200 Dirhams (Emirati Dirham)

In the UAE, there is a popular saying that goes, “If you have 200 dirhams, you are rich.” This saying is often used to describe the high cost of living in the country. While it is true that the cost of living in the UAE is relatively high, there are ways to stretch your dirhams and make your money go further.

What is the 200 Dirhams (Emirati Dirham)

The 200 Dirhams is a type of Emirati Dirham, which is the currency of the United Arab Emirates. It is divided into 100 fils and is subdivided into 1000 dirham. The 200 Dirhams note was first introduced in 1973 and has been in circulation ever since. It is currently the highest denomination of Emirati Dirham in circulation.

Pros and Cons of a 200 Dirham

The Emirati Dirham is the official currency of the United Arab Emirates. The dirham is subdivided into 100 fils and is also abbreviated as AED. The name dirham comes from the Greek word drachmae, which was used as currency in the Roman Empire and also refers to a weight unit.

The dirham has been pegged to the US Dollar since 1997 at a rate of 1 USD = 3.6725 AED. This peg is managed by the Central Bank of UAE through a monetary policy committee. The dirham is also widely accepted currency in neighboring countries such as Saudi Arabia, Kuwait, and Qatar.

Pros:
-The dirham is pegged to the US dollar, so it’s relatively stable compared to other currencies in the region.
-The Dirham is widely accepted in neighboring countries.
-UAE has very little inflation, so your money goes further here than in other parts of the world.
-There are no restrictions on foreign currency exchange or bringing money into or out of the country.

Cons:
– Because it’s pegged to the US dollar, the dirham can lose value if the dollar weakens.
-Some businesses only accept cash, so you may need to carry around large amounts of dirham with you if you’re planning on doing a lot of shopping or sightseeing.

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Conclusion

The 200 Dirhams is a great way to save money on your groceries. With this card, you can get discounts on your groceries, which can help you save a lot of money. The card also comes with a lot of benefits, such as free delivery and cash back. If you are an Emirati citizen, then I highly recommend that you get this card.