What Currency Is Used in Dubai UAE

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Detailed monochrome image of a Moroccan banknote showcasing intricate designs.
Credit: pexels.com, Detailed monochrome image of a Moroccan banknote showcasing intricate designs.

In Dubai, UAE, the official currency is the United Arab Emirates Dirham (AED). It's widely accepted and used throughout the country.

You can exchange your currency for AED at the airport, banks, or currency exchange offices. Major credit cards are also widely accepted in Dubai.

The AED is pegged to the US dollar, which means its value is fixed in relation to the dollar. This stability makes it easier for tourists and business travelers to plan their finances.

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UAE Dirham Currency

The UAE Dirham currency is the one you'll need to get familiar with when traveling to Dubai and the UAE. The Central Bank of the United Arab Emirates is in charge of minting coins and issuing banknotes.

You'll find coins in circulation with denominations of 1, 5, 10, 25, and 50 fils, as well as 1 dirham. Banknotes come in denominations of 5, 10, 20, 50, 100, 200, 500, and 1,000 dirhams.

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Credit: youtube.com, Currency of the world - United Arab Emirates. United Arab Emirates dirham. Exchange rates UAE

The best currency to use in the UAE is the UAE Dirham, represented by the international code AED and the symbol د.إ. You'll find that coins of 1, 5, and 10 fils are not used in everyday life, so amounts are rounded up or down to the nearest multiples of 25 fils.

The UAE Dirham has a rich history, tracing its roots back to the ancient Greek word 'drachmae', which translates to 'handful' in English. This historical link tells about the region's longstanding trade and currency exchange tradition.

The new polymer AED 500 banknote features a prominent image of the Terra Sustainability Pavilion, showcasing the UAE's commitment to environmental responsibility.

Coins and Banknotes

In the UAE, you'll find coins in denominations of 1, 5, 10, 25, 50 fils, and 1 dirham. The 1, 5, and 10 fils coins are rarely used in everyday life, so amounts are often rounded up or down to the nearest multiples of 25 fils.

Credit: youtube.com, What Is The Currency In Dubai UAE? - Middle East Explorers

The value and numbers on the coins are written in Eastern Arabic numerals and the text is in Arabic. The 1 fils coin is a rarity, so if you find one, consider keeping it!

The UAE coins come in various shapes, with the 1 fils coin being circular and the 50 fils coin being curve-equilateral-heptagonal. The higher denominations, such as the 25 fils and 1 dirham coins, have a milled edge.

Here's a quick look at the UAE coins:

Coins and Banknotes

The UAE introduced coins in 1973 in denominations of 1, 5, 10, 25, and 50 fils, and 1 dirham. The 1, 5, and 10 fils coins are rarely used in everyday life, so amounts are rounded up or down to the nearest multiples of 25 fils.

The fils coins are made of bronze, while the higher denominations are made of cupro-nickel. The 50 fils coin was reduced in size in 1995 and is now curve-equilateral-heptagonal shaped.

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The value and numbers on the coins are written in Eastern Arabic numerals, and the text is in Arabic. The 1 fils coin is a rarity and does not circulate significantly.

Here are the details of the UAE coins:

These coins have unique symbols on the obverse (front) and reverse (back). The obverse features a symbol representing the coin's value, while the reverse features the lettering 'United Arab Emirates' in English and Arabic, along with the coin's denomination.

Banknotes

The UAE has a wide range of banknotes in circulation, each with its own unique features and designs.

The UAE Currency Board introduced notes in denominations of 1, 5, 10, 50, 100, and 1000 Dirham in 1973, with a second series introduced in 1982 that omitted the 1 and 1000 Dirham notes.

You can spot the national bird of the UAE, the falcon, on the 200 dirham note, which also features a picture of the Al Fahidi Fort and World Trade Centre.

Credit: youtube.com, Unboxing New Banknotes and Coins

The largest denomination of bank notes in the UAE is the 1,000 dirham note, which was reintroduced in 2000 and features a space-themed layout.

The new design of the 1,000 dirham note includes a portrait of UAE's founding father and a space shuttle, with the words "Emirates Mission to Explore Mars – the Hope Probe" referring to the UAE's 2021 mission to Mars.

The UAE Central Bank released a new 1,000 dirham banknote for the 51st National Day, which features different hues of brown, classic 'blue marks of the UAE nation brand', drawings, and inscriptions.

You can also spot a picture of the UAE skyscraper in 1998 on the flip side of the AED 1,000 banknote, showcasing the country's commitment to progress.

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Exchange and Usage

The UAE Dirham is the official currency of Dubai and the United Arab Emirates. It's represented by the international code AED and the symbol د.إ.

The UAE Dirham is pegged to the US dollar, with a fixed exchange rate of US$1 = Dhs 3.6725. This translates to approximately Dh 1 = US$0.272294.

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Credit: youtube.com, Dubai Currency Exchange Guide 🇦🇪 | Helpful Guide for Visitors | Dubai Travel - Episode#4

You can exchange your currency for UAE Dirhams at a money changer or a bank. Changing your money to the UAE Dirhams prior to your trip would be ideal, but there are also money changers available if that's not the case.

The Central Bank of the United Arab Emirates is the authority in charge of minting coins and issuing banknotes. Coins in circulation include 1, 5, 10, 25, and 50 fils, as well as 1 dirham. Banknotes come in denominations of 5, 10, 20, 50, 100, 200, 500, and 1,000 dirhams.

Here are the available banknote and coin denominations in the UAE Dirham:

  • Banknotes: 5, 10, 20, 50, 100, 200, 500, 1000 dirhams
  • Coin denominations: 1, 5, 10, 25, 50 fils, 1 dirham

It's worth noting that coins of 1, 5, and 10 fils are not used in everyday life, so amounts are rounded up or down to the nearest multiples of 25 fils.

Where It All Started

The UAE Dirham has a rich history that dates back to the 19th century, but its modern form was introduced on May 19, 1973, when it replaced the Qatar riyal.

Credit: youtube.com, SHOWING THE DUBAI CURRENCY (DIRHAM)

The new currency was initially minted with denominations of 1, 5, 10, 25, 50 fils and 1 dirham, with the 1, 5, and 10 fils coins produced in bronze and the rest in cupronickel.

Before the UAE Dirham was introduced, the emirates used the Gulf Rupee, which had its value tied directly to the Indian rupee, but in 1966, India devalued the Gulf Rupee, prompting the emirates to seek a new currency solution.

The UAE Dirham was pegged to the International Monetary Fund special drawing rights on January 28, 1978, but in practice, it's set to the US dollar.

The first series of banknotes was issued in 1973, and the second series was introduced in 1982, replacing the 1 and 1,000 dirham denominations.

The UAE Dirham has undergone several changes over the years, including a reduction in the size of coins in 1995, and the introduction of new denominations such as 500 dirham notes in 1983 and 1000 dirham notes in 2000.

Pre-Trip Planning

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Before you start packing your bags for Dubai, it's a good idea to plan ahead and get your UAE currency in order. You can buy UAE Dirhams online and have them delivered to your door or collect them in-store.

There are three main options for buying UAE currency: buying online, buying from a bureau de change, or buying at your home airport. However, bureau de change desks at Australian airports are known for their poor rates, so it's best to avoid them.

Ordering your currency online is a fuss-free way to secure your travel money. Online currency providers offer competitive deals that you're unlikely to find elsewhere. For example, S Money offers the same rate listed on Google and XE.com.

If you're in the city, you can also visit a CBD bureau de change. Suburban outlets don't have the same level of competition, which can result in higher prices and poorer rates.

Credit: youtube.com, UAE Polymer/Plastic Currency Notes Features

Here are the three main options for buying UAE currency:

  • Buy AED online and have it delivered or collect it in-store.
  • Buy from a bureau de change in the city (CBD).
  • Buy at your home airport (but be aware of the poor rates).

By planning ahead and getting your UAE currency in order, you can start preparing for your trip to Dubai without any hassle.

Acceptance and Usage

The UAE Dirham is the currency you'll want to have with you in Dubai and the UAE. It's represented by the international code AED and the symbol د.إ.

You can find UAE Dirham banknotes in denominations of 5, 10, 20, 50, 100, 200, 500, and 1000 dirhams. Coins are available in 1, 50, and 25 fils, but the 1, 5, and 10 fils coins aren't commonly used.

Rounding up or down to the nearest multiple of 25 fils is the norm in everyday life. This means you won't see the smaller coins being used often.

It's highly recommended to acquire UAE Dirham banknotes and coins before your trip to Dubai and the UAE.

Teri Little

Writer

Teri Little is a seasoned writer with a passion for delivering insightful and engaging content to readers worldwide. With a keen eye for detail and a knack for storytelling, Teri has established herself as a trusted voice in the realm of financial markets news. Her articles have been featured in various publications, offering readers a unique perspective on market trends, economic analysis, and industry insights.

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