Converting from UAE Dirham (AED) to Maldives Rufiyaa (MVR)

What is UAE Dirham (AED)

The UAE Dirham, abbreviated as AED, is the official currency of the United Arab Emirates. It is subdivided into 100 fils. The Dirham has been in use since the establishment of the UAE in 1971, and it replaced the Qatar and Dubai riyal at that time. The currency code "AED" stands for "United Arab Emirates Dirham."

The Dirham is pegged to the US dollar at a fixed rate of approximately 3.67 AED to 1 USD. This peg provides stability to the currency, which is particularly beneficial for trade and tourism. The symbol typically used for the Dirham is “د.إ.” However, in international markets, symbols such as "DH" or "DHs" are also used. The banknotes are available in denominations of 5, 10, 20, 50, 100, 200, 500, and 1000 Dirhams.

The coins come in denominations of 1, 5, 10, 25, 50 fils, as well as 1 and 5 Dirhams. The UAE Dirham is widely accepted in various sectors of the economy, making it a vital currency for both locals and tourists. The currency plays an essential role in trade and investment, especially as the UAE is considered a financial hub in the region.

What is Maldives Rufiyaa (MVR)

The Maldives Rufiyaa, represented by the currency code MVR, is the official currency of the Maldives, an island nation in the Indian Ocean. Its symbol is "Rf" for the currency and "ރ" in the local script, Dhivehi. The Rufiyaa is subdivided into 100 laari.

The Maldivian economy heavily relies on tourism, with the Rufiyaa serving as the primary medium for transactions in hotels, restaurants, and shops throughout the country. The currency has experienced fluctuations due to various economic factors, including tourism trends and global economic conditions.

To provide stability, the Maldives Central Bank manages the Rufiyaa's value against major currencies, including the US dollar. As of now, the exchange rate can vary, so it is crucial for travelers to check the current rate when planning their trips.

The Rufiyaa is issued in banknotes of 20, 50, 100, 500, and 1000 Rufiyaa, and coins come in denominations of 1, 2, 5, 10, 25, and 50 laari as well as 1 and 2 Rufiyaa coins.

Converting AED to MVR

When converting from UAE Dirham (AED) to Maldives Rufiyaa (MVR), it is important to know the current exchange rate. You can use the following formula for conversion:

Amount in MVR = Amount in AED × Current Exchange Rate (AED to MVR)

By keeping an eye on the latest rates and using reliable currency exchange services, travelers can ensure that they get the best value during their trips to the Maldives.