UAE: Filipino workers abroad may be getting more value for every dirham or dollar they send home today.
The Philippine peso remains weak against major currencies, trading around ₱60 per $1 and about ₱16.3 per dirham, as of the start of April. This means OFWs can send the same amount—but their families can receive more pesos, if remittances are timed strategically.
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Why the Peso Is Weak Right Now
Several global factors are affecting the peso:
- Ongoing tensions in the Middle East
- Strength of the US dollar (which affects the UAE dirham)
- Market uncertainty linked to global politics
At the same time, seasonal demand is rising.
According to economists, remittances increase during Holy Week and school season, as families in the Philippines need more cash for travel and tuition.
This creates a strong “send window” for OFWs.
What This Means for Your Remittance
When the peso is weak:
- You get more pesos per dirham or dollar
- Your family’s budget stretches further
- You can cover more expenses with the same remittance
For example:
Amount Sent: $500
Old Rate (₱58/$1): ₱29,000
New Rate (₱60/$1): ₱30,000
That’s ₱1,000 extra—without earning more.
Smart Ways OFWs Can Take Advantage
Instead of sending money the usual way, here are smarter moves:
1. Split Your Transfers
Send part now, then wait.
- Lock in today’s good rate
- Keep some funds in case rates improve further
This is already being done by many expats, based on exchange house insights.
2. Time Big Expenses
If your family has upcoming costs like:
- Tuition (May–June)
- Debt payments
- House repairs
Send when the peso is weakest to maximize value.
3. Avoid Panic Sending
Don’t send everything at once out of fear.
Markets move fast. A better rate could still come.
4. Watch the Dollar Trend
Since the dirham is tied to the US dollar:
Strong dollar = weaker peso
Weak dollar = stronger peso
Keep an eye on global news—it affects your money directly.
What OFWs Should Do Now
This is not just a “good time” to remit—it’s a chance to be more strategic.
If you’re sending money regularly, as most OFWs do, now’s a good time to:
- Review your transfer timing
- Compare exchange rates daily
- Plan around big expenses
Remember: Even small changes in timing can mean thousands of pesos more per month.