR 22. "We believe this will support growth and assist us to face external challenges better," Cabinet spokesman and Media Minister Dullas Allahaperuma told reporters on Tuesday. Pound to Rupee Rate Dips to 6-week Lows, GBP/INR to Test 100.As yet, Sri Lanka has not formally sought talks on an IMF programme, an IMF official said, declining to be named.Latest Rupee News, Predictions and Forecasts from Our News Team Handy Conversion Data Table Dirhams to Rupees Q: Is the Dirham going up or down against the Rupee?Ī: Today's exchange rate (22.4435) is higher compared to yesterday's rate (22.3902).Ī: 50 Dirhams buys 1122.175 Rupees at interbank exchange rates. Q: What is the Dirham worth against the Rupee?Ī: One Dirham is worth 22.4435 Rupees today India received 83 billion in remittances in 2020, according to the World Bank. Set up exchange rates alerts to get notified when the USD vs. ![]() This means weve seen an increase of 181 (2.27) over the past month. If you are sending money to India from the US, a weaker rupee means more value for the same amount of dollars. A month ago, 100 US dollars was worth 7971.7 Indian rupees. To convert Dirhams to Rupees or determine the Dirham Rupee exchange rate simply use the currency converter on the right of this page, which offers fast live exchange rate conversions today! Currently 100 US dollars is equivalent to 8152.7 Indian rupees. For full history please visit AED/INR exchange rate history page
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