AED to CZK

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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CZK - Czech Koruna (Kč)

The Czech koruna is the official currency of the Czech Republic. Koruna is the Czech word for crown. The Czech koruna is often called the Czech crown in English. The code for the Czech koruna is CZK. Its symbol is Kč, placed after the value (e.g. 5 Kč). The koruna is subdivided into 100 haléřů (shortened ‘h’), or, when singular, haléř. (Though due to inflation, haléře are no longer minted.) The Czech koruna is fiat money and is not pegged to the Euro or backed by gold.

The official currency used in the Eurozone is the Euro (EUR). The eurozone consists of the 17 states of the European Union: Austria, Cyprus, Estonia, Portugal, Belgium, Germany, Malta, Portugal, Netherlands, Italy, Ireland, Greece, Luxemburg, France, Slovakia, Spain, and Slovenia. The Euro is second-largest currency that is traded worldwide.

The Czech Koruna is the currency in Czech Republic (CZ, CZE, Czechoslovakia, Ceska, Česko, Ceskych). The Czech Koruna is also known as Korunas, koruna česká, koruny české, korun českých, haléřů, haléř, and haléř. The symbol for CZK can be written Kc, and K. The exchange rate for the Czech Koruna was last updated on Today from The International Monetary Fund. The CZK conversion factor has 6 significant digits.

Economy

• The Euro is seen as a macro-economy system. It gives the countries that are part of the eurozone economical stability.
• Trade industry increased by 5% since the implementation of the Euro.
• Exchange rate risk is reduced for all the countries in the eurozone.
• Most countries also experienced a reduction in interest rates.
• Tourism in the EU countries has also increased by 6.5% because of the common currency.
• The euro is rated as a major reserve currency and is in the same league as the Japanese Yen, US Dollar, British Pound, and Swiss Franc.
• The exchange rate for the Euro is a floating or flexible rate.

History

• In 1992, the Euro was established by the Maastricht Treaty.
• Strict rules were given to the member states before they could become part of the eurozone. Two countries were exempt from the rules–the United Kingdom and Denmark.
• The name was established in 1995, when the Euro replaced the “European currency unit”.
• In 1998, the European Commission determined the rates according to the European currency unit, which equaled 1 Euro. The EU used the European currency unit as an accounting unit, based on the member states’ currencies.
• The Euro unofficially replaced the European currency unit in 1999. In 2002, all old currencies were discontinued and replaced by the new Euro notes and coins. Member countries discontinued their old notes and coins at a different times.

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