The United Arab Emirates is the name of a group of seven sovereign sheikdoms on the Gulf. The major source of their income used to be piracy. Today, it is oil for Abu Dhabi and tourism or manufactured products for the other emirates. The initials for the currency are AED. The currency, the dirham, subdivides into 100 fils.
History
The earliest coinage circulating in the region came from imitations of the Alexander coins in the 3rd and 2nd centuries B.C. It was not, however, a country where currency flourished until the 19th century. At this point, the British decided to curtail the sheikdoms preying on the shipping trades in the Gulf. They called the region the Pirate Coast. Under British influence, Abu Dhabi, Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah and Umm al-Qaiwann created a loose confederation of states. This was the Trucial States.
In 1892, the conglomeration became a formalized British protectorate. Yet, with little trading, there was no actual demand or use for currency. All coins came from elsewhere. The usual coins were Iranian, Indian and Austrian. This state continued until the 1970s. In 1971, the region became independent of Britain. It became the United Arab Emirates that year. In 1973, the British Royal Mint struck a formal coinage. During that period, the system consisted of fils, dirhams and dinar. In it, 1000 fils equal 10 dirhems equal 1 dinar. Except for security issues over the years, the coinage remains the same. You can obtain coins in denominations of 1, 5, 10, 25 and 50 fils and 1 dirham. Banknotes come in 5, 10, 20, 50, 100, 200, 500 and 1,000 dirhams.
Obtaining United Arab Emirates Dirhams
You can exchange your currency at banks. You can also make the change at hotels. ATMS are also popular ways to obtain local currency. It will depend upon which country of the UAE you visit. In Dubai, they are on major streets, in shooping malls and in some hotels and banks. Check with your bank for locations.
Protecting Your Currency
Crime is very low in this country. Nevertheless, do exercise caution and keep your valuables safe.
Using Your United Arab Emirates Dirhams
Dirhams can be very useful if you decide to eschew modern shopping malls for souqs or street vendors. Not only can the local currency help you pay for a ride, but you can also use it to bargain for those souvenirs and gifts you want. Remember the country with the purchase of a Persian carpet or an Arab coffee pot. Head for the Gold Souk to make a purchase in old or new gold. You can decide on a hookah pipe, prayer beads or miniature dhows. Traditional dress and modern fashion, you can shop for it all in the United Arab Emirates.
Travel Tips and Warnings
- Carrying or using drugs can result in the death penalty.
- Islam is the major religion in the UAE. Respect it. How strict it is depends upon the country within the county you visit.
- Visit Dubai for its museum and souqs, particularly the Gold Souq.
- Stop over at an oasis such as the Al-ain or Buraimi Oasis..
- At Abu Dhabi visit al-Hosn Palace.
- Hatta is a Heritage Village, a recreated typical mountain village.
- Why not go to the Liwa Oasis. It sits on the edge of the Empty Quarter and the Saudi Arabia border.
- There is also the Sharjah Desert Park and al-Hisn Fort.
Overview
The petroleum rich country of the United Arab Emirates on the Gulf is a confederation of several Arab countries. Sometimes the alliance is uneasy, but it still holds firm.
Currency Summary
Current currency: dirhams
100 fils equal 1 dirham
Coins: 1, 5, 10, 25 and 50 fils; 1 dirham
Banknotes: 5, 10, 20, 50, 100, 200, 500 and 1,000 dirhams