The currency of Dubai is the dirham, which is available in banknotes and coins. A dirham is divided into 100 fils and the currency is strongly pegged to the US dollar. So if you are on holiday in Dubai you have to pay in dirhams.
It is always worth paying attention to the current daily rate. An exchange of euros into dirhams is no problem there and that is done in a few minutes. For tourists, it is recommended to have a few dirhams exchanged at the house bank in advance of the trip to Dubai so that you can pay for the first days of vacation in Dubai. Then you can go to an exchange office in Dubai, which can be found in shopping malls, for example.
Of course, you can also pay with credit cards in Dubai. This is of course very convenient and you only need to show the card. But there you should consider the additional fees and that can be more expensive again. So the best option is to exchange euros for dirhams where there are no fees.
It was already planned that the Gulf States would introduce their own currency. But so far nothing has come of it and the currency of Dubai is still the dirham. There, for example, Bahrain, Qatar, Kuwait, Oman, and Saudi Arabia should all have a common currency. Perhaps this will be introduced one day. But not at the moment and everyone has their own means of payment.
There are exchange offices, for example, in the large shopping malls in Dubai such as the Dubai Mall or Mall of the Emirates. You just go there and give the employee the euro bills and they will then exchange them for dirham bills. But it is important there that you check the exchange rate beforehand at the various exchange offices and these are also very different there.
The United Arab Emirates coins denominations are 25 fils, 50 fils, and AED 1
You should also check afterward whether you have received the specified course. It may well happen that you suddenly get a different course than the one indicated. This could be a tactic or the course may have suddenly changed. To be on the safe side, you should have the course confirmed again beforehand. Of course, the employees immediately see that you are a tourist and they like to be ripped off there once.
It is best to always pay everything in cash in Dubai and if you want to buy something bigger then you can use a credit card. But this should only be used in an emergency as the fees can be very high. Then there is the exchange rate and the credit card company also charges a few percent. If you don’t pay attention there, you will surely get a bigger bill from your credit card company after your trip to Dubai.
You shouldn’t change money in the hotel as you will certainly get a worse rate there than in an exchange office. Of course, they also offer this service. But you should only change money there if you urgently need it. Otherwise, it is better to wait until you find an exchange office. You get a lot more money there than in a hotel.
The United Arab Emirates Dirham denominations range between AED 5 and AED 1000
The official currency abbreviation is called the UAE Dirham and you can see the abbreviations Dh and Dhs in the shops. For banknotes, there are 5, 10, 20, 50, 100, 200, 500, and 1000 banknotes and for coins, there are 1, 5, 10, 25, and 50, although the 1 dirham coin has not been used for a long time. The 5 and 10 fils coins are also rarely used.
At Dubai Airport you can of course also exchange money and that is useful when you arrive there and then you can exchange a few dirhams. However, you shouldn’t exchange too much there because you get a worse rate at Dubai Airport than in a shopping mall. You should only exchange money there if you urgently need something.
The best exchange rate is often obtained in a souk where there are few tourists. Because where there are many tourists, the course is usually worse. Our tip is the Old Souk in Deira, which can be easily reached with an Abra. As a rule, not many tourists look around there. But there you get a lot more for your money and the souvenirs are also a lot cheaper. The way there is definitely worth it and you should do this for the first few days.
The UAE Dirham has risen against the British Pound in the last year
You should therefore always look at the exchange rate when you see an exchange office and if you think that it is good then you should exchange money there. In principle, you should always watch it. If you are in a mall then you should always briefly check the exchange rate. Of course, this always changes daily. It may well be that you get more the next day than before.
There are also ATMs in Dubai where you can withdraw money with your EC card or credit card. You can usually find these in a large shopping mall. However, there are also high fees that should be avoided. As already mentioned, you should only do this if you have run out of money and there is no exchange office nearby. It is best to always take cash with you and then lock it in the safe in the hotel until you need it.
That is of course also possible. But you need a lot longer there than in an exchange office. Often it can be that she still wants to see the ID. If you then have this in the hotel then you may not be able to get any money changed. So this is not the best option to use either. You always have to go to a bank first.
As a tourist, you are allowed to bring a maximum of 100,000 dirhams into the country. When entering the country, the officials often ask how much money you have with you. In any case, you always have to give correct information there. If you don’t do this then you can run into problems. If you want to import more than 100,000 dirhams into Dubai then this has to be declared.