United Arab Emirates
United Arab Emirates
Monetary System
In March 2023, the United Arab Emirates launched its digital currency (CBDC) strategy and completed its first cross-border payment transaction worth 50 million dirhams. The People's Bank of China and United Arab Emirates renewed a bilateral local currency swap agreement with a scale of RMB 35 billion/dirhams 18 billion.
The United Arab Emirates dirham is the legal tender issued by the Central Bank of the United Arab Emirates. The standard code is AED and adopts the decimal system of 1 dirham =100 firs. There are eight denominations of banknotes 5, 10, 20, 50, 100, 200, 500, and 1000 dirhams. The coins include 1 dirhams and 1, 5, 10, 25, and 50 filhams.
The Central Bank of the United Arab Emirates formulates monetary policy in accordance with Federal Law No. 10 of 1980, with the core goals of maintaining currency stability and economic development. The currency has been in circulation since December 1971. In October 2018, the new version of the 100 dirham banknotes used 3D printed anti-counterfeiting logos for the first time. The 50 dirham commemorative banknote will be issued in December 2021 to celebrate the 50th anniversary of the founding of the People's Republic of China. The new version of the 1000 dirham banknote issued in December 2022 will bear the pattern of the Baraka nuclear power plant built by South Korea on the back.
In March 2023, the United Arab Emirates launched its digital currency (CBDC) strategy and completed its first cross-border payment transaction worth 50 million dirhams. The People's Bank of China and United Arab Emirates renewed a bilateral local currency swap agreement with a scale of RMB 35 billion/dirhams 18 billion.
Currency name: Feir
Currency conversion: 1 Dirham =100 Fil
With the development of digital finance, United Arab Emirates dirham has been included in HSBC's tokenized deposit service system since the first half of 2026, covering corporate customers in the United States and United Arab Emirates, becoming the sixth currency supported by HSBC tokenization after the euro, pound, and dollar.
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Screenshot 2025-10-22 pm 4.15.09