The currency of Dubai is the dirham of the United Arab Emirates, which was introduced on May 19, 1973. Today it is a very strong and stable currency, linked to the US dollar.
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Dubai Currency
The currency of Dubai is the dirham of the United Arab Emirates, which was introduced on May 19, 1973. Today it is a very strong and stable currency, linked to the US dollar.
The official currency of Dubai and the United Arab Emirates is the dirham , which has the AED code and is often abbreviated as Dhs or DH. Each dirham is divided into 100 fils .
The tickets have a change of 5, 10, 20, 50, 100, 200, 500 and 1,000 dirhams: the text on the front side is in Arabic, while on the back it is in English. The coins, on the other hand, are 1 dirham and 50 and 25 fils.
The exchange rate between the dirham and the US dollar is set at 3.6725 dirhams for one dollar, that is, a dirham is equivalent to 0.272 dollars, but not all other international currencies are linked to the dollar, so the rates The exchange rate of the dirham varies daily but not greatly, given the stability of the dollar.
The bills
The colors of the notes are brown for those of 5 dirhams, green for those of 10 dirhams, blue for those of 20 dirham, purple for those of 50 dirham, pink for those of 100 dirham, green and brown for those of 200 dirham, dark blue for those with 500 dirhams and water green for those with 1,000 dirhams.
The number of bills of 200 dirhams in circulation is scarce, since they were only printed in 1989: all the originals that are still seen today date back to that year, so in 2008 it was decided to reprint them in yellow and brown.
Change money in Dubai
There are many banks and exchange offices in the city where changing money is very easy. They are found almost everywhere in the city, but watch out for the fact that Fridays are all closed: in this case you have to enter a shopping center, most of which has at least one bank and a couple of offices change.
Due to the different ethnic groups that live in the city and the large number of tourists, banks and exchange offices in Dubai usually have more money available than European ones: there will be no problem in changing most of the currencies of the world.
The exchange offices often offer better rates than banks, and as in any other city in the world change at the airport is discouraged because they have the worst exchange rates can be found: the advice is to change the airport only Fair and essential for the taxi, the subway or the bus, and look for an exchange office when you arrive in the city.
The exchange offices have more opening hours than banks, open at 8 or 9 in the morning and close late at night. Most of them also offer some additional services such as money transfer, bill payment and telephone top-ups.
Banks in Dubai
Dubai is a global financial center and in its territory there are many banks, both local and international.
Foreign banks with a significant presence in Dubai include Barclays, Citibank, HSBC and Standard Chartered, while some of the local banks are Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Dubai Islamic Bank, National Bank of Abu Dhabi or Union National Bank Opening hours vary by bank, but most are from Saturday to Thursday from 8 in the morning until 13 or 14, while inside the shopping centers they close around 9 and are also open on Fridays.
They all offer the currency exchange service. Beware of the fact that almost all apply commissions, so it is important to evaluate the net effective exchange rate with the commissions included to see which one is the best.
The history of the coin
The name of Dírham comes from the Greek word Drachmae (meaning "useful"). Due to centuries and centuries of trade and use of currency, the dirham survived the Ottoman regime of the Arabian peninsula. The United Arab Emirates Dirham was introduced on May 19, 1973, replacing the Qatari and Dubai riyals at the same time, currency circulating in the region since 1966 in all the Emirates except in Abu Dhabi, where the Dirham replaced the dinar from Bahrain at the exchange rate of 1 dirham for 0.1 dinar. Before 1966, however, all the states that would form the United Arab Emirates used Gulf Rupee.
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