AED to CAD

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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CAD - Canadian Dollar (C$)

The Canadian dollar is the official currency of Canada. It’s the 5th most common reserve currency in the world. The code for the Canadian dollar is CAD and the symbol is $. The currency is issued by the Bank of Canada and printed by the Canadian Bank Note Company in Ottawa. The Canadian dollar is a fiat currency.

The Canadian Dollar (CAD) is the official currency of Canada. The symbol used for the Canadian Dollar is $, or C$ to distinguish it from other dollar currencies. The Canadian Dollar is subdivided into 100 cents.

The Canadian Dollar is the currency in Canada (CA, CAN). The symbol for CAD can be written Can$. The Canadian Dollar is divided into 100 cents. The exchange rate for the Canadian Dollar was last updated on May 22, 2019 from The International Monetary Fund. The CAD conversion factor has 6 significant digits.

Economy

• Canada is rated the 9th largest economy in the world.
• The economy of Canada is wealthy and stable.
• Unemployment rate in Canada is estimated at 7.2%.
• The main industries are chemicals, wood, paper products, food products, minerals, and transport equipment.
• Export products are aircraft, telecommunications, timber, petroleum, crude, electronics, plastics, and machinery.
• Import products are motor vehicles, machinery, equipment, durable goods, electricity, chemicals, and electronics.
• 71% of the GDP is accounted for by the service industry.

History

• The province of Canada adopted the Canadian Pound in 1841.
• In 1851, Canada passed legislation and the pound sterling was introduced.
• In 1853, the gold standard was introduced in Canada.
• Decimal coinage was introduced in Canada in the year 1858.
• The gold standard rate was fixed until 1990.
• In 1867, Canada, Nova Scotia, and New Brunswick united and became the Dominion of Canada. Their three currencies were also united.
• In 1871, Prince Edward Island joined the Dominion of Canada.
• During the First World War the gold standard was abandoned temporarily and was dissolved in 1933.
• The Canadian dollar exchange rate was fixed to the US Dollar at 1.1 CAD = 1 USD during the Second World War.
• In 1949, use of the British Pound was terminated and the Dollar remained pegged to the USD at 1.1 CAD = 1 USD.
• In the 1950s Canada decided to have a floating currency; however, in 1962 the currency became a fixed exchange rate again at 0.925 USD = 1 Canadian Dollar. The peg was kept until 1970.
• After 1970, the Canadian dollar became a floating currency.

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