Currency Exchange in UAE
Page update - Sep 17, 2023
There is no strict currency control in the United Arab Emirates. Many stores and vendors in the markets accept dollars, pounds, euros, but the rate is not good for tourists. We recommend exchanging currency to the local dirhams, as it is more convenient.
On this page we will describe in detail all the nuances of currency exchange in the UAE. Read more about the UAE national currency (banknotes, coins, features) on the page "Money of the UAE".
What currency is better for the UAE
It is best to bring US Dollars. The UAE dirham exchange rate is pegged to the US dollar - 1 USD = 3,673 AED. Accordingly, it is very easy to navigate in numbers, no need to count anything and follow the situation on exchanges.
If your country's currency differs then no need to exchange in advance to dollars or dirhams. Just take your euros, pounds, etc with you to the UAE. You can exchange most any currency there, and the losses are low.
For example, at the day of update of this page (September 2023) the rate for Australian dollar to UAE dirham in exchange offices "Al Ansari" is 2,4 (buy) and 2,29 (sell). As you see, the spread (buy and sell difference) is only 4.6%. Don't worry, take your currency and exchange it in the UAE.
WARNING! In case of some currency unstable the exchange rate may be very bad. Or exchange may be unavailable at all. On the day of the update of this page you can see such a situation with the Russian ruble. Now, it is almost impossible to change rubles.
Main rule of changing US dollars
It goes like this:
- If the exchange rate of the dirham is higher than 3.6, then change with no doubts;
- If the exchange rate is between 3.5 and 3.6, then change small amounts for your daily expenses (taxi cab, metro from the airport, a snack or coffee in a cafe).
Rules of changing other currencies
Watch for the official rate and compare it with the rate in the exchange branch. If the difference is less than 2,5% then change with no doubts.
Actual official rates of UAE dirham
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Exchange rates at 05.10.2024 1 UAE dirham = 0,2722 US dollar 1 UAE dirham = 0,2074 UK pound 1 UAE dirham = 0,2480 EURO 1 UAE dirham = 0,3695 CAN dollar 1 UAE dirham = 0,4006 AUS dollar 1 UAE dirham = 0,4419 NZ dollar 1 UAE dirham = 22,8720 IND rupee 1 UAE dirham = 0,2335 Swiss francs 1 UAE dirham = 1,9105 Chinese yuan 1 UAE dirham = 40,4680 Japanese yen 1 US dollar = 3,6738 UAE dirham 1 UK pound = 4,8216 UAE dirham 1 EURO = 4,0323 UAE dirham 1 CAN dollar = 2,7064 UAE dirham 1 AUS dollar = 2,4963 UAE dirham 1 NZ dollar = 2,2630 UAE dirham 1 IND rupee = 0,0437 UAE dirham 1 Swiss francs = 4,2827 UAE dirham 1 Chinese yuan = 0,5234 UAE dirham 1 Japanese yen = 0,0247 UAE dirham |
Where to change money
Exchange offices can be found at airports, hotels, shopping malls, and just on the streets of cities. You can change money in banks. We will talk about each way in detail.
Exchange at the airport
In every international airport in the UAE there are currency exchange offices. The rate usually is not good: 3,5-3,6 dirhams for one US dollar and up to 5% losses for other currencies.
We advise to exchange a small amount for running expenses. When buying a ticket in the Dubai Metro, only dirhams are accepted. In a taxi cab in the Arab Emirates you can pay in dollars, pounds or euros, but you have to negotiate the exchange rate with the driver. They often ask to pay at a ratio of 3 dirhams to a dollar.
There is a way to change money in a Duty Free store. You have to buy something and ask for the change in dirhams. But watch the exchange rate in the store, it can be unprofitable.
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Exchanging in banks
Exchanging money in a bank is profitable, but inconvenient. They always require documents for exchange. The banks are open from 8 (or 9) a.m. to 1 (or 2) p.m. Some banks are additionally open from 4pm to 6pm. On Friday banks do not work, it is a holy day for Muslims. On Saturdays and Sundays, they also do not work.
Working hours now are less, because since January 3, 2022 UAE switched to the new format of the working week, details in our page "Weekend in UAE".
Exchange at the hotel
The exchange rates at the hotel exchange offices are unprofitable: 3.5 to 3.6 dirhams per dollar. But this way is the most convenient, because you don't have to go anywhere, and the work schedule is from 8 am to 10 pm (usually).
Exchange offices in malls and on the street
Look for such offices by the signs "Money Exchange" or "Exchange". In shopping malls, the role of exchangers is played by bank branches, which are open from morning to evening. Exchange rates in exchange offices in shopping malls and on the street are the best.
Exchange offices offer a wide range of additional services. You can cash traveler's checks, accept Western Union transfers, make photocopies of documents, or buy a local SIM.
Attention! Commission!
In the UAE there are no clear rules or traditions of currency exchange. Some exchange offices charge commission, some do not. If there is a commission it may be fixed or be a percentage. As experience shows, many tourists look only at the exchange rate, and do not pay attention to other inscriptions.
To avoid unpleasant situations, it is better to use a proven method. Show the employee of the exchange office a bill (100 USD of euros is better to make it easier to count) and ask: "How much in dirhams?" He will show you the amount, usually by a calculator. Divide this amount by the value of your banknote (in our example, by 100) and you will get the real exchange rate.
This method works in all countries. Use it, you will not regret it.
More important points
Exchange offices are common in the UAE. There is no need to change a large amount at once, change the amount enough for a couple of days. Read our page "How much money to take in the UAE".
In theory there is no ban on taking UAE dirhams out of the country, except for the amount of 60,000 dirhams (read our review "What you may not take out of the UAE" for more details). But it would be very difficult to exchange them outside the UAE, they may serve only as a souvenir. We strongly recommend you to exchange all remaining dirhams for dollars, pounds or euros before departure home.
We wish you a pleasant experience in the UAE, and read our useful for tourists pages about this country (see the list of pages below).
