Dubai – Mubasher: Al Ansari Exchange, the subsidiary of Al Ansari Financial Services, stated that it is closely monitoring global currency markets following the recent US tariff announcements by President Donald Trump, according to a press release.
COO of Al Ansari Exchange, Ali Al Najjar, said: “While market volatility brings uncertainty, it also opens doors for well-informed financial decisions.”
Al Najjar noted: “Our deep expertise in navigating currency market fluctuations uniquely positions us to support our customers during this period.”
The company added that it remains committed to providing competitive exchange rates, transparent fees, and value-added services.
The US administration’s 2 April tariff measures, which include a 10% baseline tariff on imports with higher rates applied to specific countries, have contributed to a weakening of the US Dollar against several major currencies.
Al Ansari Exchange further stated that this shift presents both challenges and opportunities for individuals and businesses across the UAE.
The depreciation of the US Dollar against currencies like the Euro, Japanese Yen, and Chinese Yuan may pose challenges for UAE residents sending remittances to countries with strengthening currencies.
Meanwhile, the Indian Rupee (INR) has declined against the US Dollar following the recent tariff announcements.
In early morning trade on 3 April 2025, the INR weakened by 24 paise against the US Dollar. The same depreciation was also seen against other Asian currencies such as the Pakistani Rupee and the Philippine Pesos.
This development comes to the benefit of the UAE residents remitting funds to India, as favorable exchange rates may enhance the overall value received.
Al Ansari Exchange offers tailored solutions for businesses in the UAE to effectively manage currency risk and leverage exchange rate movements.
It is worth noting that Al Ansari Digital Pay, another subsidiary of the listed Al Ansari, recently obtained final approvals from the Central Bank of the UAE (CBUAE) for both the Stored Value Facility (SVF) and Retail Payment Services and Card Schemes (RPSCS) licenses.
