Money in Dubai, the bustling city in the United Arab Emirates (UAE), is known as the UAE dirham. The dirham is abbreviated as AED, which stands for Arab Emirate Dirham. It is the official currency of Dubai and other emirates in the UAE.
The UAE Dirham
The UAE dirham has been the official currency of Dubai since 1973 when it replaced the Gulf rupee. The dirham is issued by the Central Bank of the UAE and comes in denominations of 5, 10, 20, 50, 100, 200, 500, and 1000 dirhams.
Coins and Banknotes
The dirham is further divided into fils. There are coins available in denominations of 1, 5, 10, 25 fils, and 1 dirham. The banknotes come in denominations of 5, 10, 20, 50, 100, and even higher values like 200 and 1000 dirhams.
Exchange Rates
Exchange rates for the UAE dirham can fluctuate depending on various factors such as economic conditions and market forces. It is advisable to check with authorized exchange centers or banks for accurate rates before making any currency conversions.
Where to Exchange Money
Dubai has a multitude of exchange centers located throughout the city. These centers offer competitive rates for exchanging foreign currencies into dirhams. Additionally, banks also provide currency exchange services to their customers.
Using Credit Cards
In Dubai, credit cards are widely accepted at most establishments including hotels, restaurants, shopping malls, and tourist attractions. International credit cards such as Visa and Mastercard are commonly used, along with locally issued cards.
Tips for Handling Money
- It is essential to carry some cash in smaller denominations for convenience.
- Keep an eye on your belongings and be cautious of pickpockets, especially in crowded areas.
- Always keep the contact information of your bank or credit card company readily available in case of any issues or emergencies.
- Notify your bank or credit card provider about your travel plans to ensure smooth transactions and avoid any potential blocks on your cards.
Conclusion
The UAE dirham is the official currency of Dubai and other emirates in the UAE. Understanding the currency, exchange rates, and tips for handling money will help you navigate Dubai’s financial landscape with ease. Whether you choose to use cash or credit cards, Dubai offers a range of options for convenient transactions during your visit.