UAE money exchange houses revise dirham selling rate
Anticipating a revaluation of the dirham, money exchanges in the UAE have already revised the rates at which they sell local currency against other currencies.
Some have even stopped accepting the US dollar altogether as the market speculated the UAE Central Bank would revalue the dirham on Sunday.
A currency dealer at Hadi Exchange said on Friday night the exchange was not accepting the US dollar until Sunday.
"We think the Central Bank is going to fix the dirham at 3.5 per dollar," he told Gulf News.
UAE Exchange was offering only Dh3.5 for every US dollar. The rate at Thomas Cook (on Friday) was Dh3.25 per dollar, while Wall Street Exchange was not accepting the US currency for selling the dirham. Source
Some have even stopped accepting the US dollar altogether as the market speculated the UAE Central Bank would revalue the dirham on Sunday.
A currency dealer at Hadi Exchange said on Friday night the exchange was not accepting the US dollar until Sunday.
"We think the Central Bank is going to fix the dirham at 3.5 per dollar," he told Gulf News.
UAE Exchange was offering only Dh3.5 for every US dollar. The rate at Thomas Cook (on Friday) was Dh3.25 per dollar, while Wall Street Exchange was not accepting the US currency for selling the dirham. Source
1 comment:
I think the government would revalue the AED at around 3.2 - 3.25. As per your text it is said the AED will be revalued at 3.5. The dollar has depreciated by more than 18-20 % with most of the currencies, so i presume the dollar-Aed will also be accordingly revised.
Post a Comment