The official currency of Dubai, a city in the United Arab Emirates (UAE), is United Arab Emirates Dirham (AED). AED is the symbol of the currency, and it is also written as Dh or Dhs. Just like the Indian Rupee, the Dirham is also divided into 100 equal parts known as fils. The Arabic Dirham is pegged to the Dollar, and the exchange rate of USD and AED is always 1 USD is 3.67 AED. Between INR and AED, the Dirham is a stronger currency. Read to find out how to convert INR to AED using a currency converter.
How to use INR to Dirhams (AED) currency converter?
Before you understand how to use a currency converter, it is important to know what it is. A currency converter is a tool that helps you calculate the value of your currency in another currency. It helps in converting currencies at the latest exchange rate within seconds, saving you time and energy.
Jupiter's free currency convertor is one such tool. It is simple and easy to use. You can follow the steps below to convert INR to Dirhams at the latest exchange rate within seconds using Jupiter's currency converter.
First, select the currency you want to convert money to. In this case, AED.
Second, enter the amount you want to convert right beside the currency. If you want to convert AED 1 lakh, enter 100000 right beside AED.
The calculator will automatically display the value in INR on the left-hand side and also gives the exchange rate at which it converted AED to INR. So, if you entered AED 1,00,000 in the calculator, the result will be INR 22,72,365.76 as the latest exchange rate at the time of calculation is 1 AED = 22.72 INR.
You can find out the value of any currency in INR using Jupiter's calculator. All you have to do is select the currency from the dropdown. Since the calculator displays the latest exchange rate, you can check the exchange rate of different currencies to INR on the calculator itself.
How to Calculate Indian Rupees (INR) to Dirham (AED)?
To convert INR to AED, you must divide the Indian currency by the exchange rate. Let's understand this with an example. If you want to convert Rs 50,000 to Dirhams, the current exchange rate of AED to INR is Rs 22.72. You will have to divide Rs 50,000 lakhs by 22.72 to get its equivalent value in Dirhams.
AED = 50000/22.72
AED = 2,200.70
Converting a currency into another is quite simple, provided you know the exchange rate. But with exchange rates changing every minute, it can be a cumbersome task. So, it is better to use a currency converter like Jupiter to convert currencies that does that same job in a blink of an eye.
Jupiter’s tool is absolutely free of cost and can be used multiple times for different currencies. Moreover, you can also use the tool to check the latest exchange rate between INR and any other currency.
Can I convert Indian currency (INR) to Dirham (AED) in Dubai?
Yes, you can convert Indian Rupee (INR) to Dirham (AED) in Dubai at the airport or any money exchanger. However, ensure you get the best exchange rate before converting INR to AED. Never convert your money at the airport, as they charge a very high exchange rate. Always go with money exchangers to convert INR to AED. Alternatively, you can also use your international debit card to withdraw cash from ATMs in Dubai. But make sure to check the transaction charges as sometimes some banks charge a hefty fee for an international transaction on a domestic card.
Why is the AED to INR going down?
The Dirham has become stronger than the Indian Rupee by 11% in the last year. The main reason behind the fall Rupee against the Dirham is the Dollar. Since AED is pegged to Dollar, and the Dollar has grown stronger in relation to the Rupee, the Dirham has also increased compared to the Rupee.
A strong Dollar is mainly due to the Fed hiking the interest rates to curb inflation in the country. This resulted in more investments in the US, which increased the demand for Dollars, making it stronger compared to the Rupee. Since Dirham is pegged to the Dollar, the AED INR exchange rate has also increased.
Where to convert INR to AED?
You can convert INR to AED at any bank or money exchanger through offline and online methods. For the offline method, visit a branch of your bank or the money exchanger, fill out the application form, submit proof of identity (usually the PAN), and collect cash from them.
Alternatively, you also load your forex card online by visiting the website of your bank or money exchanger. In the current era of digitization, online transactions are convenient and cheaper. By converting INR to AED online, you can compare the exchange rates of multiple money exchangers to get the best rate.
How come the US dollar to Dirham rate is not changing frequently?
The United Arab Emirates (UAE) pegged its currency to the US Dollar in 1986. Since all oil transactions happen in Dollars, Dirhams were pegged to Dollars. This is the reason why the Dirham hasn't fluctuated a lot.
With US Dollar being the world’s reserve currency, the Gulf countries felt safe pegging their currency to the US Dollar. Pegging to a safe currency improves economic stability and elevates investor confidence. However, the downside is that the exports will be less competitive than other countries.
Frequently Asked Questions
Is Dubai's currency cheaper than India's?
No, the United Arab Dirhams (AED) are not cheaper than the Indian Rupee. The currency rate is between AED and INR 22.51 as of 6th January 2023. This means that to buy one AED, you will have to spend Rs 22.51.
Where can I get the best currency exchange rate for exchanging INR (Indian rupees) into AED (Dirhams)?
Any money exchanger in India will provide a good exchange rate to convert INR to AED. On the other hand, banks will charge a higher rate, so it is best to avoid them.
Is Dubai airport the best place to exchange INR for USD?
Never convert your money at an airport. This is because they charge a higher exchange rate than banks and money exchangers.
Is Indian currency accepted in Dubai?
No, Indian currency is not accepted in Dubai. In 2019, according to a media report, Indian currency was accepted at the Dubai airport. However, there is no news on the same after that.
While going to Dubai from India, is it better to buy USD and get them exchanged with AED in Dubai or is it better to directly exchange INR for AED?
It is always better to carry AED from India while going to the US. You will incur higher transaction and exchange rate charges by exchanging the currency twice. Hence convert your Indian Rupee into AED in India itself before visiting UAE.
How many Dirhams can a person carry on a flight from India to Dubai?
There is no limit on the cash you can carry from India to Dubai in Dirhams. However, if you carry more than AED 10,000 or its equivalent in cash, you will have to declare it at customs.