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If you plan to travel to the UAE in the near future, you may need to exchange some of your money in dirham, the country’s official currency. The foreign currency symbol is AED.
Since 1997, the dirham has been pegged to the US dollar. Instead of fluctuating, the conversion is the same: 1 USD has a value of AED 3. 6725.
This article covers everything you want to know about converting USD to AED, and adds where to get the most productive exchange rates and how to pay the highest fees on your conversion.
Calculating a conversion from dollars to AED is straightforward. You can perform the conversion using a calculator or by hand.
Using a currency conversion calculator is the easiest way to get an estimate when converting currencies.
Keep in mind that currency exchange comes with additional payments that a conversion calculator may not be able to predict. For example, credit card companies and ATM networks generally rate a 1% conversion payment on all foreign transactions. Individual merchants would also likely qualify for more payments if you ask them to convert the value of an item to their local currency at checkout.
Another option is to perform the calculation manually with an undeniable mathematical formula. You want to know the existing exchange rate. In this case, 1 USD has a value of AED 3. 6725.
Multiply the amount you have in USD by the exchange rate. The number will tell you how much AED you have to spend on your trip.
Suppose you have 1000 USD and would like to know how many dirhams you have to travel to the United Arab Emirates. Using the existing exchange rate, your conversion formula would look like this:
USD 1000 x AED 3. 6725 = AED 3670. 25
When you’re in a position to buy dirhams, it’s a smart concept to plan ahead to make sure you’re paying the lowest rates. Here are 3 tactics to get the currency you want and minimize the fees you’ll be charged:
Next step: