Money

Currency

Legal tender in Dubai is the UAE dirham (AED or Dh). There are 100 fils in a dirham and it’s pegged to the US dollar at 3.67 Dh.

Notes come in denominations of 5, 10, 20, 50, 100, 200, 500 and 1,000 Dh. There are 1 dirham and 50, 25 and 10 fil coins.

Changing Money

There are banks and bureaux de change at the airport and all over the city where foreign currency can be exchanged.

Banks

Numerous international banks have branches in the city (HSBC, Lloyds TSB, Citibank etc.). Banks usually close around midday and are shut on Fridays.

Credit Cards

MasterCard, Visa and American express are accepted at most hotels, restaurants and shops in Dubai.

ATM’s

ATM’s are common in Dubai and found at many hotels, shopping malls and most banks. In December 2006 the Roads and Transport Authority began the construction of five hundred hi-tech bus shelters incorporating ATMs and vending machines.

Tipping

Many hotels and restaurants automatically add a service charge to the bill, although it’s highly unlikely to end up in the pocket of your waiter or maid. The practice has actually been illegal since 2006. If you’ve received good service try and leave them some cash.

Reviews / Comments / Additional Information

Rents in Dubai are generally paid one year in advance. Loans to cover this are a major source of business for banks in Dubai.

Editor

28/12/07 - Egyptian investment bank EFG Hermes believes that the UAE is likely to revalue the dollar-pegged dirham next year due to the weakening US dollar. The company says the move is necessary to cut inflation in the UAE, currently running at just under 10 percent.

Editor

5 of the 6 members of the Gulf Co-operation Council (Saudi Arabia, Kuwait, Bahrain, Qatar and the UAE) are aiming to establish a single currency by 2010. The other member, Oman, has withdrawn.

tim UK

Dubai isn't cheap. I'd say prices were about the same as in the UK, although some things are cheaper e.g. taxis, watches.

Jackie T

In banks there is usually a separate queue for women customers.

Lisa & Tony

The exchange rates at Dubai airport are a lot better than those in the UK though. So if you need a bit of cash for taxis etc after you land, change your money at the airport.

mark fairhurst

Cash in dirhams is your best bet for haggling in the souks.

Farid

The lower denomination coins are quite rare, so sometimes you may not receive the correct change.

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