Traveler’s checks from smaller unknown banks may not be accepted at all exchange houses, banks or hotels. If you are doing this, opt for checks from a well known international bank that has locations in Dubai such as HSBC. Many visitors also prefer to carry traveler’s checks as a safety net. Opt for a major credit card and Debit (ATM) card that can be used to withdraw cash from your account overseas. When travelling to the UAE, ensure that you have several different methods of obtaining cash in the country. This is fixed by the Central Bank of the UAE and therefore the US dollar is most likely to be changed at various institutions in the UAE and Dubai. When you enter Dubai, you can expect to buy 3.65 Dhs for every dollar exchanged and while leaving you can expect to pay 3.68 Dhs to convert back to the US dollar. This means that money exchanges are likely to charge only nominal fees for the exchange of dollars that are built into their buy/sell rate. The US dollar is pegged to the Dirham, meaning that unlike other currencies which experience daily fluctuations in exchange rates, the US dollar is available at a fixed rate of 3.675 Dh to the dollar. The most useful piece of information for foreign travelers to the UAE is the exchange rate for the US Dollar. Now that you are familiar with the terminology, below is a guide to money exchange in the UAE, with some useful tips on where to get the best rates. The rate offered to customers who want to engage in money exchange that does not involve the local currency so for example, in Dubai if you want to change from Australian Dollars to US Dollars.įee charged by foreign exchange providers for changing from one currency to another. The difference between buy and sell rates offered by foreign exchange providers. The rate at which you would buy back the currency of your country of origin by selling the local UAE dirham when exiting the country. (Also sometimes called the Holiday money rate or Tourist rate): The rate at which you sell your foreign currency in exchange for UAE dirhams when entering the country. Before we get into the details of currency exchange, here is a quick overview for those who are unfamiliar with the basics.
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