Money

Currency

The name of the currency in Dubai and the United Arab Emirates is the dirham (AED or Arab Emirate Dirham – also abbreviated to DH or Dhs). There are 100 fils in a dirham.

Notes come in denominations of 5, 10, 20, 50, 100, 200, 500 and 1,000 Dhs. The value of the note is indicated on one side in Arabic and the other in English.

There are 1 dirham and 50, 25 and 10 fil coins in common circulation.

UAE Dirham Exchange Rate

The dirham dollar exchange rate is fixed at a rate of 3.67 AED to 1 USD (or 1 dirham equals 0.272 US dollars). Currencies such as the euro, pound, and rupee are not fixed to the dollar and hence their exchange rate with the dirham fluctuates from day to day.

Current exchange rates for the dirham with popular currencies are:

  • 1 US dollar (USD) =dirham (AED)
  • 1 Indian rupee (INR) =dirham (AED)
  • 1 Euro (EUR) =dirham (AED)
  • 1 British pound (GBP) =dirham (AED)
  • 1 Moroccan dirham (MAD) =dirham (AED)
  • 1 Bahraini dinar (BHD) =dirham (AED)
  • 1 Kuwaiti dinar (KWD) =dirham (AED)
  • 1 Omani rial (OMR) =dirham (AED)
  • 1 Egyptian pound (EGP) =dirham (AED)
  • 1 Pakistan rupee (PKR) =dirham (AED)
  • 1 Australian dollar (AUD) =dirham (AED)
  • 1 Russian rouble (RUB) =dirham (AED)
  • 1 Canadian dollar (CAD) =dirham (AED)
Note: These are live exchange rates.

Changing Money

There are banks and money exchanges and all over the city where foreign currency can be exchanged. Common locations include shopping malls and supermarkets. Money exchanges usually offer better rates than banks.

Banks

There are numerous international and local banks operating in the city.

Foreign banks in Dubai include Lloyds TSB, Barclays, Citibank, Standard Chartered, and HSBC.

Local banking operations include RAKBANK (National Bank of Ras Al-Khaimah), First Gulf Bank, Emirates Islamic Bank, ADCB (Abu Dhabi Commercial Bank). Dubai Islamic Bank (DIB), Emirates NDB, Marshreq Bank, and Noor Islamic Bank,

Traditional banking hours are Saturday to Wednesday 8 am to 1 pm and Thursday 8 am to midday, but most close later nowadays. Banks at shopping malls have extended opening times. Banks are closed on Fridays.

Credit Cards

MasterCard, Visa and American Express are accepted at most hotels, restaurants and shops in Dubai.
ATM’s

There are thousands of ATMs in Dubai. Common locations include hotels, Metro stations, shopping malls, petrol stations, and supermarkets.

Currency data from Coinmill

Comments and Additional Information

  1. Jo says

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

  2. tim UK says

    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.

  3. Jackie T says

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

  4. Lisa & Tony says

    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.

  5. mark fairhurst says

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

  6. Farid says

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

Add Comment or Additional Information

Your email address will not be published. Required fields are marked *