CAD to AED Exchange Rate
Ahh, the United Arab Emirates. Where else can you get police who drive Lamborghinis and gold bars dispensed from an ATM?
What influences the CAD/AED exchange rate?
Like many Gulf currencies, the United Emirates dirham (AED) is pegged to the U.S. dollar (USD). Since 1997, the AED has been pegged to the U.S. dollar at a fixed rate of 3.6725 dirhams to 1 USD. This means that the CAD/AED exchange rate will move in tandem with USD fluctuations.
The Canadian dollar (CAD) works under a floating exchange rate regime. Factors that might influence CAD’s value include commodity prices, interest rates, and inflation rates.1
“The UAE is Canada’s largest export market in the Middle East and North Africa, and is Canada’s 15th largest export market globally.” – Embassy of Canada to the United Arab Emirates2
- In 2015, Canada was ranked 10th in GDP, while the United Arab Emirates ranked 30th.3
- In 2015, Canada was the 11th largest exporter and 10th largest importer in the world.4 The United Arab Emirates was the 30th largest exporter and the 19th largest importer.5
- Canada’s top exports include cars, crude petroleum, refined petroleum, vehicle parts, and planes, helicopters, and spacecraft. Its main imports include cars, vehicle parts, refined petroleum, delivery trucks, and crude petroleum.4
- The UAE’s top exports include crude petroleum, refined petroleum, petroleum gas, diamonds, and gold. Its main imports include jewellery, gold, cars, broadcasting equipment, and planes, helicopters, and spacecraft.5
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Currency Name: United Arab Emirates Dirham
Currency Code: AED
Currency Symbol: فلس
Central Bank: Central Bank of the United Arab Emirates
Countries Used In: United Arab Emirates
Major Unit: One Dirham
Minor Unit: One File
Note Denominations: Dirham 5, 10, 20, 50, 100, 200, 500, 1,000
Coin Denominations: 1, 5, 10, 25, 50 files. 1 Dirham
AED to CAD exchange rate analysis. Check out our daily market analysis to learn the factors influencing the AED to CAD exchange rate today.