Long before our corporate currency exchange brokers were helping our clients with their Emirati Dirham transfers, the Dirham was creating its own rich history.
About the UAE Dirham
Before 1966, all the emirates that would go on to form the UAE used the Gulf Rupee. Nevertheless the UAE Dirham was introduced in 1973, replacing the Qatar Riyal which had circulated in the emirates since 1966.
In 2006, there was a vending machine fraud issue as it was discovered that the Philippine one Peso coin, worth 8 Dirham, was the same size as the one Dirham coin.
The UAE is a member of the Cooperation Council for the Arab States of the Gulf, along with Kuwait, Bahrain, Qatar, Saudi Arabia and Oman. The Council planned to introduce a single currency in 2010, although this has yet to be implemented.
Subunit: Fils – 1/100
Coins: 25 fils, 50 fils, 1 Dirham
Banknotes: 5 Dirham, 10 Dirham, 20 Dirham, 50 Dirham, 100 Dirham, 200 Dirham, 500 Dirham, 1000 Dirham
Need to make or receive Emirati Dirham payments or transfer Emirati Dirham between accounts? Simply register with us and our business currency brokers will help get you started!