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United Arab Emirates is one of the richest countries of the world. Thanks to oil reserves that are in possession of the country. Apart from the oil wealth that United Arab Emirates has, the tourism that they receive every year also plays a vital role in the economic growth of the country. Having knowledge about the economy of the UAE and United Arab Emirates currency tells us about how strong a country’s inner structure is.
United Arab Emirates Dirham
To proceed with United Arab Emirates currency, let us begin by telling you about the official currency of United Arab Emirates which is United Arab Emirates dirham. In other words, it is simply called Emirati dirham.
History of UAE Dirham
The history of dirham goes back to 19th May 1973 when it was first introduced and replaced the Dubai riyal. The Dubai riyal was the currency from the start of 1966 that used to circulate in United Arab Emirates except in Abu Dhabi but since the introduction of Dirham, it is being used all over United Arab Emirates.
Official Currency of UAE
The official currency of UAE, Dirham is further divided into 100 fils. The United Arab Emirates currency rate has been high since the oil reserves were discovered in the country and keep fluctuating with the passage of time. Very recently the price of Emirati Dirham has risen. As of today’s international market, the UAE currency rate is; 1 United Arab Emirates Dirham is equal to 36.09 Pakistani rupees while 1 United Arab Emirati Dirham is equivalent of 0.27 United States Dollars.
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