The Value of 1 Dirham Coin in India
The United Arab Emirates (UAE) Dirham is a widely used currency in the Middle East, but its value is also recognized in other parts of the world, including India. In this article, we will explore the value of 1 Dirham coin in India and its significance in the country's economy.
History of Dirham in India
The use of Dirham in India dates back to the pre-independence era when the country was a major trading partner with the Middle East. During this time, Dirham was widely used as a form of currency in international trade, particularly in the Gulf region. Even after India gained independence, the Dirham continued to be accepted in certain parts of the country, especially in areas with significant trade relationships with the UAE.
Current Value of 1 Dirham Coin in India
As of 2023, the exchange rate of 1 UAE Dirham (AED) is approximately equivalent to 20 Indian Rupees (INR). This means that 1 Dirham coin is worth around 20 Rupees in India.
Acceptance of Dirham in India
Although the Indian Rupee is the official currency of India, Dirham is widely accepted in certain areas, particularly in cities with significant trade relationships with the UAE. Some of the places where Dirham is commonly accepted in India include:
Major Tourist Destinations
- Goa
- Kerala
- Tamil Nadu
Business Hubs
- Mumbai
- Delhi
- Bangalore
Areas with High UAE Expatriate Population
- Kochi
- Hyderabad
- Chennai
Significance of Dirham in India's Economy
The acceptance of Dirham in India is significant for several reasons:
Boost to Tourism
The acceptance of Dirham in tourist spots like Goa and Kerala encourages tourists from the UAE to visit India, which in turn boosts the tourism industry.
Facilitates Trade
The use of Dirham in business hubs like Mumbai and Delhi facilitates trade between India and the UAE, promoting economic growth and development.
Convenience for Expatriates
The acceptance of Dirham in areas with high UAE expatriate population makes it easier for them to manage their finances and conduct daily transactions.
Conclusion
In conclusion, the value of 1 Dirham coin in India is approximately 20 Indian Rupees. The acceptance of Dirham in certain areas of India not only facilitates trade and tourism but also provides convenience to UAE expatriates living in the country. As the economic relationship between India and the UAE continues to grow, the significance of Dirham in India's economy is likely to increase.
