What Currency is Used in Dubai?

The United Arab Emirates is composed of seven countries – Dubai is one of them. As such, the currency used in Dubai is the United Arab Emirates Dirham (AED). It is important to know what currency is used in any country when it comes to traveling, and Dubai is no exception.

The Dirham is a decimal based currency, so it expands in parts of 100 fils rather than a lot of smaller subdivisions. It is easy to use the Dirham to make purchases in Dubai because the currency has coins and bank notes with distinctive designs, and they are being frequently printed to keep its value stable.

The currency appeared in the early 19th century, and it was adopted 10 years later as an official currency. The Dirham was initially pegged to the Pound Sterling, but it is currently pegged to the United States Dollar (USD) at a rate of approximately 3.67 AED for every USD. Although the AED can be used outside of Dubai such as in Oman, Qatar, and the other countries making up the United Arab Emirates, it is more convenient to carry AED with you if you plan on visiting Dubai.

You can easily get Dirham from ATMs or any of the exchange desks which are found throughout the city. Major credit cards and travelers’ checks are accepted in most large store locations. If you need to exchange your foreign currency for Dirham, it can easily be done at a Bureau de Change in airports or anywhere else throughout the city, with fairly good exchange rates.

It is possible to find stores and restaurants that will accept payment in a foreign currency and then note the exchange rate for that day, but it is not recommended as there will be fluctuations in daily exchange rate and you might end up paying a higher price for your purchase.

You should also bear in mind that tax is not included in prices and you might be obliged by law to pay tax depending on what you purchase as a visitor. The current rate of VAT in the UAE is 0%, which is why it can be so attractive to tourists and visitors.

In conclusion, it is important to know what currency is used when traveling to any country, including Dubai. The united Arab Emirates Dirham (AED) is the official currency used throughout the country, and you can easily find exchange desks located all over the city that will help you if you need assistance exchanging foreign currency. The exchange rate for AED is currently pegged with the USD (1 USD to 3.67 AED). You should also bear in mind that tax is not included for purchases and that, depending on what you purchase, you might have to pay it when required by law. For more information about exchange rates and other topics related to this issue, visit Exchange Rates.

What Currency is Used in Dubai? – Your Complete Guide

Dubai, one of the world’s most popular tourist destinations, is the largest city in the United Arab Emirates (UAE). It is a global economic hub, famous for its luxury shopping, ultramodern architecture, and bustling nightlife. When traveling to Dubai, one of the most commonly asked questions is “What currency is used in Dubai?” In this article, we will provide you with a comprehensive guide to the currency used in Dubai and answer some of the most frequently asked questions related to it.

The Official Currency of Dubai

The official currency of Dubai is the Emirati Dirham (AED), which is also commonly known as the UAE Dirham. The UAE Dirham was introduced on May 19, 1973, and replaced the Qatar and Dubai Riyal at par. It is abbreviated as AED and is denoted by the symbol “د.إ”. One dirham is equivalent to 100 fils.

What Coins and Banknotes are used in Dubai?

Coins are available in denominations of 1, 5, 10, 25, and 50 fils, while banknotes come in denominations of 5, 10, 20, 50, 100, 200, 500, and 1,000 dirhams. The banknotes have both Arabic and English text. The coins are made of bronze, with the larger denominations made of cupronickel, while banknotes are made of plastic.

Can You Use U.S. Dollars or Euros in Dubai?

While most merchants in Dubai accept major currencies like the US dollar and the euro, you’re better off using the local currency. If you’re traveling from the US or Europe, the chances are that you’ll be better off changing your money in Dubai than at home. Most hotels and airports provide currency exchange services, and there are numerous foreign exchange offices throughout the city.

Where Can You Exchange Your Currency in Dubai?

As mentioned earlier, most hotels and airports provide currency exchange services, but it’s not always the best idea to exchange money there. To avoid paying high fees, you can also visit the local banks or reputable foreign exchange offices located in shopping malls, souks, and public areas.

Are There ATMs in Dubai?

Yes, there are numerous ATMs in Dubai, which accept most major debit and credit cards. The ATMs can be found at banks, shopping malls, supermarkets, and around tourist attractions. However, before using your ATM card in Dubai, it’s recommended to notify your bank that you’ll be traveling to avoid suspending your card due to suspicious activity.

Are There Fees for Using Credit/Debit Cards in Dubai?

Most hotels, shops, and restaurants in Dubai accept credit/debit card payments. However, some establishments may charge an additional fee for using the card. It’s always recommended to ask first or check the payment details before making the payment.

Can You Bargain with Merchants in Dubai?

Bargaining is a common practice in Dubai’s souks (open-air marketplaces), but it’s not advisable to do so in malls or high-end shops that have fixed prices. While bargaining, it’s important to be friendly and respectful and always negotiate with a smile.

Final Verdict

In conclusion, the currency used in Dubai is the Emirati Dirham (AED), which is abbreviated as AED and is denoted by the symbol “د.إ”. The local currency is widely accepted and is recommended to use where possible to avoid paying high fees for currency exchanges. There are numerous options for exchanging your currency, such as banks, ATMs, and foreign exchange offices. Bargaining is a common practice in Dubai’s souks, but it’s not advisable to do so in malls or high-end shops that have fixed prices.

We hope this guide has answered some of the most commonly asked questions related to the currency used in Dubai. Use this information to make the most of your trip to this vibrant and exciting city.