Currency comparison is a crucial aspect when it comes to international trade, tourism, and investment. It helps in understanding the purchasing power of different countries and their economic standing in the world. In this article, we will compare two major currencies – Dubai’s Dirham and India’s Rupee and explore whether Dubai currency is higher than India.
Dubai Currency – Dirham
The Dirham is the official currency of Dubai and the United Arab Emirates (UAE). It is abbreviated as AED or Dh.
The Dirham was introduced in 1973, replacing the Qatar and Dubai Riyal. The UAE is one of the wealthiest countries in the world due to its vast oil reserves, which has helped establish a strong currency.
Indian Currency – Rupee
The Indian Rupee is the official currency of India. It is abbreviated as INR and was introduced in 1540 AD during the reign of Sher Shah Suri. The Reserve Bank of India (RBI) issues and regulates the Indian Currency.
Comparison between Dubai Currency (Dirham) and Indian Currency (Rupee)
As of September 2021, 1 United Arab Emirates Dirham equals approximately 20.15 Indian Rupees. This means that when exchanging money from Dirham to Rupees or vice versa, one would get more rupees for each dirham exchanged.
Factors affecting exchange rates
Exchange rates are determined by various factors like inflation rates, interest rates, political stability, economic growth rate, government policies, etc.
Impact on tourism
Dubai’s strong economy has made it an attractive tourist destination for Indians who wish to visit. Many Indians travel to Dubai for work or leisure purposes as it offers several luxury experiences like shopping festivals, water sports activities, etc. Due to favorable exchange rates between Dirham and Rupee, it is economical for Indian tourists to visit Dubai.
Impact on trade
Dubai has a booming trade industry, and India is one of its significant trading partners. The favorable exchange rates between Dirham and Rupee make it easier for businesses in both countries to conduct transactions.
Conclusion
In conclusion, one can say that currently, Dubai currency (Dirham) is higher than Indian currency (Rupee) due to favorable exchange rates. However, exchange rates are highly volatile and subject to change depending on various economic factors. It is always advisable to keep track of the exchange rate before conducting any international transactions.
- Tip: Use online currency converters or seek professional advice before exchanging currencies.
- Note: Exchange rates mentioned in this article are as of September 2021 and are subject to change.
References:
- “Dubai Currency – Dirham (AED)” – XE.com
- “Indian Currency – Rupee (INR)” – Reserve Bank of India
- “UAE-India trade ties” – Khaleej Times
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