Dubai is one of the most popular cities in the world, known for its luxurious lifestyle and modern architecture. However, one question that often comes up is what Dubai money is called. In this article, we will explore the different types of currency used in Dubai and answer this commonly asked question.
The Official Currency of Dubai
The official currency of Dubai is the United Arab Emirates dirham, abbreviated as AED. It was introduced in 1973 to replace the Qatar and Dubai riyal. The dirham is divided into 100 fils and has both coins and banknotes.
Banknotes
The banknotes used in Dubai are available in denominations of 5, 10, 20, 50, 100, 200, 500 and 1,000 dirhams. Each banknote has a unique color scheme with images of various iconic landmarks present across the city.
Coins
Similar to other currencies around the world, coins are also used as a form of currency in Dubai. Coins available include those for values of 1 fil, 5 fils, 10 fils, 25 fils and 50 fils.
What is Dubai Money Called?
As mentioned earlier, the official currency used in Dubai is called the United Arab Emirates dirham or AED for short. However, it’s worth noting that sometimes people may refer to it as “Dubai money” or simply “dirham” when speaking informally.
Where Can You Exchange Money?
If you are visiting Dubai from another country or have foreign currency that you need to exchange for dirhams there are several options available. Most hotels offer currency exchange services but be sure to check their exchange rates before exchanging your money there as they may not be competitive.
Alternatively, you can visit a local bank or money exchange bureau. These establishments are generally located in popular tourist areas and will have competitive exchange rates.
The Value of Dubai Currency
The value of the Dubai currency, like any other currency, fluctuates depending on various factors including global economic conditions, geopolitical events, and oil prices. However, as a general rule of thumb, the UAE dirham is considered a stable currency with a relatively steady exchange rate against most major currencies.
Conclusion
In conclusion, the official currency used in Dubai is called the United Arab Emirates dirham or AED for short. It’s available in both coins and banknotes with various denominations.
If you are visiting Dubai from another country or have foreign currency that you need to exchange for dirhams there are several options available including hotels, banks and money exchange bureaus. The value of Dubai currency is relatively stable compared to most major currencies.