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The dirham () ( sign: د. إ ; code: AED ) is the currency of the United Arab Emirates.
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dirham and ()
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The country's currency, the dirham, is now fully convertible for current account transactions ; reforms of the financial sector have been implemented ; and state enterprises are being privatized.
In March 2005, the US opened negotiations on a free trade agreement and despite recent increasing depreciation of Gulf currencies, the UAE dirham remains pegged to the plunging dollar.
Kelantan has become the first state to introduce the gold dinar and silver dirham as official currency.
In 1975, coins were introduced in denominations of 1, 5, 10, 20, 50 and 100 dirham which bore the coat of arms of the Federation of Arab Republics.
Until 1992, coins were denominated in Arabic using fils, qirsh, dirham and dinar but in English only in fils and dinar.
Since 1992, the fils and dirham are no longer used in the Arabic denominations and the English denominations are given in dinar and either qirsh or piastres.
In peripheral regions, even cruder counterfeits might pass: in the Viking-age site in Coppergate, Coppergate, York, a forgery of an Arab dirham was found, struck as if for Isma ' il ibn Achmad ( ruling at Samarkand, 903-07 / 8 ), of copper covered by a once-silvery wash of tin.
Historically, the word " dirham " is derived from the name of a Greek coin, the Drachma ( δραχμή ); the Greek-speaking Byzantine Empire controlled the Levant and traded with Arabia, circulating the coin there in pre-Islamic times and afterward.
The dirham was struck in many Mediterranean countries, including Al-Andalus ( Moorish Spain ) and the Byzantine Empire ( miliaresion ), and could be used as currency in Europe between the 10th and 12th centuries, notably in areas with Viking connections, such as Viking York and Dublin.
Sheikh Rashid brought Dubai to join Abu Dhabi and other northern Emirates to create the United Arab Emirates in 1971, and in 1973, Dubai joined the other emirates to adopt a uniform currency, the UAE dirham.
The Qatar and Dubai riyal had circulated since 1966 in all of the emirates except Abu Dhabi, where the dirham replaced the Bahraini dinar at 1 dirham = 0. 1 dinar.
dirham and ;
Currency Board introduced notes in denominations of 1, 5, 10, 50, and 100 dirham ; a 1000 dirham note was issued on 3 January 1976.
The 200 dirham denomination is scarce as it was only produced in 1989 ; any circulating today come from bank stocks.
The 200 dirham denomination has since been reissued and is now in circulation since late May 2008-it has been reissued in a different colour ; Yellow / Brown to replace the older Green / Brown.
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In making change there is a risk of confusing the old 50 fils coin for the modern 1 dirham coin because the coins are almost the same size.
By August 2006 it became publicly known that the Philippine one peso coin is the same size as one dirham.
The word " dram " translates into English as " money " and is cognate with the Greek drachma and the Arabic dirham.
This multi-billion dirham desert development is spread over thousands of acres and includes an 18-hole championship course designed by Ian Baker-Finch and Nicklaus Design, a polo ground and an equestrian centre.
It is divided into 100 dirham ( درهم ) and is abbreviated as either QR ( English ) or ر. ق ( Arabic ).
* Capital: 302, 371, 500 Moroccan dirham (€ 27, 008, 467 / £ 18, 228, 395 / US $ 36, 750, 427 ), including 68 % owned by the state and the rest is owned by its private financial bodies.
While the dirham is a fully convertible currency, export of the local currency is prohibited by law, but seldom controlled.
dirham and currency
Due to centuries of old trade and usage of the currency, dirham survived through the Ottoman regime.
The Arabic unit of currency known as the dirham, known from pre-Islamic times up to the present day, inherited its name from the drachma.
It replaced the franc as the major unit of currency but, until 1974, the franc continued to circulate, with 1 dirham
0.392 seconds.