AED to ARS

AED - United Arab Emirates Dirham (د.إ)

The United Arab Emirates dirham is the currency of the United Arab Emirates. The dirham is abbreviated by the currency code AED, and its symbol is د.إ. Unofficial abbreviations include ‘Dhs’ and ‘DH’. The most popular AED exchange is with Indian rupees (INR to AED). The dirham is a fiat currency, and its conversion factor has 6 significant digits.

The Dirham (AED) is the currency of the United Arab Emirates. 1 Dirham = 100 fils. Exchange can be done at a bank, but is less costly at an exchange office. The United Arab Emirates Dirham was pegged to the IMF’s drawing rights in 1978. In 1997 the Dirham was pegged to the US Dollar at 1 USD = 3.6725 dirham.

The United Arab Emirates Dirham is the currency in United Arab Emirates (AE, ARE, UAE). The symbol for AED can be written Dh, and Dhs. The United Arab Emirates Dirham is divided into 100 fils. The exchange rate for the United Arab Emirates Dirham was last updated on Today from The International Monetary Fund. The AED conversion factor has 6 significant digits.

Economy

• The United Arab Emirates is ranked second in the Corporation Council for the Arab States of the Gulf (CCASG).
• Natural gas and petroleum exports play an important role in the economy.
• The service sector is also an important source of income.
• Construction forms a huge part of the economy; there is currently an average of $350 billion in construction projects.
• The United Arab Emirates is part of the World Trade Organization.
• Imports are machinery, manufactured goods, and transport equipment.
• In 2009, 85% of exports were natural resources.
• The United Arab Emirates has the fastest-growing economy in the world.

History

• The original currency in the United Arab Emirates was the Bahraini Dinar.
• Before 1966 the United Arab Emirates used the Gulf Rupee.
• The United Arab Emirates dirham started circulating in December 1971. The dirham replaced the Dubai Riyal as well as the Qatar Riyal at par.
• From 1973 to 1982 the United Arab Emirates issued the Dirham.
• In 1976 the United Arab Emirates minted commemorative coins.
• In the late 1980s a fixed rate was established between the Dirham and the USD.
• 200-dirham denominations were produced only in 1989 and are scarce; however, the 200-dirham was re-introduced in May 2008 in a different color from the original.
• In 1997 the Dirham was pegged to the US Dollar.

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ARS - Argentine Peso ($)

Argentine Peso

The Argentine Peso (ARS) is the currency unit for Argentina. The Peso symbol is the same as the dollar sign ($). The Peso is subdivided into centavos; 1 Peso = 100 centavos. The previous currency of Argentina was also called the Peso; however, the currency evolved and fewer zeros are currently being used.

The Argentine Peso is the currency in Argentina (AR, ARG). The symbol for ARS can be written $. The Argentine Peso is divided into 100 centavos. The exchange rate for the Argentine Peso was last updated on May 24, 2019 from Yahoo Finance. The ARS conversion factor has 5 significant digits.

Economy

• Before 1826, the Spanish silver eight-real coin was named the Peso. After Argentina became independent, the country started using new coin denominations: Escudos, Soles, and Reales. The coins were in circulation until 1881.
• From 1881, to 1969 the silver and gold Pesos were introduced. The gold coin denominations were 2½ and 5 Pesos, the silver coins were 5, 10, 20, and 50 centavos, as well as 1 Peso, and the copper coins were 1 and 2 centavos.
• From 1970 to 1983, the "Peso Ley" replaced the previous peso; 1 Peso Ley = 100 Pesos Nacionale.
• From 1983 to 1991, the Peso was replaced by the previous currencies.
• In 1992, the last Peso was introduced and is referred to by the international market as the Peso Convertible. A fixed exchange rate was established between the Central Bank of Argentina and the United States Dollar at a rate of 1 USD = 1 Peso. The agreement expired in 2001.
• After 2001, the fixed agreement with the USA expired, and since 2002, the exchange rate has been fluctuating.

History

• Argentina’s economy is rated as a higher middle economy.
• The economy is sustained by the abundance of natural resources, a diverse industry base, and an export-focused agricultural program.
• During the early twentieth century Argentina was considered the richest country in the southern hemisphere.
• The top industries are appliances, electronics, textiles, beverages, furniture, printing, chemicals, pharmaceuticals, motor vehicles, and food processing.
• Export products are soybeans, natural gas, aluminum, steel, refined fuel, machinery, vegetable products, and other industry products.
• Import products are mainly capital goods, consumer durables for the automotive industry, freight vehicles, lubricants, and refined fuel.

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