If you visit Dubai or have recently moved, it must at least you know the fundamentals of the currency used in Dubai. I am satisfied with Dubai currency. I have many a dirham coin saved and not less than one bill each denomination. I find those exotic looks and coins have a historic feel to them.
Catch a dirham silver coins and just know its edges. They would not be straight. Exploring Crest and writings and it seems that each coin is designed. Printed on the coin looks as if it were handmade.
Enough of sentimental talk. Dubai share the same currency used in the rest of the country (as you'd expect), the Arab Emirate dirham or AED. It's called dirham for card and you will see the abbreviated as either Dhs. or Dh.
Has long been linked to dirham (since 1980 I believe) that the US dollar at DH 3.65 per $ 1. It is divided into 100 fils (cents). Notes come in denominations of 5,10,20.50, 100 and 1000,200,500 Dirhams. Coins come in one, five, ten, twenty-five and fifty fils and the dirham.
It is very rare to get coins with a denomination below 25 fils and so they are usually not used. Indeed, it is usually not the exact change in markets, if you use cash to the shop. Be cautious.
Personally I recommend using credit cards whenever possible. If your credit card will work in Dubai (most U.S. issued cards do), use it. MasterCard, visa and American Express are accepted in most places in Dubai.
Be careful when you discover but. For some reason this card are rarely accepted anywhere outside the United States, at least in my experience. I've tried to Discover both in India and Dubai, and it did not work. It works alongside in Canada but lol.
Anyway, you can convert your Dubai currency into the other foreign currencies willing. You can make Exchange at banks and exchange houses everywhere in Dubai. Simply visit any mall and you will find an inside.
I propose exchange your currency at the airport. Unlike most other countries is Dubai Airport is actually a good place to cash in your dollars or something else for Dirhams. You can find usually better exchange rates compared to other airports.
It is usually smart to get 100 dirhams before leaving the airport for cabs, tips, etc. Speaking tips, most hotels and restaurants would automatically add tips to your invoice. I used to think this was smart of the waiter.
But these tips actually don't go to the poor but rather to a restaurant waiter! I usually leave some extra cash on the table after pay my invoice with my credit card so that the waiter or hotel maid would receive its share of the compensation.
There are plenty of banks across Dubai. In fact, there is a dedicated street banks called Bank Street. Guess what, you'll notice it? lol a bunch of banks are lined up all together.
You can probably find your bank on the streets of most multinational banks have locations across Dubai now. They are closed around lunch time for a few hours and Friday is the weekly religious holiday in Dubai.
And if you need cash when the Bank terminated, you could hit the ATMs located anywhere in Dubai. For each bank is probably 54,562 ATMs. It was an exaggeration, but they are everywhere, as it feels as if it is true!
You will be able to find ATMs in shopping centres, hotels, banks and in newer bus stand. I recommend always entails some cash on you, especially if you want to buy at the local markets in Dubai (souks). If you have received money on, probably gives you the most effective arrangements that you negotiate within the market.
Return to Dubai currency, regulates the International Monetary Fund's special drawing right Dubai's currency. Its role is to manage the valuation of dirham in the global market (even if it is really based on how the US dollar behave relative to other global currencies).
Brings up an interesting story. When I was in Dubai in December 2007, there was much speculation that the dirham will be revalued for the first time in 20 plus years.
This is due to the fact that local investors complained their portfolios were injured due to the devaluation of the US dollar. Due to speculation that many exchange houses the typical Dh 3.65 per dollar conversion and many people lost money exchanging currency during that time.
Lucky for me I have been able to buy Dirhams for cheap and there is an exchange houses where I sold them more than what I paid for them! This is when I wish I had my entire bank account in Dubai!
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