An increase has been seen in remittances from the United Arab Emirates in the recent times, owing to the South Asian currencies performance against the dirham. But many wonder will such a trend would continue in February.

According to Gulf News, the Pakistani rupee may continue to strengthen it the weeks to come while the Indian rupee and the Philippine peso are expected to stay steady against the UAE dirham.

The rupee closed at Rs279.9 against the dollar on Friday, according to the country’s central bank. Moreover, its exchange rate against the dirham was 76.20.

Many believe that the rupee would continue to gain against the greenback in a month, making it profitable for overseas Pakistanis to send money back home. Forex rates will stay largely unchanged in the next few weeks, the news outlet added.

While quoting a research, it added that the rupee might gain eight paisas against dirham that would bring the exchange rate to 75.40 at the end of February. Moreover, the Pakistani currency is expected to continue the momentum in next month.

The $3 billion stand-by arraignment with the International Monetary Fund was a much-needed lifeline for the South Asian country. The deal paved the way for inflows of loans from other lending agencies and roll over of deposits by the friendly countries.