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If you are the sort of person who would like to look at exchange rates thoroughly before deciding on your vacation destination, then the United Arab Emirates is certainly worth your consideration now.

Really there's never been a better time for somebody to buy UAE dirhams online so that you can visit this famous destination situated in the southeast of the Arabian Headland in Southwest Asia on the Persian Gulf, bordering Oman and Saudi Arabia and sharing sea borders with Iran, Iraq, Kuwait, Bahrain and Qatar.

All time best rate
From a recent high of 6.1417 to the UK pound in April 29th this year, by September 14th 2011 the UAE Dirham was exchanging at a low of 5.9711 to the pound. In other words the pound has appreciated against the Dirham by just about 3 %.

It is important to appreciate this serious climb by comparing the performance of the Dirham to other major world currencies, most significantly the US greenback. The UAE Dirham exchange rate against the US greenback has remained almost unvaried during the past 12 months or so. If we inspect it from a broader viewpoint, between 1988 and 2011 the US Dollar versus the UAE Dirham exchange rate averaged 3.67 topping at highs of 3.68 in October 1993 and dipping to an all time low of 3.66 in July of 1992.

This is in sharp contrast to the buoyancy of the English pound against the UAE dirham.

What Does AED mean?
Really the generally used currency shortening for the UAE Dirham is AED which stands for Arab Emirates Dirham. The dirham is made from 100 fuloos. Fuloos is in fact plural for fils. The symbol most widely used to represent this currency is Dhs or DH.

The UAE Dirham isn’t just the currency of Dubai but also of the other Emirates. Clearly Dubai is the most famed emirate thanks to the unique niche in world trading this port has created for itself. However few Britons realize that the United Arab Emirates is neither a constitutional monarchy nor a republic but is rather a federation of 7 monarchies whose individual rulers retain conclusive power within their emirates. Usually the 7 emirs choose one amongst themselves to be president of the federation. This is an important piece of background info to help any person appreciate the wide acceptability of this currency over a slightly wide area of jurisdiction.

History of the UAE Dirham
The dirham was actually introduced in 1973 to replace one or two currencies that were being used in the varied Emirates at the time. As an example the Dubai Riyal that was in use in Dubai at the time and the Qatar riyal which was the currency in neighboring Qatar. On Jan 28th 1978 the dirham was officially attached to the US dollar at one buck to 3.6725 dirhams and as we have seen earlier in this piece has constantly stayed roughly untouched.

Richard Jones is a regular traveller to Dubai. He always interested in the most recent travel money exchnage rates and is happy that he found FairFX.