1 Dubai Dinar Equal to Indian Rupees: An Overview
The United Arab Emirates (UAE) dirham (AED) is the official currency of Dubai, not the Dubai dinar. However, for the purpose of this article, we will assume that the term "Dubai dinar" refers to the UAE dirham.
Exchange Rate: 1 AED to INR
As of the current exchange rate (1 USD = 3.67 AED and 1 USD = 74.83 INR), we can calculate the approximate exchange rate as follows:
1 AED (Dubai dirham) = 20.35 INR (Indian rupees)
Please note that exchange rates can fluctuate frequently, so this rate may not be accurate at the time of reading. It's always best to check with a reliable currency exchange website or service for the latest rates.
Why is Dubai an Important Location for Indian Expats?
Dubai has become a hub for Indian expats due to various reasons:
Economic Opportunities
Dubai offers numerous job opportunities in various sectors, including finance, real estate, tourism, and more. Many Indian companies have set up operations in Dubai, providing employment opportunities for Indian nationals.
Cultural Similarities
Dubai shares cultural similarities with India, making it easier for Indians to adapt to the lifestyle. The city celebrates various Indian festivals, and Indian cuisine is widely available.
Trade Relations
The UAE is one of India's largest trading partners, with bilateral trade valued at over $50 billion. This strong trade relationship has led to an increase in Indian expats moving to Dubai for work and business opportunities.
How to Send Money from Dubai to India
There are various ways to send money from Dubai to India, including:
Bank Transfers
Banks in Dubai, such as Emirates NBD and Dubai Islamic Bank, offer remittance services to India. You can transfer funds from your account to a recipient's account in India.
Money Exchange Services
Companies like Western Union, MoneyGram, and UAE Exchange offer fast and secure money transfer services from Dubai to India.
Online Remittance Platforms
Online platforms, such as Xoom and Remitly, provide a convenient and often cost-effective way to send money from Dubai to India.
Conclusion
In conclusion, while there is no such thing as the "Dubai dinar," the UAE dirham is the official currency of Dubai. The exchange rate of 1 AED to INR can fluctuate, but it is currently around 20.35 INR. Dubai has become a popular destination for Indian expats due to economic opportunities, cultural similarities, and strong trade relations. If you need to send money from Dubai to India, there are various options available, including bank transfers, money exchange services, and online remittance platforms.
