Saturday, June 2, 2012

Dubai Currency

Dubai shares the same currency that is used in the rest of the country, the Arab Emirate Dirham or AED. It is called Dirham for short and you will see it abbreviated as either Dhs. or Dh.

The dirham has been long pegged (since 1980) to the US Dollar at Dh. 3.65 per $1. It is divided into 100 fils (the equivalent of cents). The notes come in denominations of 5, 10, 20, 50, 100, 200, 500 and 1000 Dirhams. The coins come in 1, 5, 10, 25 and 50 fils and 1 dirham.

It is very rare to find coins with a denomination below 25 fils and so they are not as commonly used. It's common not to receive the correct change in markets if you are using cash to shop. Be careful.

Use credit cards whenever possible. If your credit card works in Dubai (most US issued cards do), use it. MasterCard, Visa and American express are accepted in most places in Dubai.

You can convert your Dubai currency to any other foreign currencies freely. You can do the exchanges at banks and exchange houses which are everywhere in Dubai. Just go to any mall and you will find one inside.

Unlike most other countries, the Dubai airport is actually a good place to cash in your dollars or anything else for Dirhams. You will usually find better exchange rates compared to other airports.

It’s usually smart to get Dh. 100 prior to leaving the airport for cabs, tips, etc. Speaking of tips, most hotels and restaurants will automatically add the tip change to your bill. I used to think this was smart on the waiter’s part. But these tips actually don’t go to the poor waiter but rather to the restaurant owner! So think about leaving some extra cash on the table after paying the bill with a credit card so that the waiter or hotel maid can get their share of gratuity.

$1 USD = Dhs. 3.65

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