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Currency profile

UAE Dirham (AED)

The dirham (AED) is the official currency of the United Arab Emirates. It is divided into 100 fils and has been pegged to the US dollar at a fixed rate since 1997, which makes it one of the most stable currencies in the region.

The dirham today

Mid-market · updating…

1 AED = — USD
1 AED = — EUR
1 AED = — GBP
1 AED = — INR

Against the US dollar the dirham is fixed at 3.6725 (about 1 AED = 0.2723 USD), so that figure barely moves; it is the rate against floating currencies like the euro and rupee that changes.

The US-dollar peg

Since November 1997 the dirham has been pegged to the US dollar at 3.6725 dirhams to the dollar. Before that, it was pegged to the International Monetary Fund's Special Drawing Rights (SDR) from 28 January 1978. Because one side of every dirham exchange rate is fixed to the dollar, the dirham effectively moves with the US dollar against every other currency — not with independent UAE monetary policy.

The issuing central bank

The dirham is issued by the Central Bank of the UAE, established in 1980 under Union Law No. 10 of 1980, which took over from the UAE Currency Board. The central bank holds the reserves that maintain the peg, which has been unchanged since 1997.

History

  1. 1959India introduced the Gulf rupee for circulation in the Persian Gulf, replacing the Indian rupee used in the Trucial States.
  2. 1966After India devalued the Gulf rupee, most of the Trucial States adopted the Qatar and Dubai riyal; Abu Dhabi used the Bahraini dinar.
  3. 1971The United Arab Emirates was federated on 2 December 1971.
  4. 1973The UAE dirham was introduced on 19 May 1973, replacing the Qatar and Dubai riyal (and the Bahraini dinar in Abu Dhabi) at par.
  5. 1978The dirham was officially pegged to the IMF Special Drawing Rights on 28 January 1978.
  6. 1980The Central Bank of the UAE was established, taking over from the UAE Currency Board.
  7. 1997The dirham was pegged to the US dollar at 3.6725 — the rate still in force today.

Coins and banknotes

One dirham is divided into 100 fils. Coins of 1, 5, 10, 25 and 50 fils and 1 dirham were issued from 1973; today only the 25 fils, 50 fils and 1 dirham coins circulate. The Central Bank of the UAE issues banknotes of 5, 10, 20, 50, 100, 200, 500 and 1,000 dirhams.

Popular dirham pairs

Structural facts reviewed 2 August 2026 · reviewed quarterly. Sources: UAE Government (u.ae) · Central Bank of the UAE · World Bank. Live rates are mid-market — see our Methodology.