Q:

What is the currency of Dubai?

A:

Quick Answer

The currency that is used in Dubai is the UAE dirham, which is identified with either the Dhs or AED currency symbols. As of 2015, the UAE dirham is available in notes of 5, 10, 20, 50, 100, 200, 500 and 1,000.

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Full Answer

Each UAE dirham is made up of 100 fils, which are represented as silver coins. It is recommended that travelers entering Dubai carry AED notes with values of 100 or less for various transactions throughout the day. Foreign currency can be exchanged in Dubai for AED at banks, certain hotel lobbies or exchange chain shops in souks and malls.

The dirham was first adopted by the United Arab Emirates as its official currency in 1973. For the purposes of international exchange, the Central Bank of the United Arab Emirates has officially pegged the value of the dirham to the U.S. dollar since 1997. Prior to this, the dirham was pegged to the International Monetary Fund's special drawing rights, or SDRs.

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