United Arab Emirates dirham
The United Arab Emirates dirham (/dirhəm/; Arabic: درهم إماراتي, sign: د.إ; code: AED; commonly abbreviated "DH" or "Dhs."), also known as simply the Emirati dirham, is the basic unit of the currency of the United Arab Emirates. The dirham consists of 100 fils (فلس).
| United Arab Emirates dirham | |
|---|---|
| درهم إماراتي (in Arabic) | |
| ISO 4217 Code | AED |
| User(s) |  United Arab Emirates
|
| Inflation | 2.5% |
| Source | The World Factbook, 2011 est. |
| Pegged with | USD[1] 1 USD = 3.6725 AED |
| Subunit | |
| 1⁄100 | Fils (فلس) |
| Symbol | د.إ |
| Coins | |
| Freq. used | 25 fils, 50 fils, 1 dirham |
| Rarely used | 1, 5, 10 fils |
| Banknotes | |
| Freq. used | 5, 10, 50, 100, 500, 1,000 dirhams |
| Rarely used | 20, 200 dirhams |
| Central bank | Central Bank of the UAE |
| Website | www.centralbank.ae |
The dirham is issued by the Central Bank of the United Arab Emirates. Its value is fixed with the US dollar at a rate of 3.6725 dirhams to the dollar. It is believed that the UAE will maintain this dirham-dollar rate.
The UAE dirham was introduced for the first time on May 19, 1973 as an alternative to the Bahraini dinar (issued by Bahrain in 1965 and was used by the Emirate of Abu Dhabi) and for the Qatar and Dubai riyals (issued by the Qatar and Dubai Monetary Council in 1966).
References
change- ↑ "Annual Report 2014" (PDF). Archived from the original (PDF) on 5 April 2016. Retrieved 14 June 2016.
| Preceded by: Qatari and Dubai riyal Location: Trucial States except for Abu Dhabi Reason: formed United Arab Emirates (in 1971) Ratio: at par |
Currency of United Arab Emirates 1973 – |
Succeeded by: Current |
| Preceded by: Bahraini dinar Location: Abu Dhabi Reason: formed United Arab Emirates (in 1971) Ratio: 1 dirham = 0.1 dinar |