Currency in the United Arab Emirates: What Money is Used?
September 12, 2023 by JoyAnswer.org, Category : Finance
What money do they use in United Arab Emirates? Explore the currency used in the United Arab Emirates (UAE) and gain insights into exchange rates and denominations of UAE dirhams.
What money do they use in United Arab Emirates?
The official currency used in the United Arab Emirates (UAE) is the United Arab Emirates dirham, abbreviated as AED or sometimes referred to as DHS. The dirham is further subdivided into 100 smaller units called fils.
Banknotes and coins are issued in various denominations:
Banknotes:
- 5 dirhams
- 10 dirhams
- 20 dirhams
- 50 dirhams
- 100 dirhams
- 200 dirhams
- 500 dirhams
- 1,000 dirhams
Coins:
- 1 dirham
- 50 fils (half-dirham)
- 25 fils
- 10 fils
- 5 fils
- 1 fils (rarely used)
The United Arab Emirates dirham is widely accepted for all types of transactions within the country. Major credit and debit cards are also commonly used for purchases, and ATMs are readily available for cash withdrawals. Additionally, the US dollar is widely accepted in many tourist areas, especially for larger purchases, but it's advisable to use dirhams for everyday transactions to avoid unfavorable exchange rates.
