United Arab Emirates
Foreign Exchange Controls

Includes how foreign exchange is managed and implications for U.S. business;

Last published date: 2019-10-13
The Emirati Dirham (AED, sometimes abbreviated Dhs) has been pegged to the U.S. dollar since 1980.  The mid-point between the official buying and selling rate for the dirham has been fixed at AED 3.6725 per $1 since 1997.  The authorities believe this promotes stability and confidence in the currency.  Interest rates in the UAE tend to parallel those in the United States. 

There are no currency restrictions in the UAE as residents and non-residents are entitled to hold fully convertible off shore or on shore bank accounts in the UAE or overseas in dirhams or in foreign currency.