MONEY MATTERS



Banks
Methods of payment
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The UAE operates a free, open economy and there are no currency regulations in operation. It is extremely easy to change money at banks and exchange houses throughout the country where the best rates are available.


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.

The UAE Exchange Centre
Abu Dhabi
02 6322166 Dubai 04 3537070
Sharjah 06 5625125 Al Ain 03 7654258
Ajman 06 7424666 Fujairah 09 2226665
Ra's al-Khaimah 07 2271066


Thomas Cook Al Rostamani Exchange Company
Abu Dhabi
02 6727717 Dubai 04 2223564
Sharjah 06 5614656 Al Ain 03 7665558
Fujairah 09 2226822


Al Razouki International Exchange
Abu Dhabi
02 6210308 Dubai 04 2615113
Sharjah 06 5624129


Al Fardan Exchange
Abu Dhabi
02 6223222 Dubai 04 3513535
Sharjah 06 5635371 Al Ain 03 7656325
Ruwais 02 8774877


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