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Currency Information on AED. Currency Information on UAE Dirham - AED - United Arab Emirates dirham - د.إ. The foreign exchange currency code for AED represents the UAE Dirham currency exchange rate.

The dirham subdivides into 100 fils and was introduced to the United Arab Emirates in 1973, replacing the Qatar and Dubai riyal at a ratio of 1:1. In Abu Dhabi, the dirham replaced the Bahraini dinar at a ratio of 0.01 dinar: 1 dirham.

Currency Exchange Rates for UAE Dirham. Coins are available in denominations of 25 and 50 fils, and 1 dirham, where banknotes are in circulation in denominations of 5, 10, 20, 50, 100, 200, 500 and 1,000 dirhams.

History of the United Arab Emirates Dirham

Derived from Drachmae, a Greek work, the name Dirham has been in use since 1973. The currency was launched on May 19, 1973 to replace the Dubai and Qatar riyal, which had been in circulation since 1966 across all emirates but Abu Dhabi. Before the introduction of the riyal in 1966, all the countries of the gulf used the Gulf rupee. 

 

Introduction of coins 

Coins for the United Arab Emirates Dirham were introduced in 1973 and came in different denominations of fils (1, 5, 10, 25, 50). The highest denomination is struck in cupro-nickel while the lowest including 1, 5 and 10 fils are bronze coated. These coins were the same size and their composition was same as that of the Qatar and Dubai dirham. From 1995, the government decided to reduce the size of the 50 and 1 fills coins and they introduced a new 50 fils coin that was curve-equilateral-heptagonal in shape.


Numbers and value on these coins are in the Arabic language. Over the years, there have been massive changes in the value of the currency and today getting the 1 fils coin is not easy. It is also easy to confuse the old 50 fils coin with the new 1 dirham because they are identical in many ways including size and shape. 

 

Banknotes

Apart from making coins, the U.A.E Currency Board also launched notes on May 20, 1973. The notes came in denominations similar to the coins except that they had two more denominations, the 100 and 1000 dirham notes (the 1000 dirham note was introduced on January 3, 1976). In 1982, a new series of the note was printed and this led to the omission of the 1 and 1,000 dirham notes. 

 

In 1983, 500 dirham notes came into the market followed by the introduction of 200 dirham notes in 1989. Again in 2000, the Currency Board introduced the 1000 dirham note and it is from this period that several changes including color and texture were made to the denominations to make them easy to distinguish. Today, the Dirham is to the U.S. dollar.

Convert Pound to United Arab Emirates dirham

Convert GBP to AED exchange rate. Buy and sell British Pounds to United Arab Emirates dirham. Convert AED to GBP with a currency broker offering the best foreign exchange rates. Exchange GBP to AED - Convert Pound to United Arab Emirates dirham for a Free Online Quote.

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