1 AED to PHP Philippine Peso
1 AED to PHP Philippine Peso
United Arab Emirates Dirham
The United Arab Emirates dirham (Arabic: درهم إماراتي ) code: AED , also known as simply the Emirati dirham, is the currency of the United Arab Emirates. The term dirham is officially abbreviated “AED”, while unofficial abbreviations include “DH” or “Dhs.”. The dirham is subdivided into 100 fils (فلس).
The fils is a subdivision of currency used in many Arab countries, such as Iraq, the United Arab Emirates, Kuwait, and Bahrain. The term is a modern retranscription of fals, an early medieval Arab coin.
Dirham is an Arabic word. Due to centuries of trade and use of currency, the dirham survived through the Ottoman Empire.
Prior to 1966, all the emirates that now make up the UAE used the Gulf Rupee, which was equivalent to the Indian Rupee. On June 6, 1966, India decided to devalue the Gulf Rupee against the Indian Rupee. Not accepting the devaluation, many states that are still using the Gulf rupee adopted their own or other currencies. With the exception of Abu Dhabi, all the tertiary states adopted the Qatari and Dubai riyals, which were equal to the Gulf rupee before the devaluation. During the transition from the Gulf Rupee to Qatar and Dubai Riyals, the UAE briefly adopted the Saudi Riyal. Abu Dhabi used Bahraini Dinar, at the rate of 10 Gulf Rupees = 1 Dinar. In 1973, the UAE adopted the UAE dirham as its currency. Abu Dhabi replaced the Bahraini dinar with the UAE dirham at 1 dinar = 10 dirhams, while the other UAE exchanged Qatari and Dubai riyals equally.