Recently, remittances from the Saudi Arbia have increased as several currencies, particularly South Asian currencies, have lost momentum and recorded remittance-beneficial rates. But will the currency trend continue?

Yes, it is evidently true. In the coming weeks, the Indian rupee, Pakistani rupee, and Philippine peso are expected to weaken. Here's when and how you can take advantage of these remittance-beneficial rates. You can find the latest forex rates here.

Is the currency back home going to rise or fall?

Whether it is a good time to send money back home depends on the time of year. You can determine whether your currency back home is expected to rise or fall in the coming days by finding out whether it is expected to rise or fall.

Below is an analysis of how the aforementioned currencies have been performing and are expected to perform in the coming week, to help you determine whether remitting money now is profitable or cost-effective, or whether you should wait for a better rate to appear.

It would be prudent to take advantage of more remittance-friendly rates if a currency is expected to weaken or depreciate, like the above-mentioned currencies. When it comes to currencies that are expected to appreciate, it would be more cost-effective to remit now since the rates will only rise in the near future.

Hold your remittances as Indian rupee value drops further

So far this year, the rupee has depreciated by 9.5% as the central bank defends it with dollar sales that have depleted its forex reserves to $545 billion from $642 billion.

Abheek Barua, Chief Economist at HDFC Bank, wrote in a note this week that the central bank must intervene to prevent the falling currency from overshadowing India's fundamentals.

It may be beneficial to close the trade gap through a depreciating currency, but the damage to the capital account from reduced investor confidence will outweigh it, according to him.

Barua believes that the central bank will need to consider ways to increase its forex reserves if the pool shrinks to near $500 billion in the near future. He said that more capital is needed at this point to stabilize the rupee and replenish the RBI's reserves.

As a way to encourage more foreign investment, the RBI in July allowed banks to raise foreign currency non-resident deposits at higher costs. Analysts say those measures have only marginally helped.

Maybe the central bank should consider other options like those in 2013 when the rupee came under pressure due to the  Federal Reserve tapering bond purchases. Perhaps it's time to revisit the taper tantrum playbook, subsidize forwards, and get lumpy non-resident deposits in, Barua said.

According to him, NRIs are sensitive to India's solid fundamentals and could be persuaded to deposit their dollars at attractive rates in the country. Will the currency decline in the coming weeks? Since the US dollar is expected to strengthen in the weeks to come, research indicates that the currency will drop.

Pakistani rupee value to weaken, hold remittance​

Tuesday, the Pakistani rupee (PKR) continued to rise against the US dollar in the interbank market.It was trading at Rs234 in the interbank market at the start of the trading session, up Rs3.02 against the greenback.

In the last three trading sessions, the dollar has depreciated by Rs5.71 PKR against the local currency. Pakistan's total debt was reduced by Rs740 billion as a result of the recent decline in the value of the greenback.

After several positive cues, the rupee came close to reaching a record low of 240 against the dollar.

By month's end, the Philippine Peso will drop even more, remitting will take longer

According to the Bankers Association of the Philippines, the Philippine peso closed at 58.50 pesos on Friday, a record low against the US dollar.

58.49 pesos became the new record on Thursday, the tenth time the Philippine currency fell to an all-time low, depreciating by more than 13 percent.

As a result of the US Federal Reserve's sharp interest rate increase overnight, the peso weakened, causing the US dollar to rise.

Due to the "aggressive" monetary policy of the US Fed, some analysts fear that the peso will continue to depreciate.