Are you planning to visit the UAE sometime soon? You need to ensure that you have all the information available to help you out with your trip. Having all the details before going to a particular country is vital to help ease your planning. With the right exchange rates and the use of currency, you get some peace of mind while traveling. Here, we offer you some insight into the UAE Dirham and about Dollars to AED.
Dirham- The Official Currency Of UAE
Dirham is now known to be the official currency used in UAE. However, before 1973, Abu Dhabi and Dubai used different currencies for their transactions. After 1973, the issue of Emirati Dirham came into use.
You will now find that the UAE Dirham pegged to the US Dollar. Dollars to AED turn out to be 3.67. The pegging of the rate is for Dollars to AED between the two nations.
Now, let’s talk about the denominations that exist in the UAE Dirham. The denominations for Dirhams are in coins and notes. When it comes to Dirham coins, you will find that there are three denominations for them. These include 25 fils, 50 fils, and AED 1. On the other hand, you will find multiple denominations for Dirham notes.
These include 5, 10, 20, 50, 100, 200, 500, and 1000 notes. The multiple denominations allow you to make payments with ease. If you’re looking to convert dollars to AED, then you can reach out to exchange rate centers for this purpose. Whether it is hundreds or even millions, you can easily get this done.
Popular Exchange Rates With UAE Currency
Now, let’s see the more popular exchange rates present for UAE Dirhams. The exchange rates are mostly relevant to the period of 2020.
• British Pound
The first one we have is the British Pound. The GBP to AED ratio is 4.78, which is higher than the dollars to AED rate. If you convert 1 GBP to AED, you will get more AED compared to the dollar. The conversion was at its lowest during 2019 when it dipped to 0.20. So, converting millions of GBP will give you more AED.
Next, we have Euro. The exchange rate of Euro to AED is 4.04. The rate for Euro is also much higher than the dollars to AED ratio. If you were to convert millions of Euros into AED, they’d result in more AED than when you convert the same numbers of dollars to AED. The lowest exchange rate resulted in 2019, where Euro went down to 0.23.
• Sri Lankan Rupee
Next, we have Sri Lankan Rupee. The exchange rate of LKR to AED is 0.02. The Sri Lankan Rupee is almost half the value of the AED. It is comparatively lower than the dollars to AED rate. More than that, you will find that the lowest ratio, in terms of AED 1 to LKR, has been 47.4.
• Indian Rupee
Next, we have the Indian Rupee. The exchange rate of INR to AED is 0.05. It is also comparatively much lower than the dollars to AED ratio. Convert millions of rupees into AED, and you will a lower number of AED in return, based on the exchange rate. The lowest AED to INR ratio was 18.6.
• Pakistani Rupee
Next, we have the Pakistani Rupee. You will find that the PKR to AED ratio is 0.02. It is similar to the Sri Lankan exchange rate, and it is pretty low compared to the dollars to AED. You will find that the lowest ratio for the two currencies in terms of AED 1 was 37.7. So, if you’re planning to convert millions of Pakistani Rupees, you should know you’re going to almost half the number of AED in exchange.
• Bangladeshi Taka
Next, we have the Bangladeshi Taka. The exchange rate of BDT to AED stands at 0.04, higher than Pakistan but much lower than the dollars to AED ratio. If you’re planning to move to the UAE, then you might need to convert millions of Bangladeshi Taka for this.
• Moroccan Dirham
Next, we have the Moroccan Dirham. The exchange rate stands at MAD to AED at 0.38, which is also lower than the dollars to AED ratio. Whether you’re planning to invest in UAE or move permanently, you will need to have millions of Moroccan Dirham to ensure you make it in the nation.
• Omani Riyal
Next, we have the Omani Riyal. The exchange rate for OMR to AED stands at 9.55. It is higher than the dollars to AED rate and almost every other rate available. You will find that you will be able to get more AED in exchange for OMR 1. There hasn’t been a fluctuation in the exchange rate recently.
Let’s look at a couple of commonly asked questions about the UAE Dirham. It will help you understand currency use better.
Is Dirham Used In Dubai?
Yes, Dirham is the official currency in use throughout Dubai. Then entire UAE uses the same money. You might have some exceptions when it comes to accepting other currencies, like the dollar. You can convert your dollars to AED. But, mainly, you will find that Dirham is the prevailing official currency used.
Are US Dollars Acceptable In Dubai?
You will find prominent tourist locations, such as the mall, restaurants, hotels, and stores accept dollars. Not every shop you go to might take them, but these prominent locations will, most definitely.
You will have to keep a check on the dollar notes you have on you. Either convert the dollars to AED or get replacement dollar notes from an exchange rate. You need not worry about this as there are plenty of exchange rate platform options available to exchange your dollars for AED.
Visit our blog
Go to Fermenta Page