UAE Dirham Currency Code: A Comprehensive Guide

The UAE Dirham currency code is AED, which stands for Arab Emirates Dirham. This code is used internationally to represent the currency.

You can find the AED code on exchange rate websites, currency conversion tools, and even on your smartphone's calculator app. It's a widely recognized and accepted code globally.

The UAE Dirham is pegged to the US Dollar, which means its value is tied to the value of the dollar. This peg is maintained by the Central Bank of the UAE, ensuring stability in the currency's value.

This peg is a key factor in the UAE Dirham's stability and reliability, making it a popular choice for international trade and investment.

The AED, or United Arab Emirates Dirham, is the official currency of Dubai and other Emirates. It's been the official currency since 1973, when it replaced several other currencies.

You might see the AED symbolized as Dhs or DH, but whatever you call it, it's the currency you'll need to know when traveling to the UAE. The AED is made up of 100 fuloos, which is the plural form of fils.

A fils is also the sub-unit for a few other currencies, including the Kuwaiti dinar, Iraqi dinar, Bahraini dinar, and Yemeni rial. The AED comes in a range of denominations, from 5 to 1,000 dirhams.

Banknotes are issued by the Central Bank of the United Arab Emirates, and they feature a special watermark to prevent counterfeiting. The watermark is the national emblem, a golden falcon with a disk surrounded by seven stars.

The UAE dirham currency code has a unique exchange rate system. The dirham is pegged to the US dollar at a fixed rate of 1 USD to 3.6725 AED since 1997.

The UAE government has chosen to peg its currency to the US dollar due to the country's reliance on the oil industry. Oil prices are denominated in US dollars, so pegging the dirham to the dollar reduces the volatility of exports.

In 2017, the UAE had a gross domestic product of about $382.6 billion, making it the 30th largest in the world. The country's economy is diverse, with a focus on oil exports and natural gas reserves, although it has been making progress toward diversification.

The dirham is considered one of the world's most stable currencies in terms of exchange rate stability. It ranks 24th most stable currency globally, according to the World Competitiveness Centre of the International Institute for Management Development.

Here are some exchange rates for the UAE dirham against other popular currencies:

The peg to the US dollar has its advantages and disadvantages. On the one hand, it reduces the volatility of exports, but on the other hand, it can work against government strategy, such as during times of oil price collapse.

When sending payments in AED to the UAE, you'll need to include the beneficiary's IBAN, name, and address in the payment instructions.

The payment processing time can vary, but domestic transfers within the UAE are typically processed quickly, while international transfers may take a few business days.

Banks and financial institutions may apply fees and charges when processing international payments, so it's essential to check with your bank to understand the associated charges.

To ensure timely delivery, consider the processing time when planning your payment, and use tools like the iBanFirst Payment Tracker to track your payments and ensure a smooth experience.

The currency symbol for the United Arab Emirates dirham is AED.

You can use AED to represent the dirham in transactions, but did you know it's also used to exchange the dirham with other currencies like the Swiss franc (CHF), Colombian peso (COP), and others listed in the currency conversion table.

The AED symbol is widely recognized and accepted, making it easy to use in international transactions.

Payments in AED can be a bit tricky, but with the right information, you'll be all set. To make a payment in AED, you'll need to include the beneficiary's IBAN, name, and address in the payment instructions.

You should also be aware that payment processing time can vary, with domestic transfers typically processed quickly and international transfers taking a few business days.

Here's a breakdown of the fees and charges you might incur: Banks and financial institutions may apply fees and charges when processing international payments, so it's a good idea to check with your bank to understand the charges associated with your transaction.

To track your payments and stay on top of things, consider using the iBanFirst Payment Tracker.

Domestic transfers within the UAE are typically processed quickly, so if you're sending money to someone within the country, you can expect it to arrive quickly.