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 AED/USD exchange rate?
Like many Gulf currencies, the United Emirates Dirham (AED) is pegged to the U.S. dollar. Since 1997, the AED has been pegged to the dollar at a fixed rate of 3.6725 dirhams to 1 USD. That means the AED/USD exchange rate does not fluctuate, however the value of the AED will move in tandem with USD fluctuations when compared to other currencies.
The only thing that can influence the USD/AED exchange rate is a change in fiscal policy from the UAE’s Central Bank.
The U.A.E. plays an influential role in the Middle East, and is a key partner for the United States. The United States and the U.A.E. enjoy strong bilateral cooperation on a full range of issues including defense, non-proliferation, trade, law enforcement, energy policy, and cultural exchange. The two countries work together to promote peace and security, support economic growth, and improve educational opportunities in the region and around the world. U.A.E. ports host more U.S. Navy ships than any port outside the United States.
--US Department of State
The UAE’s major exports are petroleum products and gold with 85% of its exports headed for Asia.3
The export portfolio of the U.S.A. is very diverse and includes petroleum, machines, cars, chemicals and medications, agricultural products and metals.4
The U.S. provides Export and Border Security assistance to the UAE.5
Dubai is home to the world’s tallest building: the Burj Khalifa. At 828 meters high, the Burj Khalifa opened in 2010 and took just six years to complete.
For a more general discussion about exchange rate forecasting and macroeconomic factors to consider, check out this article.
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