The currency in the UAE is the UAE dirham. Each dirham is divided into 100 fils.
When you’re buying currency for the UAE, look out for the currency code AED. And once you’re in the UAE, you’ll see the symbol د.إ used to show prices.
- Symbol: The Dirham is symbolized as “د.إ” in Arabic and often represented as “AED” or “Dhs” in common usage, especially in price tags and receipts.
- Denominations: The Dirham is subdivided into 100 smaller units called “fils”. Coins are available in denominations of 1, 5, 10, 25, 50 fils, and 1 Dirham. It’s worth noting that smaller denominations like 1 fils or 5 fils are less commonly used due to their low value.
Banknotes, with their distinctive and colorful designs, come in denominations of 5, 10, 20, 50, 100, 200, 500, and 1000 Dirhams. Each banknote showcases significant landmarks or leaders of the UAE, and their aesthetic designs and security features have been updated over the years to deter counterfeiting.
What’s important for travelers?
- Exchange Rates: While the AED is pegged to the US dollar, making its value relatively stable, it’s crucial to keep an eye on exchange rates. As of the last update, the exchange rate was approximately 3.67 AED to 1 USD but always check for current rates before making significant transactions.
- Availability: Given Dubai’s status as a global hub, AED is readily available in currency exchange outlets worldwide. However, rates in your home country might not be as favorable as those found in Dubai.
- Acceptance: While major credit cards are widely accepted in Dubai, carrying a certain amount of Dirhams is essential for places that don’t accept cards or for smaller transactions at local markets or souks.
In conclusion, understanding the basics of the AED will ensure a smoother financial experience in Dubai. In the following sections, we will discuss the best practices for obtaining Dirhams and tips for managing your finances during your trip.
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