The United Arab Emirates, popularly known as the UAE, is a confederation of seven emirates, with Abu Dhabi emerging as one of the popular tourist destinations with around 7.2 million international visitors in 2021.
Every tourist's bucket list should include stopping at this picturesque destination with its magnificent skyscrapers and shopping malls.
Also, if you also intend to travel across this country, the most important thing you need to know is what currency is used in the UAE.
The United Arab Emirates Dirham is often represented by the symbols DH or Dhs. This is one of the most stable currencies worldwide.
However, until 1966, the Gulf Rupee had been in circulation, although soon it was devalued against the Indian Rupee.
Nevertheless, many of the states could not accept the devaluation and hence, adopted their currencies.
Finally, in 1973, the Currency Board of the United Arab Emirates issued its national currency: UAE Dirham replacing three major currencies- Bahraini Dinar, Qatar and Dubai Riyal. At present it is represented with the code AED in the forex market.
The dirham is subdivided into 100 fils and is available in denominations of 5,10,20,50,100,200,500, and 1000.
On the other hand, coin denominations of 1, 25 and 50 fils are available. However, in 1973, the government introduced coins of denominations of 1,5, 10, 25, 50 fils and 1 dirham.
The 1, 5 and 10 fils were struck in bronze, whereas higher denominations had been in copper-nickel.
Only the United Arab Emirates uses the UAE Dirham and no other country accepts it readily.
You can buy UAE Dirham from a bank or a bureau de change. However, purchasing UAE Dirham from these sources may come with certain drawbacks, including:
The exchange rates are fixed for the day in the banks. Hence, you may have to pay higher rates while buying from there, although the live exchange rate has fallen beyond the pre-set value.
These currency exchange institutions add extra charges which remain hidden within the exchange rates that they provide.
You have to go through lengthy procedures to exchange your money and also have to visit the institutions physically.
On the contrary, the online currency providers offer better exchange rates compared to traditional institutions since no additional or hidden expenses are associated with them.
One such online currency service provider is The Currency Club.
We offer our clients competitive exchange rates and charge no hidden fees whatsoever. Furthermore, we provide our clients access to live interbank rates, ensuring that they make an informed decision. You don't need to visit us as the entire process of buying travel money is online.
Simply choose the currency, pay online and get your travel money safely delivered to your doorstep.
So, make sure to find an online currency exchange service provider like The Currency Club while buying UAE Dirham, as you would get the best value for money with us.
Numerous artificial islands, such as the Palm Jumeirah Island and the Universe archipelagos, can be found in Dubai, a city well-known for its grandeur and elegance. Moreover, its attractive terrain attracts thousands of tourists each year.
Furthermore, it is well known that Dubai has emerged as one of the most popular shopping destinations on the globe.
It provides a wide range of amenities for visitors, and the most typical expenses for any tourist in this country would be as follows:
Taxi: Public transit in Dubai is less expensive than a taxi journey. However, you must pay around AED 38 if you want to take a taxi.
Meal: On average, you will spend AED 164 per day on meals. However, it may change depending on the meal you are having.
Hotel: UAE offers several types of accommodations. For instance, a hostel for one person costs around AED 499. On the other hand, a double occupancy hotel room costs AED 998 for two people.
Dubai has a vast network of ATMs that you can find in shopping malls, train stations, hotels and many other locations. However, you might be charged an additional fee each time you make a transaction. You can avoid paying such charges by carrying UAE Dirham beforehand.
Summary
Travelling to the UAE will require you to carry a substantial amount of money. However, it is best not to buy from the airport as they tend to charge much higher rates and may have hidden fees associated with them.
It is best to stock UAE Dirham, the legal tender of UAE before you plan to travel to the country.
Now that you know what currency is used in the UAE, buy your travel money with The Currency Club.
With us, you can get the best exchange rates on the UAE Dirham against British Pounds!
We have made every effort to ensure that the information published here is correct and accurate, however you should check and confirm the latest exchange rates with The Currency Club directly prior to making a decision. The information published is general and does not consider your personal objectives, financial situation or particular needs. Full disclaimer available
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