Dubai is a popular tourist destination and a global business hub, with millions of visitors each year. Before arriving in Dubai, it is important to understand the local currency and how to handle money while in the UAE. In this guide, we will provide an overview of the currency in Dubai and offer tips for handling money during your stay.
Understanding the Currency in Dubai
The currency used in Dubai and throughout the United Arab Emirates is the UAE dirham (AED). One dirham is divided into 100 fils. Banknotes are available in denominations of 5, 10, 20, 50, 100, 200, 500 and 1,000 AED. Coins come in 1, 5, 10, 25, and 50 fils, and 1 AED denominations.
Most transactions in Dubai can be carried out using a credit or debit card. However, it is advisable to carry some cash with you, especially when visiting local markets or smaller shops that may not accept cards. ATMs are widely available in malls and other public areas, but it is recommended to use ATMs located indoors or in secure areas for safety.
Tips for Handling Money in the UAE
When exchanging foreign currency for dirhams, it is important to use reputable currency exchange outlets, such as banks or exchange bureaus. Avoid exchanging currency on the street or with unauthorized dealers. Be aware of exchange rates and fees charged by the exchange outlet, as some may charge higher fees than others.
It is also important to carry small denominations of notes when shopping in markets, as vendors may not have change for larger bills. In addition, it is common in Dubai to negotiate prices with vendors, especially in markets. It is advisable to research prices beforehand and be prepared to negotiate to avoid overpaying for goods.
Finally, it is important to keep your money and valuables secure while in Dubai. Use hotel safes to store large amounts of cash, and keep an eye on your belongings in public areas. It is also recommended to avoid carrying large amounts of cash with you when out and about.
In conclusion, understanding currency in Dubai is an important aspect of traveling to the UAE. While most transactions can be carried out using credit or debit cards, it is advisable to carry some cash with you for smaller purchases. By following these tips, you can handle your money safely and efficiently while enjoying your time in Dubai.