The UAE has become an attractive destination for tourists and corporates.
The state has taken various measures to attract travelers. This means having state-ofthe-art money transfer services and good foreign exchanges. But every exchange is not the same and identifying the best exchanges will end up saving you a lot of extra money on service charges and fraud.
➢ The official currency is the Dirham or the Emirati Dirham. It was introduced in the year 1973 replacing the Dubai and Qatari Riyal.
➢ One AED or the Dirham is further subdivided into 100 fils.
➢ International cards and ATMs are also available throughout the country allowing you to withdraw cash in the local currency.
➢ You can easily change your local currency into the AED at official exchange centers and banks, throughout the country.
➢ One should keep in mind that the Dirham is tied to the dollar, thus you will only get the best prices if you are converting directly from the US dollar into the Dirham.
➢ Spots like Al Ghurair, Al Ansari, Al Fardan, and Dubai Travel-Ex are ideal currency exchange Dubai spots.
While traveling through the country you will come across loads of exchanges claiming to be zero fees services or ‘no commission services.
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Since you will never get the actual exchange rate for your money, having knowledge of the actual rate will help you to spot the best deal. Thus it is suggested to have a look at the current local rate before you head to the exchange.
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Generally, hotels and airports will be the last-minute spots to exchange your currency, thus they offer the worst rates thereby charging high transaction fees.
➢ ATM facilities are available in Dubai, making it easy for you to withdraw cash at your own convenience. Yet there are service charges associated with it.
➢ If your bank has an overseas branch or some partner bank in Dubai, you might save these extra charges by using their ATMs the next time you visit a shopping mall in Dubai.
