Is Dubai Using Dollar?
Dubai, the bustling city in the United Arab Emirates (UAE), is known for its ultra-modern architecture, luxurious hotels, and thriving business landscape. With its growing influence in the global economy, it’s natural to wonder about the currency used in this cosmopolitan hub.
So, is Dubai using the dollar? Let’s find out.
The Official Currency of Dubai
Dubai’s official currency is the UAE dirham (AED), which has been in circulation since 1973 when the UAE was formed. The dirham is abbreviated as AED and is further divided into smaller units called fils.
One dirham equals 100 fils.
Why Do People Think Dubai Uses Dollars?
Despite having its own currency, many people mistakenly believe that Dubai uses the US dollar due to its close ties with the United States and its reputation as an international business hub. While it’s true that dollars are widely accepted in some establishments, especially those catering to tourists, it’s important to note that it’s not the official currency.
Using Dollars in Dubai
Tourists visiting Dubai will find that many hotels, restaurants, and shops accept US dollars as a form of payment. However, it is advisable to carry local currency for day-to-day transactions as smaller establishments might not accept foreign currencies or may offer unfavorable exchange rates.
- Exchange Rates: If you choose to use dollars in Dubai, keep an eye on exchange rates to ensure you are getting a fair deal. Exchange bureaus can be found throughout the city and offer competitive rates.
- Credit Cards: Most establishments accept major credit cards such as Visa and Mastercard.
This can be a convenient option for tourists who prefer not to carry large amounts of cash.
- ATMs: ATMs are widely available in Dubai, allowing visitors to withdraw local currency using their international debit or credit cards. However, be mindful of any fees associated with international transactions.
The Benefits of Using Local Currency
While using dollars may seem convenient for tourists, there are several advantages to using the local currency in Dubai:
- Better Pricing: Some establishments may offer better prices when transactions are made in local currency, as they avoid potential fluctuations and exchange rate markups.
- Cultural Experience: Using dirhams provides an opportunity to immerse oneself in the local culture and experience the true essence of Dubai.
- Convenience: Carrying dirhams eliminates the need to constantly calculate exchange rates or worry about finding establishments that accept foreign currencies.
In Conclusion
While it’s a common misconception that Dubai uses the US dollar, the official currency remains the UAE dirham. Although dollars are widely accepted, it is advisable for tourists to carry local currency for everyday expenses and smaller establishments.
Understanding the local currency not only provides convenience but also enhances your experience in this vibrant city.