While it’s more convenient to pay with cash in some countries, you can easily use your credit card in others. That’s why, to plan an effective and convenient journey, it’s always important to know the currency, exchange rates, and popular payment methods in the country you’re going to visit as a tourist.Read below our comprehensive guide to money in Dubai. Learn whether it’s better to pay with cash or credit card, where and how to exchange money, and find answers to your questions. Keep reading the list until the end, and start planning a stress-free trip to Dubai!

Table of contents
Guide to money in Dubai - What's the currency in Dubai

What is the currency in Dubai?

Dirham, shortened to AED (United Arab Emirates Dirham) is the currency of Dubai and the other UAE cities. Global financial markets determine the exchange rate between the dirham and the major currencies like the US dollar, British pound, and Euro. The approximate exchange rates as of the most recent update are: 

  • 1 US Dollar (USD) = 3.67 AED
  • 1 British Pound (GBP) = 4.58 AED
  • 1 Euro (EUR) = 3.95 AED

⁤These rates may change slightly based on the exchange financial service and the state of the market on a given day. Before making any transactions, it’s a good idea to check the most recent rates on a forex trading platform or through a reputable financial news source. Here are some of the reliable currency exchange platforms you can use:

  • XE
  • OANDA
  • Wise
  • Revolut
  • Al Ansari Exchange
Guide to Money in Dubai - is it better to pay by cash or credit card in dubai

Is it Better to Pay by Cash or Credit Card in Dubai?

In Dubai, credit cards are widely used and cash is mostly not necessary at all. You can use credit cards even in small businesses and taxis, which is convenient because credit cards often provide the best exchange rates without any commission. 

However, it would still be wise to carry some cash for smaller purchases, such as items from the souks or smaller vendors. While most places accept credit cards or digital payments, some local markets or street foods may require cash.

Guide to money in Dubai - Where to exchange money in Dubai

Where to Exchange Money in Dubai?

  • To exchange money in Dubai, you can choose a bank in your country that offers zero commission on payments made abroad. This could be Boursorama in France, Starling Bank in the UK, Charles Schwab Bank in the US, and DKB in Germany.
  • If you don’t want to change your bank, you can consider opening an online account with a bank designed for travelers. In the UK, Monzo is a good option, while Wise and Revolut are popular in the USA and internationally. N26 is available in Germany and other European countries; additionally, there are also other global banks that you could use, such as HSBC and Citibank. These banks typically offer good exchange rates and lower fees, ideal for international travelers who want to exchange money in Dubai.
  • If you want to exchange cash, you can look for currency exchange offices in shopping malls, as they provide competitive rates. For example, seek out specific exchange branches that are known for offering better rates in Dubai Mall, such as Al Ansari and Al Fardan. Additionally, IBN Battuta Mall, Marina Mall, and Deira City Centre feature various exchange offices where you can negotiate the exchange rates.
Guide to Money in Dubai - FAQ about money in Dubai

FAQ About Money in Dubai

No, the Cash App is not available in any country other than the US and UK, so you cannot use it in Dubai.

To send money to Dubai from the US, you can use money transfer apps, such as the Wise, Revolut, Western Union, and other similar transfer platforms. 

Dubai taxis accept credit cards and you can pay with cash and debit/credit card. However, some taxi drivers may ask you to pay in cash, saying that the device is not working. In this case, you can request to make the payment via QR code.

Yes, credit cards are widely used in Dubai and, even in taxis and small shops. However, carrying some cash is recommended, just in case. 

Due to the competitiveness of the many exchange services available, it's usually better to exchange money in the country you're visiting, especially when converting pounds to UAE dirhams. However, if you want to exchange money before your departure, it may be ideal to do so in smaller amounts.

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