Foreign exchange rates for Dubai

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Foreign exchange rates for Dubai

Foreign exchange rates for Dubai can fluctuate and if you’re looking to change currency you’ll find that different companies offer different rates. To get the best Foreign exchange rates for Dubai it’s a good idea to start looking online.

Buying currency online has become increasingly popular over the past few years as more and more people realise that there are better deals to be found and that it is quick, easy and convenient.

So if you’re planning a trip to Dubai, for work or pleasure, or need to transfer money to Dubai check out Foreign exchange rates for Dubai online before travelling.

Once you’ve found the foreign exchange rates for Dubai that offers you the best deal, you will need to decide whether you wish to take travelers’ cheques or cash. For making  larger purchases and for longer stays, travelers’ cheques may be more convenient. But, for every day usage, buying food and smaller items, having local currency with you can be really useful.

The currency used in Dubai is called the Dirhim. The Dirhim is also used in Abu Dhabi and the United Arab Emirates (UAE), its official name is the UAE Dirham but is often referred to as Dhs or AED.

One  Dirham consists of 100 Fils – the equivalent of ‘pence’. Dirham notes are available in denominations of 5, 10, 20, 50, 100, 200, 500 and 1000. The different value of notes are distinguished by colour. 5 Dirham notes are brown, 10 Dirham notes are green, 20 Dirham notes areturquoise, 50 Dirham notes are dark blue, 100 Dirham notes are red, 200 Dirham notes are green/brown, 500 Dirham notes are purple and 1000 Dirham notes are light brown. The most common notes in circulation are 5, 10 and 50. 1000 Dirham notes are rarely seen as they are not dispensed from many cash machines.  200 and 20 Dirham notes are less prevalent than the others, although the reason for this is unknown.

Coins are broken down to 5, 10, (coppers) 25, 50, Fils and 1 Dirham. Many shops will not carry the smaller Fils change and mark up or down. Often, you will be asked if you have the change to pay for something since it will clear out the till.

 

Since 1980 the Dirham has been fixed to the US dollar at a rate of 3.6724 Dirhams. This means that currency fluctuations are determined by the behavior of the dollar and that foreign exchange rates for Dubai can be affected by the worth of US currency.

If you’re planning a trip to Dubai it is worth noting that credit cards (Visa, Mastercard, Amex and Diners Club) are accepted in the majority of shops, but not necessarily in the street stores.  Also, traveler’s cheques are accepted in less and less places. So it is advisable to carry some cash and to use an online money exchange to check the foreign exchange rates for Dubai, ensuring you get the best deal for your money.

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