Dirham
The dirham is the currency of the United Arab Emirates (UAE). It is also used in the emirates of Ajman, Dubai, Fujairah, Ras Al Khaimah, Sharjah, and Umm Al Quwain. The dirham is subdivided into 100 fils.
The dirham is pegged to the US dollar at a rate of AED 3.67 to USD 1. This peg has been in place since 1978.
The dirham is a relatively strong currency. As of July 16, 2023, 1 AED is worth approximately 22.35 Indian rupees.
The dirham is a popular currency for tourists to the UAE. It is also used in some other countries in the region, such as Oman and Qatar.
The dirham:
The dirham is the official currency of the UAE since 1973.
The dirham is named after the Arabic word for “weight” or “balance”.
The dirham is a fiat currency, which means that it is not backed by any physical asset.
The dirham is issued by the Central Bank of the United Arab Emirates.
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