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MONEY MATTERS
Currency and exchange rates
Banks
Methods of payment
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CURRENCY AND EXCHANGE RATES

Currency

The dirham (pronounced dir-ham) is the official currency of the UAE. Dirham notes are in 5, 10, 20, 50, 100, 200, 500, and 1000 denominations. The dirham is divided into 100 fils, coins include Dh1, 50, 25, 10 and 5 fils (10 and 5 fils are rarely used). The value is written in Arabic only but Arabic numerals are easy to memorize (see section on Arabic Language).

Exchange

There are no currency regulations and foreign currency of almost any denomination is readily exchanged in the UAE. The dirham is index linked to the dollar and the official exchange rate is Dh3.671 = US$ 1.00. The best exchange rates are generally available at private moneychangers found throughout the UAE, but especially in the more popular souqs and shopping centres.

The UAE Exchange Centre (associated with Western Union) has branches throughout the UAE. Thomas Cook Al Rostamani (authorized representative of Thomas Cook’s financial division) and Al Razouki International Exchange Company are also well represented.

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