The dirham is the currency of the United Arab Emirates .The ISO 4217 international currency code for the United Arab Emirates dirham is AED. Unofficial abbreviations include DH or Dhs. The dirham is subdivided into 100 fils
The name Dirham derives from the Greek word Drachmae, literally meaning "handful", through Latin.Due to centuries of old trade and usage of the currency, dirham survived through the Ottoman regime.
The United Arab Emirates dirham was introduced 19 May 1973. It replaced the Qatar and Dubai riyal at par. 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. Before 1966, all the emirates that were to form the UAE used the Gulf rupee. As in Qa, the emirates briefly adopted the Saudi riyal during the transition from the Gulf rupee to the Qatar and Dubai riyal.
In 1973, coins were introduced in denominations of 1, 5, 10, 25, 50 fils, and 1 dirham. The 1, 5 and 10 fils are struck in bronze, with the higher denominations in cupro-nickel. The fils coins were same size and composition as the corresponding Qatar and Dubai dirham coins. In 1995, the 50 fils and 1 dirham coins were reduced in size, with the new 50 fils being curve-equilateral-heptagonal shaped.
The value and numbers on the coins are written in Eastern Arabic Numerals and the text is inArabic. The 1, 5 and 10 fils coins are rarely used in everyday life, so all amounts are rounded up or down to the nearest multiples of 25 fils. The 1 fils coin is a rarity and does not circulate significantly. 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.
Since 1976 the Currency Board of the United Arab Emirates has minted several commemorative coins celebrating different events and rulers of the United Arab Emirates.
This is a commemorative coin issued in 1998 during 35th anniversary of the National Bank of Dubai..The coin is of 6.5 gram and diameter of 24 mm. Zayed bin Sultan Al Sultan Al Nahyan van Verenigde Arabische Emiraten(1971-2004).Obverse reads 1963-1998 The National Bank of Dubai 35th Anniversary and reverse reads United Arab Emirates in Arabic.
500,000 cupro-nickel(copper nickel) coins were minted and now its peak value is $ 23.
500,000 cupro-nickel(copper nickel) coins were minted and now its peak value is $ 23.
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