Dubai is a hub for tourism, business, investment, and luxury shopping, all these things make it essential for good currency exchange especially for tourists. We can understand how frustrating it might be to find a currency exchange and that too at an unknown place. Having information about where, how, and when can help you find the best exchange rates, and will also save you time.
Therefore, we bought you a guide on all the things you should know about currency exchange. Here you will get all the information related to the best places for currency exchange, rules and regulations, transfer tips, and much more. So buckle up and get ready to grasp this vital information before your trip to Dubai.
UAE Dirham (AED/Dhs): Dubai’s Currency
The UAE Dirham (AED or Dhs), which is based on the US dollar and is valued at 1 USD = 3.6725 AED, is the official currency of Dubai and the United Arab Emirates.
Currency breakdown:
- Coins of 1 AED, 25 fils, and 50 fils
- 5, 10, 20, 50, 100, 200, 500, and 1000 AED are the banknotes.
Pro Tip: For tips and taxis, always have small bills (5, 10, 20 AED) on hand.
Where in Dubai Can I Exchange Money? (Best & Worst Options)
Top Currency Exchange Locations
Exchange houses with licenses (best rates)
The most reputable of Dubai’s authorized exchange centers are:
- The best exchange for USD, EUR, and GBP is Al Ansari.
- Exchange for the UAE (widely available)
- Al Rostamani Exchange (suitable for currencies from Asia)
- Emirates NBD & ENBD Forex (reliable, bank-affiliated)
Top Spots:
- Competitive prices in Deira (Naif, Al Fahidi)
- Convenient but slightly more expensive are Dubai Mall and Mall of the Emirates.
- Airport (Terminals 1 and 3): Good prices if you stay away from Travelex
Banks (slower and more expensive, but safer)
- Excellent for big bank-to-bank transfers
- less expensive than exchange houses
- ID (passport or Emirates ID) is required
Hotels and ATMs
- Hotels: These are the worst places for currency exchange. The rates are not at all attractive (usually 10% lower than the market value).
- ATMs: You will find fair rates here but the withdrawal fees are quite high. It is AED 15-25 per transaction.
Worst Places to Exchange Money
- Unauthorized Street Dealers, led to the counterfeiting of money.
- Tourists trap in souks, there are hidden fees.
- Airport Kiosks, the rates are quite poor here.
Rules and Limitations for Currency Exchange
How much cash is permitted to bring?
- There is no specified limit on the cash however, if your amount is over AED 100,000 or is equal to it, then you must file a declaration.
- AED limit: You can only carry out AED 60,000 in and out of the UAE.
Is it necessary to carry Exchange receipts?
- For small amounts, there is no need to carry exchange receipts.
- If the exchange is above AED 10,000, then you need to show ID proof.
Sending Money from Dubai to Abroad
- There is no restriction on the outward amount.
- The transfer will be tax-free because there is no Income tax in Dubai.
- Al Ansari Exchange, Western Union, and Wise are the best options for remittances.
How Can I Find the Best Exchange Rates in Dubai?
Seven Insider Pointers to Increase Rates
- Steer clear of hotels and airports (worst rates)
- Start by comparing prices online (Google “AED to [your currency] today”).
- Better exchange rates than malls can be found in Deira or Bur Dubai.
- Ask for big sums (AED 5,000+) in negotiations.
- For the best rates, use a forex card (Revolut, Wise).
- Look for deals with no commission (some exchanges waive fees).
- Pay in AED at all times to avoid dynamic currency conversion (DCC).
Typical Money Exchange Frauds and How to Prevent Them
Although Dubai is generally safe, visitors should be aware of:
- Counterfeit Exchanges
Use only authorized exchanges (check for Central Bank approval).
- “No Commission” traps
While some establishments provide “0% commission,” their rates are subpar.
- Shortchanging Fraud
Before you leave, always count your money.
- Fake AED Notes (Very Rare, but Possible)
Examine AED 50+ notes for watermarks and holograms.
We hope that now you have all the necessary information you might need for currency and money exchange in Dubai.
