Moving to a foreign land is an adventure that is extremely difficult and at the same time very frightening. The main factor is not knowing the country is culture, climate, rules, laws, language, and currency in UAE, more specifically Dubai and Abu Dhabi, are the best places for shopping. The such metropolis contains the biggest shopping malls with the leading brands.
Moreover, the United Arab Emirates has gold souks filled with stunning and high-quality jewelry. The exquisite jewelry in the souks is irrefutable. Moreover, the UAE is the best country in the Middle East for adventure sports. The majority of the tourists coming to the UAE cannot help but shop.
In case you are looking to simplify shopping experiences and eliminate spontaneous desires, then the first things you should do are to get an insight into the currency of the country and to have a travel budget. By doing so, you will not only avoid the trouble but also use your money in the best manner.
It is always a good idea to familiarize yourself with the currency beforehand when going to the UAE. The article of today will provide you with the necessary details regarding the currency of the UAE. Keep reading.
The Basics of UAE Currency
The United Arab Emirates stands among the richest nations globally. The official currency of the UAE, the Dirham, consists of 100 fils. The dirham is available in numerous denominations—5, 10, 20, 50, 100, 500, and even 1,000.
Coins in the denominations of 1, 25, and 50 fils can also be used. Take note that the coins with less than ten value are seldom used by people. Furthermore, the banknotes are controlled and issued by the UAE’s central bank.
The bank has implemented various types of watermarks to avoid any sort of counterfeiting. One of the security features of the currency is the national emblem which is printed on the note. The United Arab Emirates applies very severe procedures, laws, and regulations. For instance, it is prohibited to insult the national emblem. If one does so, the culprit will be punished for the crime of counterfeiting and imprisoned.
Just keep in mind that the symbol depicted on the banknotes is a golden falcon. In addition, each denomination has a disk with seven stars around it at the center. Also, there are seven feathers. All of the feathers symbolize the particular emirate of the UAE. Now, let us move to the topic of currency exchange in the UAE.
How to Exchange Currency in UAE?
Currency exchange in the UAE is an easy process, but one should consider several factors associated with it. Learning about the market rate in advance is very important because you are going to visit the UAE. The mid-market rate is the true exchange rate, which signifies no surcharges.
Before heading to the UAE, you can rely on various online currency converters. This will help you to know the worth of your money and also let you pick a fair rate while working with your travel money. When you are in the UAE and want to cash out, select dirham as your option.
If not, significant conversion rate charges will be applied to your transactions. For instance, you will incur higher charges if you take cash from the ATM in the currency of your country. Accordingly, using local currency is the best option. In this case, the dirham is the most suitable currency for you if you are using ATMs in Dubai, Abu Dhabi, or anywhere else in the UAE.
Besides, professional opinion is not to change money in hotels and airports. Keep in mind that hotel and airport currency exchange rates have high margins. In addition, you might have to pay hidden charges. Thus, it would be best to not exchange money at these locations and go for a trustworthy alternative.
Moreover, it is advisable to always use a debit card for transactions in the UAE. This will help you to stay away from extra charges and concealed expenses. Despite the fact that both credit and debit cards are accepted in the UAE, there are still some hotels and restaurants that will only accept cash transactions. Thus, along with debit cards, it is better to keep a few hundred dirhams in cash always.
Final Words
In case you are going to the UAE pretty soon, then you should definitely make a detailed plan, including your budget, to simplify the whole process. Even though the U.S dollar is accepted almost everywhere in the UAE, it is better to change your money into dirham. You can thus move around and save money at the same time. Use the advice provided in this article to gain the best exchange rates as well as not getting into trouble.
FAQ
1. What currency is used in the UAE?
The official currency used in the UAE is the United Arab Emirates Dirham, commonly written as AED or Dhs.
2. Can tourists use US Dollars, Euros, or Pounds in the UAE?
Most shops and restaurants prefer AED, but some tourist-heavy places may accept foreign currencies. However, the exchange rate is usually less favorable, so using AED is recommended.
3. Is it better to exchange money in my home country or in the UAE?
Exchanging money in the UAE often gives better rates. Airports, malls, and local exchange centers all offer competitive rates.
4. Can I use my international debit or credit card in the UAE?
Yes, all major cards like Visa, Mastercard, and American Express are widely accepted in hotels, malls, taxis, and most shops.
5. Are ATMs easily available in Dubai and Abu Dhabi?
ATMs are everywhere malls, metro stations, hotels, and supermarkets—making cash withdrawals extremely convenient for tourists.