AED Currency Full Form
- AED stands for United Arab Emirates Dirham.
Key Information:
- Currency Code: AED
- Country: United Arab Emirates
- Symbol: د.إ or Dh
- Subunit: Fils (1 AED = 100 fils)
Overview:
- The Dirham is the official currency of the UAE and is used in all seven emirates, including Abu Dhabi, Dubai, Sharjah, Ajman, Fujairah, Umm Al-Quwain, and Ras Al Khaimah.
Historical Context:
- The UAE Dirham was introduced in 1973, replacing the Qatar and Dubai riyal.
Exchange Rates:
- The AED is pegged to the US Dollar at a rate of approximately 3.67 AED to 1 USD.
Usage:
- The Dirham is widely accepted in various forms, including coins and banknotes.
- Common denominations include:
- Coins: 1, 5, 10, 25, 50 fils; 1, 5 AED
- Banknotes: 5, 10, 20, 50, 100, 200, 500, and 1000 AED
Conclusion:
The United Arab Emirates Dirham (AED) is a crucial element of the UAE’s economy and plays a significant role in its financial transactions, both domestically and internationally.