UAE dirham
| UAE dirham | |
|---|---|
.jpg) |
|
| Country: |
 United Arab Emirates
|
| Subdivision: | 100 fils |
| ISO 4217 code : | AED |
| Abbreviation: | Dh / Dhs, more rarely DM |
|
Exchange rate : (August 24, 2020) |
1 USD = 3.6725 AED (fixed) 1 EUR = 4.3508 AED 1 CHF = 4.0431 AED |
The UAE Dirham (officially: Dirham of the United Arab Emirates , 1 Dh = 100 Fils ), also called Dirham for short , is the currency of the United Arab Emirates .
The currency abbreviation for the UAE dirham according to ISO 4217 is AED . Other common abbreviations are Dh, Dhs and, more rarely, DM.
The name of the currency ( dirham ) is derived from the Greek drachma.
history
The dirham of the United Arab Emirates was established in 1971 and replaced in the Emirate of Abu Dhabi to there by then circulating Bahraini dinars (1 dinar = 10 dirhams) and in the other Emirates the Qatari Rial in proportion 1: 1. From 1978 the dirham was officially linked to the special drawing rights .
With the US dollar , there has been a fixed, government-set exchange rate of 3.6725 dirhams for 1 US dollar since the late 1980s. This peg to the US dollar has been discussed several times recently, as it is currently leading to a severe undervaluation of the AED. In addition, a significant part of the imports are paid for in euros, which further accelerates the already considerable inflation.
There are currently considerations to replace the dirham with a common currency of the Gulf states .
Coins
Coins are available in denominations of 1 dirham, as well as 5, 10, 25 and 50 fils. 100 fils make one dirham. The 5 and 10 fils coins are copper colored, the 25 and 50 fils and 1 dirham coins are silver. The numbers on the coin are given in Indian numerals , the text of the coin in Arabic . The 1-fils coin is no longer used in payment transactions. The 5 and 10 fils coins hardly play a role in everyday life, all amounts are rounded up or down to the next 25 fils level. In some cases, traders refuse to accept these small nominal values (5 and 10 fils). In individual cases, there is still a risk of confusion with the coins of the previous series, as the old 50 fils coin and the 1 dirham coin in use today have almost the same dimensions.
abuse
In August 2006 it became public knowledge that the 1 dirham coin has the same dimensions and weight as a Philippine 1 peso coin . This means that parking tickets and drinks machines can be printed out and drinks bought from parking ticket and beverage machines for a fraction of the price (1.00 peso is the equivalent of only 0.08 dirhams; as of August 24, 2020).
Banknotes
Banknotes are available in 5, 10, 20, 50, 100, 200, 500 and 1000 dirhams. The front is written in Arabic (with numerals in Indian typography ), the back in English (with numerals in European typography ). The printing of the 200 dirham notes ceased in 1989. New 200 dirham banknotes have been issued since May 27, 2008. These have a different color (yellow-brown instead of green-brown) and are equipped with the latest security features.
Web links
- Central Bank of the United Arab Emirates
- UAE coin catalog with illustrations
- The banknotes of the United Arab Emirates ( German ) ( English )
Individual evidence
- ↑ http://gulfnews.com/nation/Society/10056780.html ( page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice.
- ↑ http://archive.gulfnews.com/articles/08/05/24/10215816.html ( Memento of December 7, 2008 in the Internet Archive )
