The United Arab Emirates Dirham is the only currency being used in the UAE. Dubai is one of the Emirates and that is why it also uses the UAE dirham as the Dubai currency. The symbol of the currency is written AED or DH. The Philippine peso is the currency being used in Philippines, the symbol for the Philippines currency is PHP which can also be written as P. it is also important to note that the United Arab Emirates Dirham is normally divided into 100 fils while the Philippine Peso is also divided into 100 centavos. United Arab Emirates Dirham exchange rate was last updated on December 2013 from the International monetary fund. You will also note that the same month and year the Philippine peso exchange rate was also updated by the international monetary fund.
If you are visiting Dubai from Philippine or any other part of the country you can exchange any currency in Dubai at any bank, their also other money changers stores that can help in currency exchanges. As you have noted Dubai does not have any currency restrictions, so any shoppers visiting can exchange any currency without having to go through a long process as you will get money changers at any site ready to help you. Travelers should also note that certain coins being used in Philippines are easily confused with the Dubai currency as they are of the same size with the UAE dirham coin.
The history of the Dubai currency started as early as 1959 until 1966 when all the Emirates were using the Gulf rupee. The Gulf rupee was being issued by the bank of India as well as being pegged as the Indian rupee. During the 1966 devaluation the Dubai riyal was choose as the Dubai currency. As the time went by the emirates also established a currency which is the UAE dirham which is being used to date in Dubai. Printing of money in Dubai as well as issuing of the currency is the work of the banking department of its central bank of the United Arab Emirates which is located in Abu Dhabi. Bank notes are mostly printed in France. You will also note that the bank note has a falcon watermark and at the same time has some cutting –edge which acts as security marking in order to minimize any forgery. In today’s market central bank plays a very important role in providing solid and safe currency not only in Dubai.
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