The lowdown on the United Arab Emirate Dirham
Economical Influences on the UAE Dirham Exchange Rate
If you are considering converting AUD to AED, It’s good to get a snapshot on how the economy may influence the dirham.
The United Arab Emirates has an open economy with a high income per capita. Diversification of the UAE economy means that they rely less on their oil and gas sectors than many of their neighbouring nations.1
The UAE offers trade-free zones that are popular with foreign investors due to these zones having no taxes imposed, and 100% foreign ownership rights.1
While the price of oil – one of the UAE’s biggest exports – does not directly impact the dirham, fluctuations in oil prices may affect the AED to AUD exchange rate due to changes in relative valuations of the US and Australian dollars.2
UAE Dirham Historical Exchange Rate
The AED has seen a significant shift in value in recent years, improving significantly since 2014.3
Back on 12 July 2014 the NZD was buying 3.23753 AED, but only a few months later on 10 December 2014 the NZD was now buying a significantly lower amount at 2.82604 AED.3
Almost a year later on 6 September 2015 the NZD was worth around 2.30 AED, however a year after that on 8 September 2016 the New Zealand dollar had strengthened against the dirham to equal 2.73598 AED.3
On 11 May 2017, 1 NZD was worth around 2.50 AED; similarly on 2 February 2018 the NZD was worth around 2.17 AED.3
Fluctuating slightly over the next few months, by 9 October 2018, 1 NZD was buying around 2.36897 AED.3
Not much changed in the following months, with the NZD worth around 2.48 AED as of 18 January 2019.3
Exchange rates last updated Tuesday, 23 July 2019 11:33:14 a.m. NZST. The online exchange rates provided by this Currency Converter are intended as a guide only and should not be used for transactional purposes. All rates are subject to change from time to time without notice. Exchange rates used in-store may differ from those offered online. The Travelex online buy rate will be used for conversions from a foreign currency to the local currency. The Travelex online sell rate will be used for conversions from the local currency to a foreign currency.
Travelex Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: Last month
Travelex Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: 3 months
Travelex Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: 6 months
Travelex Historical Rates for conversion of [FromCurrencyIso] to [ToCurrencyIso]: 12 months
How to see Travelex historical rates
If you would like to see Travelex historical rates, please select one of the currencies
1. Central Intelligence Agency - https://www.cia.gov/library/publications/the-world-factbook/geos/ae.html.
2. The Australian Expat Investor - http://www.austexpatinvestor.com/factors-impacting-australian-dollar-uae-dirham-exchange-rate-aed
3. XE - https://www.xe.com/currencycharts/?from=NZD&to=AED&view=5Y
*The information contained in this article has been compiled by Travelex from different different external sources. The figures provided are indicative only and are there to provide an idea of the amount of travel money you may need during your trip. Travelex does not ensure the accuracy and completeness of the information shown. Nothing in this article is to be considered financial advice. Travelex Limited does not accept any liability for any loss or damage derived from any reliance on the information in this article. Travelex NZ Limted arranges for and sells Online Foreign Currency via its Online Ordering Facility. You should consider the Online Foreign Currency Product Disclosure Statement and Terms and Conditions before deciding whether to acquire the product.