Filipinos cashing in on the strong U.S. dollar

Overseas Filipinos have been remitting through UAE Exchange for close to four decades

The recent strengthening of the U.S. dollar was a boon for many Filipino expatriates in the UAE. Not only were they able to send more money home but some of them had been lucky to win cash prizes for remitting during Ramadan.

For instance, Cherie Ann Alvarico Ravelo from the Philippines who works as an HR officer in Dubai, and one of the weekly winners in the UAE Exchange summer promotion, said: “I first thought it was a prank call and disconnected the line. When UAE Exchange called again, I spoke to my friend and we cross-checked at the branch where I regularly remit money. Once the branch representative confirmed, I was speechless as I couldn’t believe that I had won $5,000. With the exchange rate being high now, I plan to send the prize money to my family.”

Abdel Kareem Alkayed, Country Head, UAE Exchange-UAE said: “Our intent behind this year’s summer promotion is to make a positive impact on the lives of as many people as possible. That’s why we have a large number of cash prizes up for grabs including daily and weekly prizes apart from the mega draw. Overseas Filipinos (OFWs), who form a large section of our customer base, have been remitting to their home country through UAE Exchange for close to four decades now. The active participation of this community in all our campaigns is a testament in itself. We congratulate all the winners who have won so far and wish others good luck for the remainder of the promotion.”

During the promotion period, open till June 16, customers who are remitting via UAE Exchange retail or digital channels, exchanging foreign currency, reloading gocash card, investing in National Bonds or are Smart Pay employees collecting salary from UAE Exchange, stand a chance to win daily cash prize of $2,500, weekly cash prize of $5,000, mega prize of $100,000, and surprise gifts through on-ground and online contests.