Money

Currency

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

There are 100 fils in a dirham.

Notes come in denominations of 5, 10, 20, 50, 100, 200, 500 and 1,000 dirhams. The writing on the front of the note is in Arabic while that on the reverse is English.

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

UAE Dirham Exchange Rate

The dirham to dollar exchange rate is fixed at a rate of 3.6725 dirhams to US $1 (or 1 dirham equals 0.272 US dollars). Most world currencies are not pegged to the dollar and so their exchange rate with the dirham fluctuates daily.

Middle Eastern Countries

Dubai is a popular destination for visitors from the Middle East. The city attracts around one million visitors each year from Saudi Arabia alone. Exchange rates for the dirham (AED) with currencies such as the Saudi riyal (SAR), Omani rial (OMR), and Kuwaiti dinar (KWD) are shown below. Rates were last updated on Wednesday 22nd of January 2020 at 11:32 pm GMT.

• Bahrain – 1 Bahraini dinar (BHD) = 9.74 AED
• Egypt – 1 Egyptian pound (EGP) = 0.23 AED
• Iraq – 1 Iraqi dinar (IQD) = 0.0031 AED
• Jordan – 1 Jordanian dinar (JOD) = 5.181 AED
• Kuwait – 1 Kuwaiti dinar (KWD) = 12.092 AED
• Lebanon – 1 Lebanese pound (LBP) = 0.0024 AED
• Oman – 1 Omani rial (OMR) = 9.54 AED
• Qatar – 1 Qatari riyal (QAR) = 1.01 AED
• Saudi Arabia – 1 Saudi riyal (SAR) = 0.98 AED
• Syria – 1 Syrian pound (SYP) = 0.007 AED
• Turkey – 1 Turkish lira (TRY) = 0.62 AED

African Countries

Each year the city attracts approximately 100,000 tourists from South Africa. Visitor numbers from other African countries are fairly low. Current exchange rates between the dirham (AED) and African currencies such as the South African rand (ZAR) are listed below. They were last updated on Wednesday 22nd of January 2020 at 11:32 pm GMT.

• Kenya – 1 Kenyan shilling (KES) = 0.036 AED
• Morocco – 1 Moroccan dirham (MAD) = 0.38 AED
• Nigeria – 1 Nigerian naira (NGN) = 0.01 AED
• Tanzania – 1 Tanzanian shilling (TZS) = 0.0016 AED
• South Africa – 1 South African rand (ZAR) = 0.26 AED
• Sudan – 1 Sudanese pound (SDG) = 0.081 AED

Asian Countries

Asians comprise around a quarter of Dubai’s tourists, most of which are Chinese nationals. Much of the city’s expatriate population is Asian. Large numbers of Afghans, Bangladeshis, Chinese, Filipinos, Indians, Indonesians, Pakistanis, and Sri Lankans live and work in the city.

Current exchange rates (updated Wednesday 22nd of January 2020 at 11:32 pm GMT) between the dirham (AED) and Asian currencies such as the Indian rupee (INR), Chinese yuan (CNY), Philipine peso (PHP), and Indonesian rupiah (IDR) are listed below.

• Afghanistan – 1 Afghan afghani (AFN) = 0.048 AED
• Bangladesh – 1 Bangladeshi taka (BDT) = 0.043 AED
• China – 1 Chinese yuan (CNY) = 0.53 AED
• Hong Kong – 1 Hong Kong dollar (HKD) = 0.47 AED
• India – 1 Indian rupee (INR) = 0.052 AED
• Indonesia – 1 Indonesian rupiah (IDR) = 0.00027 AED
• Japan – 1 Japanese yen (JPY) = 0.033 AED
• Malaysia – 1 Malaysian ringgit (MYR) = 0.904 AED
• Nepal – 1 Nepalese rupee (NPR) = 0.032 AED
• Pakistan – 1 Pakistani rupee (PKR) = 0.024 AED
• Philippines – 1 Philippine peso (PHP) = 0.072 AED
• Singapore – 1 Singapore dollar (SGD) = 2.72 AED
• South Korea – 1 South Korean won (KRW) = 0.0032 AED
• Sri Lanka – 1 Sri Lankan rupee (LKR) = 0.02 AED
• Thailand – 1 Thai baht (THB) = 0.12 AED
• Vietnam – 1 Vietnamese dong (VND) = 0.00016 AED

Australasia/Pacific

Approximately 200,000 Australians and 30,000 New Zealanders visit Dubai each year. Rates between the dirham (AED) and Australian dollar (AUD) and New Zealand dollar (NZD) are shown below. They were last updated on Wednesday 22nd of January 2020 at 11:32 pm GMT.

• Australia – 1 Australian dollar (AUD) = 2.51 AED
• New Zealand – 1 New Zealand dollar (NZD) = 2.42 AED

European Countries

Europeans account for around 20 percent of Dubai’s tourists. The largest group are the British, but there are also significant numbers from France, Germany, Italy, and the Netherlands. Dubai also has a large British expatriate community. Current exchange rates between the dirham (AED) and European currencies such as the euro (EUR) and sterling (GBP) are listed below. Rates were updated on Wednesday 22nd of January 2020 at 11:32 pm GMT.

• Denmark – 1 Danish krone (DKK) = 0.545 AED
• Eurozone – 1 euro (EUR) = 4.075 AED
• Norway – 1 Norwegian krone (NOK) = 0.409 AED
• Sweden – 1 Swedish krona (SEK) = 0.386 AED
• Switzerland – 1 Swiss franc (CHF) = 3.79 AED
• UK – 1 British pound sterling (GBP) = 4.83 AED

Russia/CIS Countries

Dubai is a popular destination for Russian tourists. Large numbers also visit from countries such as Kazakhstan, Ukraine, and Azerbaijan. Dubai also has a sizeable Russian-speaking expatriate community. Exchange rates between the dirham (AED) and Russian/CIS currencies are listed below. They are live rates (updated Wednesday 22nd of January 2020 at 11:32 pm GMT).

• Azerbaijan – 1 Azerbaijani manat (AZN) = 2.157 AED
• Kazakhstan – 1 Kazakhstani tenge (KZT) = 0.01 AED
• Russia – 1 Russian ruble (RUB) = 0.059 AED
• Ukraine – 1 Ukrainian hryvnia (UAH) = 0.151 AED
• Uzbekistan – 1 Uzbekistani som (UZS) = 0.0004 AED

North American Countries

Around ½ million US citizens and 100,000 Canadians visit Dubai each year. Live exchange rates (updated Wednesday 22nd of January 2020 at 11:32 pm GMT) between the dirham (AED) and US dollar (USD) and Canadian dollar (CAD) are shown below. As noted above the USD/AED rate is fixed.

• Canada – 1 Canadian dollar (CAD) = 2.8 AED
• Mexico – 1 Mexican peso (MXN) = 0.196 AED
• USA – 1 US dollar (USD) = 3.67 AED

South American Countries

• Argentina – 1 Argentine peso (ARS) = 0.061 AED
• Brazil – 1 Brazilian real (BRL) = 0.878 AED
• Columbia – 1 Colombian peso (COP) = 0.0011 AED

Changing Money

There are a multitude of banks and money exchanges in Dubai where currency can be exchanged. They are located all over the city but if you are a tourist it is probably easiest to find one by heading to the nearest shopping mall. Most will have at least one bank and a couple of money exchanges.

Due to the city’s diverse population and mix of tourists, the banks and exchanges in Dubai typically hold more currencies than those in Europe and the US. You’ll have no difficulty exchanging any major currency.

Money exchanges typically offer better rates than the banks. Airport rates are less competitive than those in the city. Exchange rates at hotel currency exchanges are generally poor. Savvy travellers will just change a small amount at the airport to cover tips and taxi fares and exchange the rest of their cash at one of the money exchanges in the city.

The exchange centres have longer opening hours than banks. They usually open around 8 or 9 am and close late in the evening. Most also offer a range of additional services including cash advances against credit cards, money transfers, pre-paid credit cards, bill payments, and mobile phone top-ups.

Exchanges in Dubai include:

• Al Ansari Exchange – over 50 locations in Dubai including branches at Al Khaleej Centre, BurJuman, Century Mall, City Centre Al Shindagha, City Centre Deira, City Centre Mirdif, Dragon Mart, Dubai Festival City, Dubai International Airport, Dubai Mall, Dubai Outlet Mall, Gold and Diamond Park, Ibn Battuta Mall, Madina Mall, Oasis Centre, Souk Madinat Jumeirah, and Wafi Mall.
• Al Ghurair Exchange – branches include BurJuman, City Centre Deira, and Mall of Emirates.
• Al Rostamani International Exchange – branches include Dubai International Airport, Ibn Battuta Mall, the Mall of the Emirates, Al Khaleej Centre, City Centre Deira, and Dubai Mall.
• Al Fardan Exchange – locations include the Festival Centre, Dubai Mall, and the Mall of the Emirates.
• UAE Exchange – branches include City Centre Deira, Dragon Mart, Mall of the Emirates, Mercato, and City Centre Al Shindagha.

Banks

Dubai is a major financial centre and boasts a good number of both local and international banks.

Foreign banks with a significant presence in Dubai include Barclays, Citibank, HSBC, and Standard Chartered.

Locally based banks include Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank (ADIB), Dubai Islamic Bank, Emirates NBD, Mashreq, National Bank of Abu Dhabi, RAKBANK (National Bank of Ras Al Khaimah), and Union National Bank.

Hours vary by bank but most are typically Saturday to Thursday from around 8 am to 1 or 2 pm. Banks close on Fridays. Branches at the shopping malls open later and usually close around 9 pm.

Credit Cards

MasterCard, Visa and American Express are accepted at nearly all hotels, restaurants and shops in Dubai.

ATMs

There are thousands of ATMs in Dubai. You’ll find them at shopping malls, Metro stations, most hotels, supermarkets, and many other public places.