AED to CUC

AED - United Arab Emirates Dirham (د.إ.‏)
CUC - Cuban Convertible Peso (CUC)
1 AED1 CUC

Currency conversion rates from AED to CUC

AEDCUC
1 AED1 CUC
5 AED5 CUC
10 AED10 CUC
20 AED20 CUC
50 AED50 CUC
100 AED100 CUC
250 AED250 CUC
500 AED500 CUC
1000 AED1000 CUC
2000 AED2000 CUC
5000 AED5000 CUC
10000 AED10000 CUC
CUCAED
1 CUC1 AED
5 CUC5 AED
10 CUC10 AED
20 CUC20 AED
50 CUC50 AED
100 CUC100 AED
250 CUC250 AED
500 CUC500 AED
1000 CUC1000 AED
2000 CUC2000 AED
5000 CUC5000 AED
10000 CUC10000 AED

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.

More information about AED - United Arab Emirates Dirham (د.إ)


CUC - Cuban Convertible Peso (CUC$)

Cuban Convertible Peso

The Cuban Convertible Peso (CUC) is one of two currencies used in Cuba. The other currency is simply called the Cuban Peso and has been in limited use since 1994. Retail stores and other businesses mainly use the Cuban Convertible Peso. The Convertible Peso can only be exchanged in Cuba itself. It is pegged to the US Dollar at par. The Convertible Peso is rated as the strongest Peso currency, as well as the 10th highest currency worldwide.

The Cuban Convertible Peso is the currency in Cuba (CU, CUB). The exchange rate for the Cuban Convertible Peso was last updated on Today from The International Monetary Fund. The CUC conversion factor has 6 significant digits.

Economy

  • Cuba’s economy is run by the state and seen as a planned economy.
  • The majority of the labor force works for the government. The unemployment rate is 1.7%.
  • Services account for 74% of the total GDP.
  • Top industries are tobacco, petroleum, steel, cement, pharmaceuticals, construction, nickel, agricultural machines, and sugar.
  • Export products are tobacco, shellfish, coffee, citrus, and medical products.
  • Import products are chemicals, equipment and machinery, food, and petroleum.
  • Cuba recently started attracting world-class pharmaceutical and biotechnology industries.
  • 80% of Cuba’s food is imported.
  • Tourism is growing rapidly, however the retail sector in Cuba is poorly run.
  • The Netherlands is the largest importer of Cuban products.

History

  • In 1994, the Cuban Convertible Peso was introduced alongside the existing Cuban Peso.
  • Until 2004, Cuba used the Peso (CUP) for non-luxury items and staples; the Convertible Peso and the US Dollar were used mainly in the tourism trade and for luxury items.
  • In 2004, the USD was take off the market due to sanctions. A 10% tax was charged for converting USDs to convertible pesos. This tax does not apply to any other currency.
  • In 2011, Cuba pegged the Convertible Peso to the USD at par.

More information about CUC - Cuban Convertible Peso (CUC$)