1 Dirham to Birr Black Market Exchange Rate Today
Introduction
The Dirham is the official currency of the United Arab Emirates (UAE), while the Birr is the official currency of Ethiopia. The exchange rate between these two currencies can fluctuate constantly, and the black market rate may differ from the official exchange rate. In this article, we will provide you with the current 1 Dirham to Birr black market exchange rate and some information about the currencies.
Current Exchange Rate
As of today, the 1 Dirham to Birr black market exchange rate is:
1 AED = 13.50 ETB (approximate)
Please note that this rate may change rapidly and may vary depending on the location and the exchange service provider.
Dirham (AED)
The United Arab Emirates Dirham (AED) is the official currency of the United Arab Emirates. It is subdivided into 100 fils. The Dirham is issued by the Central Bank of the United Arab Emirates and is pegged to the US Dollar at a fixed rate of 1 USD = 3.67 AED.
Birr (ETB)
The Ethiopian Birr (ETB) is the official currency of Ethiopia. It is subdivided into 100 cents. The Birr is issued by the National Bank of Ethiopia and is available in denominations of 1, 5, 10, 20, 50, and 100 Birr.
Black Market Exchange Rate
The black market exchange rate is the rate at which currencies are traded outside of the official banking system. In Ethiopia, the black market exchange rate can be higher or lower than the official exchange rate, depending on the demand and supply of foreign currencies. The black market exchange rate is not regulated by the government, and it can be risky to exchange currencies through unofficial channels.
Conclusion
In conclusion, the 1 Dirham to Birr black market exchange rate is subject to fluctuations and may vary depending on the location and the exchange service provider. It is essential to be aware of the current exchange rate and the risks involved in exchanging currencies on the black market. We recommend using official exchange services or licensed exchange bureaus to ensure a safe and secure transaction.
