United Arab Emirates dirham

1 USD = 3.6725 AED (fix)

1 EUR = 5.0398 AED 1 AED = 0.19842 EUR

1 CHF = 4.1303 AED 1 AED = 0.24211 CHF

The UAE Dirham ( officially: the United Arab Emirates Dirham, 1 Dh = 100 fils ) is the currency of the United Arab Emirates.

The currency code for the UAE Dirham ISO 4217 is AED. Other common abbreviations are words, Dhs and rare DM

The name of the currency ( Dirham ) is derived from the Greek drachma.

History

The dirham UAE was introduced in 1971 and replaced in the Emirate of Abu Dhabi the there by then circulating Bahraini Dinar (1 dinar = 10 dirhams ) and in the other Emirates to Qatar riyal in a 1:1 ratio. From 1978, the dirham was officially linked to the Special Drawing Rights.

With the U.S. dollar has existed since the late 1980s, a solid, state- fixed exchange rate of 3.6725 dirhams for 1 U.S. dollar. This fixed peg to the U.S. dollar has been discussed repeatedly in recent times, as it currently leads to a strong underestimation of the AED. Moreover, a significant proportion of imports in euros is paid, which further accelerates the already considerable inflation.

Are currently being considered to replace the dirham by a common currency of the Gulf States.

Coins are in denominations of 1 dirham, as well as 5, 10, 25 and 50 fils. 100 Fils give a dirham. The 5 - and 10 - fils coins are copper-colored, the 25 - and 50 - Fils and 1 dirham coin are silver. The numbers on the coin are given in Indian figures, the Münztext in Arabic. The 1 fils coin is no longer used in payment transactions. The 5 - and 10 - fils coins play a minor role in everyday life, all amounts to the nearest 25 - Fils - level rounded up or down. Partial sit dealer from the adoption of this small denominations (5 and 10 fils ). There is in each individual case nor likelihood of confusion with the previous series of coins, as the old 50 fils coin and use today 1 dirham coin almost have the same dimensions.

Abuse

In August 2006, it became public knowledge that the 1 dirham coin has the same dimensions and weight of a Philippine 1- peso coin. As a result, from parking meters and drink machines for a fraction of (1 PHP are about 7 Fils) the price parking tickets printed out and buy your drinks.

Bills

Notes are 5, 10, 20, 50, 100, 200, 500 and 1000 Dirham. The front is ( with digits in Indian typography ) labeled in Arabic, the back in English ( with digits in European typography ). The pressure of 200 dirham bills was discontinued in 1989. Since May 27, 2008, new 200 - dirham banknotes are issued. These have provided a different color (yellow- brown instead of green -brown) and are equipped with the latest safety features.

Pictures of the bills

The images shown here, all bills are under the copyright of the National Bank of the United Arab Emirates.