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If you’re planning a trip to the United Arab Emirates in the near future, you may want to exchange some of your money into dirham, the country’s official currency. The international symbol for the currency is AED.
Since 1997, the dirham has been pegged to the U.S. dollar. Instead of fluctuating, the conversion is always the same: 1 USD is worth 3.6725 AED.
This post has everything you need to know about converting USD to AED, including where to secure the best exchange rates and how to avoid paying high fees on your conversion.
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Calculating a conversion of dollars to AED is relatively simple. You can make the conversion using a calculator, or you can do it by hand.
Using a currency conversion calculator is typically the easiest way to get an estimate when converting currency.
Keep in mind that exchanging currency often comes with added fees that a conversion calculator won’t be able to predict. For instance, credit card companies and ATM networks usually charge a 1% conversion fee on all foreign transactions. Individual merchants may also charge supplemental fees if you ask them to convert the price of an item to your home currency at checkout.
Another option is to do the calculation manually using a simple mathematical formula. You need to know the current exchange rate—in this case, 1 USD is worth د.إ 3.6725 AED.
Multiply the amount you have in USD by the exchange rate. The resulting number will show you the amount of AED you have available to spend on your trip.
Let’s say you have 1,000 USD and would like to figure out how many dirhams you have for a trip to the U.A.E. Using the current exchange rate, the formula for your conversion would look like this:
1,000 USD x 3.6725 = 3670.25 AED
When you’re ready to buy dirhams, it’s a good idea to plan to ensure that you pay the fewest and lowest fees. Here are three ways to get the currency you need while minimizing the fees you’ll be charged:
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Initiate transfers 24 hours a day, 7 days a week
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CurrencyFair
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