1 United Arab Emirates Dirham to Australian Dollars

Find the daily exchange rates for AED/AUD and for all the top World currencies.

Countries That Use United Arab Emirates Dirham (AED) as their official currency

The United Arab Emirates Dirham (AED) is used as the main currency in the following countries: United Arab Emirates

Countries That Use Australian Dollar (AUD) as their official currency

The Australian Dollar (AUD) is used as the main currency in the following countries: Australia, Cocos (Keeling) Islands, Kiribati, Nauru, Tuvalu

$descript The Australian Dollar (AUD)

The AUD - Australian Dollar - is the official currency of Australia, including its external territories like Christmas Island, Cocos (Keeling) Islands, and Norfolk Island. The AUD is also used by several independent Pacific Island nations, including Kiribati, Nauru, and Tuvalu. Known by its symbol '$', and often abbreviated as 'A$', the Australian Dollar is subdivided into 100 smaller units called 'cents.' The AUD has become one of the world’s most traded currencies, reflecting the strength and stability of Australia's economy.

The Australian Dollar was introduced on February 14, 1966, replacing the Australian Pound, which was linked to the British Pound. The introduction of the decimal-based Dollar marked a significant shift in Australia’s financial system, streamlining commerce and aligning the currency more closely with other major economies that were already using decimal systems. The AUD initially maintained a fixed exchange rate under the Bretton Woods system, but in 1983, it transitioned to a free-floating currency. This move reflected Australia’s growing integration into the global economy and marked the beginning of its journey as a key player in international finance.

Australia is known for its abundance of natural resources, including coal, iron ore, gold, and natural gas, which makes the AUD a commodity-linked currency. The value of the AUD often moves in tandem with global commodity prices, particularly those related to minerals and agricultural products. This connection to commodities makes the AUD a popular currency for traders looking to capitalize on the ups and downs of global markets, particularly in relation to resource-driven economies.

The Reserve Bank of Australia (RBA) is responsible for issuing and regulating the currency, and it plays a critical role in maintaining the stability of the AUD. Australia was among the first countries in the world to introduce polymer banknotes, beginning in 1988. These banknotes, which are now used across all denominations, feature advanced security features and are known for their durability and resistance to counterfeiting. The banknotes depict important figures from Australia’s history, including Dame Nellie Melba, an internationally renowned opera singer, and David Unaipon, an Aboriginal inventor and author, as well as iconic Australian landmarks and native wildlife.

The coins are available in denominations of 5, 10, 20, and 50 cents, as well as 1 and 2 dollars. They depict symbols of national heritage, such as the kangaroo and the emu, both of which are significant to Australia’s identity. The reverse sides of the coins often feature commemorative designs that celebrate Australian culture, history, and achievements.

The Australian Dollar is widely accepted throughout the country and plays a vital role in both domestic and international trade. Due to Australia's proximity and strong economic ties with the Asia-Pacific region, the AUD is also widely used in financial transactions involving countries like China, Japan, and South Korea. The currency is often regarded as a barometer for global risk appetite, with its value typically rising during times of global economic optimism and falling during periods of uncertainty.

Tourists visiting Australia will find that the AUD is used everywhere, from bustling city centers to remote outback regions. The currency's colorful banknotes and distinct coins are not only practical but also serve as a representation of Australia’s rich cultural tapestry and natural beauty. The Australian Dollar remains a symbol of the country's economic resilience, adaptability, and active participation in the global marketplace.

About The United Arab Emirates Dirham (AED)

The AED - United Arab Emirates Dirham - is the official currency of the United Arab Emirates (UAE), a federation of seven emirates located in the Arabian Peninsula. Commonly represented by the symbol 'د.إ' or 'DH,' the Dirham is abbreviated as AED, which stands for 'Arab Emirates Dirham.' Each Dirham is subdivided into 100 smaller units called 'fils.' The currency holds great importance in the UAE’s economic development and symbolizes the country’s rapid transformation into a modern, diversified economy.

The Dirham was introduced on May 19, 1973, replacing the Bahraini Dinar and the Qatari and Dubai Riyal, which were previously used in various parts of the UAE. The introduction of the Dirham unified the country's currency system, providing consistency across all seven emirates: Abu Dhabi, Dubai, Sharjah, Ajman, Fujairah, Ras Al Khaimah, and Umm Al Quwain. This change played a critical role in supporting the UAE's economic growth during the oil boom of the 1970s.

The name 'Dirham' is derived from the Greek word 'drachma,' which was historically used across the Arabian Peninsula due to ancient trade routes. The Dirham is often linked to the historical influence of trading with Greece, and it reflects the deep-rooted economic history of the region.

The UAE Dirham is pegged to the US Dollar at a rate of approximately 3.6725 AED to 1 USD, a peg that has been in place since 1997. This fixed exchange rate has provided the UAE with monetary stability, especially important given the country’s role as a global business hub. The peg to the US Dollar supports investor confidence and helps the UAE maintain stable financial markets, particularly given its heavy involvement in international trade, tourism, and finance.

In terms of currency circulation, the Dirham comes in both coin and banknote forms. Coins are issued in denominations of 1, 5, 10, 25, and 50 fils, as well as 1 Dirham, while banknotes range from 5 to 1000 Dirhams. The banknotes feature iconic landmarks and symbols of the UAE, such as the Sheikh Zayed Grand Mosque, the Burj Khalifa, and traditional cultural elements like the Dallah (Arabian coffee pot). These images reflect the UAE's blend of tradition and modernity.

The AED is widely used throughout the UAE, and its stability and reliability have contributed to the country’s rapid economic growth, making it a major financial center in the Middle East. The Dirham is also used by tourists, foreign workers, and investors, which has helped the currency maintain a significant presence beyond the UAE’s borders. The UAE’s commitment to economic diversification, along with its robust financial sector, has ensured that the Dirham remains a strong and stable currency in the global market.

As the UAE continues its ambitious development projects, the Dirham will play a crucial role in facilitating trade, tourism, and investment in the country, reflecting the UAE's dynamic and resilient economy.

United Arab Emirates Dirham (AED) Frequently Used Conversions