History and origin of the dirham
The term “dirham” comes from the Arabic currency “drachma” which was used in the ancient world. However, the modern dirham was introduced in the UAE in 1973, replacing the Gulf rupee. Since then, the currency of Dubai and other emirates has been the dirham.
The dirham exchange rate
The dirham exchange rate varies daily depending on international economic fluctuations. Generally, one euro is worth around 4.30 dirhams , while one US dollar is around 3.67 dirhams. It is strongly recommended to check the exchange rates in force just before leaving in order to have a more precise idea of the value of your currency in relation to the dirham.
The different denominations of banknotes and coins in circulation in Dubai
In Dubai, like any other city in the world, the currency consists of notes and coins . Here we present the main denominations and their particularities.
Dirham notes
Banknotes in the United Arab Emirates are available in seven different denominations:
The color of each note varies depending on its value, with shades of green, blue, red, brown, purple and orange . The banknotes feature depictions of distinctive elements of Emirati culture, such as historic buildings, landscapes or iconic locations.
Dirham coins
The coins circulating in Dubai are also varied, ranging from 25 fils to 1 dirham:
All coins bear the country's national insignia and their face value inscribed in Arabic numerals and Latin letters.
Tips for changing money in Dubai
If you are planning to travel to Dubai , it is essential to know some tips for changing your money into dirhams. Here are the main options:
Dubai Airport
As soon as you arrive at Dubai International Airport , you will find several exchange offices where you can exchange your currency into dirhams. Keep in mind, however, that rates offered at airports are generally less favorable than in the city, so it may be wise to only change a small amount there.
Banks and hotels
Local banks generally offer a better exchange rate than airports, so don't hesitate to visit them to make your transactions. You can also take advantage of currency exchange services available at major hotels, but check rates carefully and take into account any additional fees that may apply.
Independent exchange offices
Many exchange offices located throughout the city also offer their services to tourists . Try to compare the best deals as some offices offer great rates without extra charges. If you need a large amount, negotiating the rate level with them is often possible.
Withdrawals from automatic teller machines (ATM)
In some cases, withdrawing money directly from ATMs can also be a practical and economical solution because the fees are lower, but take into account that your bank may apply additional fees for each withdrawal made abroad.
Know before you go
In summary, if you are planning a trip to Dubai , it is important to take some precautions to exchange your money at the best rate. Don't just rely on airports and look for other options such as independent money changers or ATMs to get the best possible rate. Also always check the exchange rate in effect the day before your departure to know the real value of your currency against the dirham
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