What Currency Is Used in Dubai UAE?
Dubai, one of the seven emirates that make up the United Arab Emirates (UAE), has its own currency called the United Arab Emirates dirham (AED). The dirham is abbreviated as AED and is commonly referred to as the Dubai currency.
United Arab Emirates Dirham (AED)
The United Arab Emirates dirham is the official currency of Dubai and the whole UAE. It was introduced in 1971, replacing the Qatar and Dubai riyal. The dirham is subdivided into 100 fils.
Denominations
The dirham is available in various denominations, including coins and banknotes. The current coins in circulation are 1, 5, 10, 25, and 50 fils, while banknotes come in denominations of 5, 10, 20, 50, 100, 200, 500, and 1000 dirhams.
Currency Exchange
To obtain Dubai’s currency – the dirham – travelers can exchange their money at airports, banks, exchange offices or use ATMs. It’s important to note that many businesses in Dubai accept major international currencies like US dollars or euros for certain transactions. However, it is recommended to have local currency for day-to-day expenses.
Benefits of Using Local Currency
- Convenience: Using local currency ensures smooth transactions without having to worry about exchange rates or additional fees.
- Avoiding Confusion: By using the local currency, you’ll avoid any confusion that may arise due to fluctuating exchange rates or unfamiliarity with foreign currencies.
- Better Bargaining Power: When shopping in local markets or negotiating prices, having local currency can give you an advantage and potentially lead to better deals.
Conclusion
The United Arab Emirates dirham (AED) is the official currency of Dubai and the UAE. It is widely accepted in Dubai, and it is recommended to have local currency for day-to-day expenses. By using the dirham, visitors can avoid confusion, enjoy convenience, and potentially have better bargaining power while exploring this vibrant city.