United Arab Emirates

AED - United Arab Emirates Dirham
Convertible: Yes - Transferable: Yes - Exchange rate regime: Pegged to USD
United Arab Emirates

Type of transactions

FX Spot FX Forward
Delivery date: T; T+1; T+2 Maximum maturity: 12 months
Liquidity: Good Liquidity: Good

EUR/AED parity: liquidity schedules (GMT)

EUR/AED parity: liquidity schedules (GMT)

Did you know?

Monetary policy

  • The Central Bank of the UAE is the central bank of the United Arab Emirates, in charge of the monetary policy of the seven Emirates of the country.
  • Price setting method: the exchange rate has been defined as fixed since 1980.The Dirham is directly indexed to the US Dollar: the USD/AED exchange rate is in the range of 3.6720/3.6730.

Features and highlights

  • In the Gulf Cooperation Council (GCC), the United Arab Emirates has one of the most liquid currencies.
  • Friday is a non-working day in the GCC, so there is no delivery of AEDs that day.

Regulations

There are no special restrictions on the purchase and sale of AEDs.

 

Expert opinion

Due to the indexation of the AED to the USD, the evolution of the EUR/AED is perfectly correlated with that of the EUR/USD.

Payments in AED to the United Arab Emirates

  • The IBAN format is used in the United Arab Emirates. Payment instructions must contain the full name and address of the beneficiary.
Public Holidays 2018 (subject to change)
New Year’s Day 1 January Eid Al Adha Holiday 22-23 August
Israa & Miaraj Night 13 April Hijri New Year’s Day 11 September
Eid Al Fitr Holiday 14 June Prophet Mohammed’s Birthday 20 November
Eid Al Fitr 15 June Martyrs’ Day 30 November
Arafat (Haj) Day 20 August UAE National Day 2-3 December
Eid al Adha 21 August