Symbol for UAE Dirham Explained

The United Arab Emirates Dirham, or AED for short, is the official currency of the UAE. It's divided into 100 fils.

The symbol for the UAE Dirham is "AED". You'll see it on currency notes, coins, and even on price tags in stores.

The UAE Dirham is the official currency of the United Arab Emirates. It's pegged to the US dollar at a fixed rate of 1 USD to 3.6725 AED since 1997.

This means that the value of the dirham remains stable compared to other currencies. It's considered one of the world's most stable currencies in terms of exchange rate stability.

The UAE Dirham is used extensively throughout the country, and you'll find it in circulation in banks, shops, and even on the streets.

The United Arab Emirates had a gross domestic product of about $421 billion in 2019, ranking 25th on the World Economic Forum's Global Competitiveness Index.

Its GDP rose to $514 billion in 2023, according to Statista, with a GDP per capita of $52,976.80 in 2023, according to The World Bank.

The UAE dirham is considered one of the world's most stable currencies in terms of exchange rate stability, pegged to the United States dollar since 1997 at a rate of 1 U.S dollar to 3.6725 AED.

This stability is a result of the country's steady progress toward diversification, with the exception of Dubai, which relies heavily on oil exports and natural gas reserves.

The UAE's currency, the dirham, has a rich history that spans centuries. The name dirham is a loan from the Greek δραχμή (drakhmé).

Before 1966, the Gulf rupee was the currency used by all the emirates that now form the UAE. It was pegged at parity to the Indian rupee.

The Gulf rupee was devalued by India on June 6, 1966, but several emirates refused to accept this change. Abu Dhabi, however, adopted the Bahraini dinar at a rate of 10 Gulf rupees to 1 dinar.

The Qatar and Dubai riyal was adopted by several emirates, including Abu Dhabi's neighbors, at the same value as the Gulf rupee.

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The United Arab Emirates (UAE) has a strong economy, with a gross domestic product (GDP) of over $421 billion in 2019.

Its GDP rose to $514 billion in 2023, making it one of the top economies in the world. The UAE's GDP per capita was $52,976.80 in 2023, indicating a high standard of living.

The country relies heavily on oil exports and natural gas reserves, although it's been making progress towards diversification. With the exception of Dubai, the emirates are still largely dependent on these resources.

The UAE dirham is considered one of the world's most stable currencies, thanks to its peg to the US dollar since 1997. The exchange rate is fixed at 1 US dollar to 3.6725 AED.

Since 1997, the dirham has been pegged to the US dollar at a rate of 1 dollar to 3.6725 dirhams. This stability has made it a popular choice for investors.

The dirham was officially pegged to the International Monetary Fund's Special Drawing Rights in 1978, but in practice, it's commonly pegged to the US dollar.

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The UAE dirham is a widely used currency in the United Arab Emirates, with coins introduced in 1973 in denominations of 1, 5, 10, 25, and 50 fils and 1 dirham.

The coins are made of different materials, with the 1, 5, and 10 fils coins struck in bronze, while the higher denominations are made of cupro-nickel. The 1 fils coin is a rarity and does not circulate significantly.

The value and numbers on the coins are written in Eastern Arabic numerals and the text is in Arabic. The 1, 5, and 10 fils coins are rarely used in everyday life, so all amounts are rounded up or down to the nearest multiples of 25 fils.

Here are the technical parameters of the UAE dirham coins:

The UAE dirham coins come in various denominations, from 1 to 50 fils and 1 dirham. The 1, 5, and 10 fils coins are made of bronze, while the higher denominations are made of cupro-nickel.

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The 1 fils coin is quite rare and doesn't circulate much, so you'll rarely see it in everyday life. The 1 fils coin is the smallest denomination and weighs only 1.5 grams.

The value and numbers on the coins are written in Eastern Arabic numerals and the text is in Arabic. This can sometimes cause confusion, especially when making change.

The 50 fils coin was redesigned in 1995 to be curve-equilateral-heptagonal shaped, making it slightly different from the other coins. This change was made to reduce the size of the coin.

Here's a list of the different denominations of UAE dirham coins:

The coins have different shapes and edges, with the 50 fils coin being the only heptagonal one. The 1 dirham coin is the largest denomination and weighs 6.1 grams.

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The Dirham is the official currency of the United Arab Emirates. It's divided into 100 fils.

The Dirham has undergone several changes over the years, with new banknotes and coins being introduced. In 1973, the Currency Board issued banknotes in denominations of 1, 5, 10, 50, 100, and 1000 dirhams.

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The current banknotes found in circulation are denominated in 5, 10, 20, 50, 100, 200, 500, and 1000 dirham. The obverse text is written in Arabic with numbers in Eastern Arabic numerals, while the reverse text is in English with Arabic numerals.

Coins were introduced in 1973, with denominations of 1, 5, 10, 25, and 50 fils and 1 dirham. The 1, 5, and 10 fils are struck in bronze, with the higher denominations in cupro-nickel.

Here's a list of the current coins in circulation:

It's worth noting that the 1 fils coin is a rarity and does not circulate significantly, and the 1, 5, and 10 fils coins are rarely used in everyday life.