1 Euro to Dirham UAE
Exchange Rate
As of the current date, the exchange rate from 1 Euro (EUR) to United Arab Emirates Dirham (AED) is approximately 4.37 AED. This exchange rate may fluctuate depending on various economic factors, such as inflation rates, interest rates, and political stability.
History of the Exchange Rate
The exchange rate between the Euro and the UAE Dirham has been relatively stable over the years. In the last 10 years, the highest exchange rate was 4.63 AED in 2017, while the lowest was 3.97 AED in 2012.
Why is the AED Pegged to the USD?
The UAE Dirham is pegged to the United States Dollar (USD) at a fixed rate of 1 USD = 3.67 AED. This fixed exchange rate has been in place since 1997, providing stability and consistency to the UAE economy. The pegging of the AED to the USD helps to maintain low inflation and attract foreign investment.
Benefits of the Fixed Exchange Rate
The fixed exchange rate between the AED and the USD has several benefits, including:
- Stability: The fixed exchange rate provides stability and consistency to the UAE economy, making it an attractive destination for foreign investment.
- Low Inflation: The pegging of the AED to the USD helps to maintain low inflation rates, which benefits consumers and investors alike.
- Predictability: The fixed exchange rate makes it easier for businesses to predict their revenues and expenses, allowing them to make informed decisions.
How to Convert 1 Euro to AED
To convert 1 Euro to AED, you can use the current exchange rate of 4.37 AED. You can also use online currency converters or visit a currency exchange office to convert your Euros to AED.
Remember to always check the current exchange rate before converting your currency to get the best rate.
