Exchange rate AED - Dirham (United Arab Emirates dirham/Emirati dirham)
United Arab Emirates dirham/Emirati dirham - the official currency of the United Arab Emirates. One dirham divides into 100 fils. The origin comes from the Greek word “drachma,” meaning “bunch.”
|AED EUR||0.2429||0.2577||Dirham (United Arab Emirates dirham/Emirati dirham)||1 AED|
Dirham (United Arab Emirates dirham/Emirati dirham) exchange rate - chart
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United Arab Emirates dirham/Emirati dirham
The dirham (AED) is the official monetary unit of the United Arab Emirates. In addition to the official abbreviation AED, it is also unofficially written as DH or Dhs. The dirham is subdivided into 100 fils.
The United Arab Emirates dirham - where is it used?
AED is the official currency applicable only within the United Arab Emirates. If you are travelling to one of the seven emirates, you should check the dirham's exchange rate, for example, by searching on the Internet for AED or AED to EUR. When it comes to currency exchange, it should be done before one leaves. While the US dollar is widely accepted on the spot, the unfavourable AED exchange rate makes the transaction less profitable. In local exchange offices, it is also better to resign from exchanging the AED - the rate may also be less attractive than in Europe, where we can avoid double currency conversion and exchange AED to EUR right away.
The history of the Emirati dirham
Until 1966, all the emirates from today's UAE used the Gulf rupee, which was exchangeable with the Indian rupee at a rate of 1:1. However, India decided to devalue the Gulf rupee, which was explicitly opposed by the emirates by adopting another currency. In most cases, this was the Qatari rial, which was also converted with the Gulf rupee at a ratio of 1:1. The exception was Abu Dhabi, which adopted the Bahraini dinar at a 10:1 rate. Finally, in 1973, all emirates decided to adopt their currency, the United Arab Emirates dinar (AED). The exchange rate for Qatari rials was set at 1:1 and for Bahraini dinars at 1:10. In 1978, the dirham was pegged to the special drawing rights (SDRs), a conventional unit of account created by the International Monetary Fund (the IMF). In practice, the dirham's exchange rate was closely pegged to the US dollar most of the time. Until 1997, one US dollar was equal to 3.6725 AED.
The United Arab Emirates dirham - key information
The United Arab Emirates dirham is divided into 100 fils. In circulation are coins of 1, 5, 10, 25 and 50 fils, as well as 1 dirham. However, due to the low denomination, the first three are used far less frequently. For this reason, most prices are rounded up to 25 fils. Coins on the reverse side show the face value written in Arabic numerals, which differ from European numerals and Arabic inscriptions. On the obverse, depending on the coin, you will find a gazelle, an oil well, or a Dallah, which is a traditional Arabic coffee maker. Banknotes come in a broader range of denominations: 5, 10, 20, 50, 100, 200, 500, and 1000 dirhams. However, not all are commonly used. They feature characteristic architectural sites, flora and fauna, and traditional objects.
AED - exotic associations
The United Arab Emirates, and therefore the dirham, are associated with exoticism, beautiful resorts and modern buildings. Emirates are undoubtedly very popular among tourists, who should familiarize themselves with the AED before departure, but the exchange rate should not cause any problems. It is effortless to get acquainted with the exchange rate, as the currency converter on our page shows the conversion of AED to EUR or other currency whenever you want.