As the month comes to a close and payday rolls around for many Filipinos in the UAE, those looking to send money back to the Philippines should be aware of a slight decline in the exchange rate.
According to the latest data from our remittance partner, LM Exchange, 1 UAE Dirham (AED) is trading at 15.40 Philippine Pesos (PHP) as of today, August 31, 2023.
This represents a small decrease from yesterday’s rate of 15.43 PHP for 1 AED. While the change may seem minimal, every centavo matters for those regularly remitting money back home.
These slight fluctuations can cumulatively make a difference in the amount your loved ones receive.
If you’re in the process of making remittance decisions on this payday, today’s dip in the exchange rate could be a factor to consider.
For those who regularly send money to the Philippines, keeping an eye on these daily shifts is key to maximizing the value of your hard-earned income.