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5 United Arab Emirates Dirham
The United Arab Emirates Dirham (/dirhəm/; Arabic: درهم إماراتي, sign: د.إ; code: AED; commonly abbreviated “DH” or “Dhs.”), also known as simply the Emirati dirham, is the currency of the United Arab Emirates. The dirham is subdivided into 100 fils (فلس).
The name dirham is an Arabic word. Due to centuries of trade and usage of the currency, the dirham survived through the Ottoman Empire.
Before 1966, all the emirates that now form the UAE used the Gulf rupee, which was pegged at parity to the Indian rupee. On 6 June 1966, India decided to devalue the Gulf rupee against the Indian rupee. Not accepting the devaluation, several of the states still using the Gulf rupee adopted their own or other currencies. All the Trucial States except Abu Dhabi adopted the Qatar and Dubai riyal, which was equal to the Gulf rupee prior to the devaluation.
These emirates briefly adopted the Saudi riyal during the transition from the Gulf rupee to the Qatar and Dubai riyal. Abu Dhabi used the Bahraini dinar, at a rate of 10 Gulf rupees = 1 dinar. In 1973, the UAE adopted the UAE dirham as its currency. Abu Dhabi adopted the UAE dirham in place of the Bahraini dinar, at 1 dinar = 10 dirhams, while in the other emirates, the Qatar and Dubai riyal was exchanged at par.
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