Currency:
The official currency of the United Arab Emirates is the UAE Dirham, abbreviated as AED or Dhs. It is commonly denoted by the symbol "د.إ" or "DH". The dirham is further divided into 100 smaller units called fils.
Banknotes and Coins:
Banknotes: The UAE dirham comes in denominations of 5, 10, 20, 50, 100, 200, 500, and 1,000 dirhams. Each note features Arabic text and numerals on one side and English text and numerals on the other.
Coins: Coins are available in denominations of 1, 5, 10, 25, and 50 fils, as well as 1 dirham.
Exchange Rate:
The exchange rate of the UAE dirham (AED) varies and is pegged to the United States Dollar (USD) at a fixed rate. It's advisable to check the current exchange rate before exchanging your currency. Major banks, exchange offices, and hotels offer currency exchange services.
Accepted Currency:
While the official currency is the UAE dirham, major international currencies such as the US Dollar (USD), Euro (EUR), British Pound (GBP), and others are widely accepted in tourist areas, hotels, and large shopping malls. However, it's recommended to carry local currency for small purchases and transactions.
ATMs and Banking:
ATMs (Automated Teller Machines) are widely available throughout the UAE, especially in urban areas and shopping centers. Most ATMs accept international debit and credit cards, including Visa, MasterCard, American Express, and Maestro. However, it's advisable to inform your bank of your travel plans to avoid any issues with card usage abroad.
Banks in the UAE operate from Sunday to Thursday, with Friday and Saturday being the weekend. Banking hours typically range from 8:00 AM to 1:00 PM, although some branches may offer extended hours.
Credit Cards:
Credit cards are widely accepted in the UAE, especially in hotels, restaurants, shopping malls, and major retail outlets. Visa and MasterCard are the most commonly accepted cards, followed by American Express and others. However, it's always a good idea to carry some cash for smaller establishments or in case of any technical issues with card payments.
Tipping:
Tipping is customary in the UAE, although it's not mandatory. In restaurants and cafes, a service charge may be included in the bill, typically ranging from 10% to 15%. If a service charge is not included, a tip of around 10% is appreciated. Tipping hotel staff, taxi drivers, and tour guides is also common, but it's at your discretion.
Safety and Security:
The UAE is generally a safe country with low crime rates. However, it's essential to take standard precautions to safeguard your money and valuables. Avoid carrying large sums of cash and use secure ATMs in well-lit areas. Keep your credit cards and travel documents in a safe place, and be cautious of pickpockets in crowded areas.
By familiarizing yourself with the currency, banking facilities, and payment methods in the UAE, you can ensure a hassle-free and enjoyable travel experience in this fascinating destination. Whether you're exploring the modern metropolis of Dubai, the cultural capital of Abu Dhabi, or the serene desert landscapes, having a good understanding of money matters will enhance your journey in the United Arab Emirates. Safe travels!