🇦🇪 United Arab Emirates
History of the AED
The AED is the official currency of the United Arab Emirates. It was introduced in 1973 to replace the Gulf rupee which had been the currency of the United Arab Emirates since 1959.
The AED is pegged to the US dollar at a rate of 3.6725 AED to 1 USD. In addition to the United Arab Emirates, the AED is also used in the nearby countries of Bahrain, Oman, Qatar, and Yemen. It is issued by the Central Bank of the United Arab Emirates and is printed on polymer, rather than paper.
In 2002, the United Arab Emirates government introduced the Dirham Shamel, which is a commemorative coin issued to mark the 30th anniversary of the UAE’s currency. In 2009, a new series of Dirham Shamel coins were issued, including a 1/4 Dirham coin, a 1/2 Dirham coin, and a 1 Dirham coin.
The AED is widely accepted as a medium of exchange throughout the Middle East, Africa, and South Asia, and is also increasingly being used in Europe and the United States.
Commonly Traded Reverse Currency Pairs with the AED
The AED (United Arab Emirates dirham) is the official currency of the United Arab Emirates which is a country located in the Middle East. It is widely used in international currency markets and is commonly paired with a variety of other currencies. Reverse currency pairs are pairs in which the AED is the base currency and the other currency is the quote currency.
These pairs are used to speculate on the relative strength of the AED against other currencies. The most commonly traded reverse currency pairs with the AED are the following:
1. AED/USD: This is the most common reverse currency pair involving the AED. It involves trading the United Arab Emirates dirham against the US dollar. This pair is popular amongst traders because it provides a good opportunity to speculate on the relative strength of the AED against the USD.
2. AED/EUR: This pair involves trading the AED against the euro. It is popular amongst traders because it provides an opportunity to speculate on the relative strength of the AED against the euro.
3. AED/GBP: This pair involves trading the AED against the British pound. It is popular amongst traders because it provides an opportunity to speculate on the relative strength of the AED against the pound.
4. AED/JPY: This pair involves trading the AED against the Japanese yen. It is popular amongst traders because it provides an opportunity to speculate on the relative strength of the AED against the Japanese yen.
5. AED/CAD: This pair involves trading the AED against the Canadian dollar. It is popular amongst traders because it provides an opportunity to speculate on the relative strength of the AED against the Canadian dollar.
These are the most commonly traded reverse currency pairs involving the AED. They provide traders with an opportunity to speculate on the relative strength of the AED against other currencies. By trading these pairs, traders can take advantage of fluctuations in the exchange rate between the AED and other currencies.
FAQ
The most commonly traded currency pairs with the AED are the US Dollar (USD/AED), the Euro (EUR/AED), the British Pound (GBP/AED), the Japanese Yen (JPY/AED), and the Saudi Riyal (SAR/AED).
The AED is the official currency of the United Arab Emirates (UAE). It is also known as the Emirati Dirham and is abbreviated as AED. The AED is pegged to the US dollar at a rate of 1 AED = 0.2722 USD.
No, the AED is not a free–floating currency. It is pegged to the US dollar and its exchange rate is determined by the UAE Central Bank.
4217 code is AED.