What Is Currency in Dubai Called?
Dubai, the dazzling city in the United Arab Emirates (UAE), is known for its luxurious lifestyle, breathtaking architecture, and vibrant culture. As a tourist or expat visiting Dubai, it’s important to familiarize yourself with the local currency. In Dubai, the official currency is the UAE dirham (AED).
Understanding UAE Dirham
The UAE dirham is symbolized by the abbreviation AED. It is derived from the word “dirham,” which was originally a silver coin used in many Arab countries. The modern-day UAE dirham has been in circulation since 1973 and is available in both coins and banknotes.
Denominations
The UAE dirham is available in several denominations:
- Coins:
- 25 fils
- 50 fils
- 1 dirham
- Banknotes:
- 5 dirhams
- 10 dirhams
- 20 dirhams
- 50 dirhams
- 100 dirhams
- 200 dirhams
- 500 dirhams
The coins are available in smaller denominations and are commonly used for day-to-day transactions, while the banknotes are used for larger purchases.
Currency Exchange
If you are traveling to Dubai from another country, you may need to exchange your currency for UAE dirhams. Currency exchange services can be found at airports, hotels, and various exchange centers throughout the city.
It’s always a good idea to compare exchange rates and fees before making a transaction. Some exchange centers may have better rates than others, so it’s worth doing some research to get the most favorable deal.
Accepted Currencies in Dubai
While the UAE dirham is the official currency in Dubai, many establishments also accept major international currencies such as the US dollar, euro, British pound, and Japanese yen. However, it’s important to note that paying with foreign currency may result in less favorable exchange rates or additional fees.
Tips for Handling Currency in Dubai
Here are some helpful tips for handling currency in Dubai:
- Carry Small Denominations: It’s advisable to carry smaller denomination notes and coins for day-to-day expenses and local markets where change might be limited.
- Use ATMs: ATMs are widely available throughout Dubai and offer convenient options for withdrawing cash in local currency.
- Credit Cards: Credit cards are widely accepted in most establishments in Dubai. However, it’s always good to carry some cash for smaller vendors or establishments that may not accept cards.
- Negotiating Prices: In traditional markets or souks, bargaining is a common practice. Don’t hesitate to negotiate prices but do so respectfully.
In Summary
The official currency of Dubai is called the UAE dirham (AED). It is available in coins and banknotes of various denominations.
While many establishments accept major international currencies, it’s advisable to carry UAE dirhams for smoother transactions. Keep in mind the tips mentioned above when handling currency in Dubai to make your experience more convenient.