Smallest Currency Note of United Arab Emirates
5 Dirham Note.
5 Dirham Note is the smallest currency note in circulation in the UAE. The UAE Dirham is the currency of the United Arab Emirates. It’s subdivided into 100 fils. And also, the Dirham was introduced in 1973. Earlier it was Gulf Rupee in circulation and Dirham replaced it at par (Same valuation).
What are the UAE Fils?
Fils is the divisional part of the UAE Dirham. Dirham is the official currency of the United Arab Emirates. It is divided into 100 fils. The Dirham is only used in the UAE. It was introduced on December 1, 1973, to replace the Gulf Rupee which was previously used there.
Why are there so many currencies in the United Arab Emirates?
In the United Arab Emirates, there is a unified currency known as the ‘UAE Dirham’. However, many people still use other currencies for some transactions. For example, those from the UK or Canada might use their national currency because it’s more familiar to them. However, all official transactions are happening only in Dirham. UAE Central bank is the institution that controls it. Other currencies used in UAE need to convert into Dirham for official usage and ATM use etc. All the seven emirates are using Dirham as official currency.
What are some of the other currencies that are used in the UAE?
Dirham is the only official currency in the UAE. The other currencies mostly used are U.S. Dollars, British Pounds, Euros, and Japanese Yen. Fils is the smaller part of Dirham. Dirham uses “DHS” and “AED” as prefixes with amounts written. AED stands for Arabian Emirates Dirham.
How has money changed over the years in the Middle East?
Middle Eastern societies have historically accepted gold coins, silver coins, and bronze coins as money. Yet, over the centuries, many of these currencies have disappeared. Also, Indian currency and coins were also in circulation in the early state of UAE formation. The largest denomination of Dirham in circulation today is AED 1000.
Smallest denomination of UAE currency in circulation.
Twenty-Five Fils
The smallest denomination of UAE currency is the Twenty-Five Fils coin. The most circulated and commonly used one is the one-dirham coin. Further down, there are fifty fils and twenty-five fils coins in circulation currently. Prior to the year 2000, there were 10 fils, 5 Fils, and 1 fil coins in bronze metal that were also in use.
Highest denomination of UAE currency in circulation.
One Thousand Dirham.
The UAE Dirham was introduced in 1973 as a replacement for the Gulf Rupee. Also, at the time, it had a value of 2.67 to one US dollar. And also, in 1993, coins were reintroduced as 50 fils and 1 dirham denomination. There are paper notes in denominations of 5, 10, 20, 50, 100, 500, and 1000 dirhams.
Smallest Currency Note of United Arab Emirates