How to Exchange your Money in Dubai
By 2015 Dubai is expected to have received more than 15 million tourists annually, which brings currency from many different countries. Dubai being a popular Emirate is well equipped to facilitate any kind of exchange for outside currencies. The local currency in Dubai is the Arab Emirates Dirham with two abbreviated forms, AED or DHS. The Dirham legal tender is available in the following denominations 5, 10, 20, 50, 100, 200, 500 and 1000. The correct term for small change in Dubai is Fils. The Dirham is divided into 100 Fils, and coins include Dhs1, 50 fils, 25 fils 10 fils and 5 fils and the value is written in Arabic only. On the other hand, bills have Arabic and English writing on them so you can easily determine the different denominations.
Tourists arriving from other countries can easily exchange their local home countries currency or travellers cheques for AED at any money exchanger in the country. In this Step by Step how to we will list some of the common locations to exchange your currencies. The United Arab Emirates has great bilateral trade with many countries and carries almost all major currencies especially those of America, United Kingdom, Canada, and the European nations. You can also exchange your currency at banks; however the rates may not be as good as the private money exchangers. For your convenience, almost every single shopping mall or districts has money exchanger outlets. Additionally, credit cards are widely accepted everywhere in Dubai, make a note to notify your bank you will be using your credit card outside of your country as your bank may block access. You can also withdraw funds directly from most ATM machine inside the country. The banking and financial services industry is one of the biggest contributors to the local economy and makes it extremely convenient for you to exchange your currency, travellers cheques, withdraw from ATM’s and spend on your credit cards without any hassle or inconvenience.
Instructions
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1
In order to get the best exchange rate it is always recommended to check one or more places in the area. Some places have better rates than others for specific currencies and although it only fluctuates in very small increments it can still save you money.
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2
The best deals for exchanging your currency can be found at the private money exchangers that are in every shopping mall and busy shopping districts. We are happy to list some of them for you along with their phone numbers so you can call ahead in advance and determine which one has the best rates for your currency when exchanging.
(a). The UAE Exchange Centre Dubai Phone Number: 04 353 7070
(b). Thomas Cook And Al Rostamani Exchange Centre Dubai Phone Number: 4 222 3564
(c). Al Razouki International Exchange Dubai Phone Number: 04 261 5113
(d). Al Fardan Exchange Dubai Phone Number: 04 351 3535
(e). Al Rajhi Exchange Dubai Phone Number: 04 265 3330
(f). Habib Exchange Dubai Phone Number: 04 353 5436
(g). Khalil Exchange Dubai Phone Number: 04 225 3888 -
3
Here are some basic currency exchange rates for different currencies but keep in mind they can vary any time
(a). The US dollar is pegged at a rate of 3.6724 Dirhams to the dollar and usually doesn't fluctuate too much unless there is a big rise or fall in the greenback.
(b). The Canadian dollar rate is currently at 3.559 Dirhams to the dollar and usually fluctuates to 3.6521 Dirhams to the dollar depending on the valuation of the Canadian currency.
(c). The Euro rate is at 4.899 Dirhams to the euro and can fluctuate along with the valuation of the euro in international markets.
(d). The British Pound rate is at 5.712 Dirhams to the pound and can fluctuate according to the valuation of the British pound in international markets.
