The unit of currency in Dubai is
the UAE dirham (Dh.) or the Arab Emirate Dirham (AED) as it
is termed in international markets. The dirham is divided into
units of 100 fils. Currency notes are issued in denominations
of 5,10,20,50,100,200,500 and 1000 dirhams. Coin denominations
are 1, 5, 10, 25 and 50 fils and 1 dirham. However, coins with
a denomination below 25 fils are rarely used. The value of the
dirham has been fixed to the US dollar since 1980 at the rate
of 1 USD to Dh.3.67. |
There are no restrictions on import
and export of both local and foreign currencies. Hotel bills
can be paid in cash, travellers cheques or credit cards. |
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One dirham can be divided
into 100 fils and coins can be obtained in values of Dh1, 50
fils, 25 fils, 10 fils and 5 fils. As is the case with all currencies
exchange rates may vary, but when markets are stable exchange
can be expected at around 7 Dirham to 1GBP British Pound Sterling
and 3.7 Dirham to $1 US Dollar. |
|
As convenient and tempting
as it may be, it is sensible not to exchange money at airports
due to the fact that exchange rates offered at airports are
usually exceptionally poor. Exchange centers, and local and
international banks can be easily located in the city and will
all likely present you with far better rates. |