Dubai, the vibrant and cosmopolitan city in the United Arab Emirates, has its own currency known as the UAE dirham (AED). The dirham is abbreviated as “AED” and is often represented by the symbol “د.إ”. Let’s dive deeper into understanding more about the currency of Dubai.
The UAE Dirham
The UAE dirham has been the official currency of Dubai and the rest of the United Arab Emirates since 1973. It replaced the Gulf rupee at a fixed exchange rate of 1 dirham to 0.186621 grams of gold, which was equivalent to one US dollar at that time.
Since then, the UAE dirham has been pegged to the US dollar at a fixed exchange rate of 1 USD to 3.67 AED. This means that the value of 1 dirham remains constant in relation to the US dollar.
Banknotes and Coins
The UAE dirham is available in both banknotes and coins. The banknotes come in denominations of:
- 5 AED: This note features a brown color and depicts a portrait of Sheikh Zayed bin Sultan Al Nahyan, the first president of the UAE.
- 10 AED: The 10-dirham note is green and also features Sheikh Zayed bin Sultan Al Nahyan.
- 20 AED: With a blue color, this note showcases an image of Sheikh Rashid bin Saeed Al Maktoum on one side.
- 50 AED: Orange in color, this note highlights Sheikh Khalifa bin Zayed Al Nahyan, who succeeded Sheikh Zayed as the president of the UAE.
- 100 AED: The 100-dirham note is purple and features a portrait of Sheikh Mohammed bin Rashid Al Maktoum, the current ruler of Dubai and Vice President and Prime Minister of the UAE.
- 200 AED: This note is yellow-brown and portrays an image of the late Sheikh Zayed bin Sultan Al Nahyan.
- 500 AED: With a greenish-blue color, this note features Sheikh Zayed bin Sultan Al Nahyan.
- 1000 AED: The largest denomination, this brown note showcases an image of Sheikh Zayed bin Sultan Al Nahyan.
In addition to banknotes, coins are available in denominations of 1 dirham, 50 fils (half a dirham), 25 fils, 10 fils, and 5 fils. These coins are often used for smaller transactions.
Currency Exchange
To obtain UAE dirhams in Dubai, you can exchange your currency at various locations such as banks, exchange houses, and airports. It is important to compare exchange rates to ensure that you get the best value for your money. Most major currencies like US dollars, British pounds, euros, and Japanese yen can be easily exchanged for dirhams.
Tips for Handling Currency in Dubai
- Cash or Card: While cash is widely accepted in Dubai, credit cards are also commonly used. It is advisable to carry a combination of both for convenience.
- Currency Exchange at Airports: If possible, avoid exchanging large amounts of currency at airports, as exchange rates may not be as favorable.
- ATMs: Dubai has a vast network of ATMs where you can withdraw cash in dirhams using your debit or credit card. Just ensure that your card is enabled for international transactions.
- Tipping: Tipping is customary in Dubai, so it’s a good idea to carry small denominations of dirhams to tip service staff at hotels, restaurants, and taxis.
Dubai’s currency, the UAE dirham, is an essential part of daily life in the city. Understanding its value and how to handle it can make your stay in Dubai more enjoyable and hassle-free. So whether you’re visiting for business or pleasure, be prepared with some dirhams in your pocket!