Emirati Dirham

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Emirati Dirham

The currency of the United Arab Emirates. It was introduced in 1971 upon the formation of the United Arab Emirates and their complete independence from Great Britain. Previously, both the Bahraini dinar and the Qatari riyal (then known as the Qatar-Dubai riyal) were used in what is now the UAE. While it was pegged to the IMF special drawing rights in 1978, the dirham has been pegged to the U.S. dollar unofficially for most of its history. The UAE officially pegged the dirham to the dollar in 1997.
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According to STR Global analysts, the exchange rate between the Euro and the UAE Dirham favours outbound tourism.
But these problems are small compared to the risk of the uncertainties of putting the UAE dirham against a basket, or even floating it on the open market.
The foreign currency seized from illegal currency dealers USD 422711, KSA Riyal 2784005, UAE Dirham 60,000, Afghan currency 787904, Pak Rs.
According to the Gulf News, the exceptional drop in the Indian rupee against the UAE dirham is expected to sharply increase remittances to India from the UAE.
The Islamic Republic, which announced it was dropping the dollar a few years ago, is now trying to get out of the euro and is contemplating a shift to the UAE dirham, much to the amusement of UAE officials.
This matter of changing over to UAE dirham is under discussion among Iranian officials at the moment but has not been implemented yet," the official from the Iranian Embassy in the United Arab Emirates told Reuters on condition of anonymity.
Abu Dhabi contractor National Projects & Construction is targeting a two billion UAE dirham ($544.
October's record figure has contributed to a 15 per cent year-on-year increase in sales of the UAE Dirham - the currency used in the seven states which form the United Arab Emirates.
Not long ago, the UAE banks landed in a serious liquidity squeeze, after foreign banks withdrew Dh100 billion worth of funds from the local banks placed with them to make quick gains from the much-anticipated de-pegging of the UAE dirham from the US greenback, which did not happen.
According to The Telegraph, Mahmoud Karzai borrowed seven million UAE dirham (1.
The Sharjah Police on Wednesday arrested a gang of three Bangladeshis involved in forging fake UAE dirham notes.
LGB Bank in association with MasterCard today announced the launch of Lebanon's first UAE Dirham MasterCard Credit Card that has been designed for the bank's visiting and UAE resident customers.