AED to ETB

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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ETB - Ethiopian Birr (Br)

Ethiopian Birr

The official currency of Ethiopia is the Ethiopian Birr (ETB). The Ethiopian Birr is subdivided into santim; 100 santim = 1 ETB. Br is the symbol used for the Birr. The Nigerian Naira is rated the most-used currency in Africa, the Birr is rated second.

The Ethiopian Birr is the currency in Ethiopia (ET, ETH). The Ethiopian Birr is also known as Birrs. The symbol for ETB can be written Br. The Ethiopian Birr is divided into 100 cents. The exchange rate for the Ethiopian Birr was last updated on May 24, 2019 from Yahoo Finance. The ETB conversion factor has 3 significant digits.

Economy

• Ethiopia’s economy is mainly based on the agricultural industry, which forms 80% of the yearly GDP.
• There are no private businesses and no patent laws apply in Ethiopia.
• Unemployment rate among youth is estimated at 70%.
• The main industries are metals, cement, textiles, food processing, and cement.
• Export products are leather, oilseeds, coffee, flowers, gold, qat, and live animals.
• Import products are motor vehicles, textiles, cereals, petroleum, food, and chemicals.

History

• During the 18th and 19th centuries the currency for Ethopia was the Maria Theresa Taler, also known as the Birr, which means silver. The Taler became the official coin in 1855, but the Indian Rupee and the Mexican Dollar were used for foreign trading.
• In 1893, the Birr was introduced as the standard unit. It was subdivided into 20 girsch.
• A new range of Ethiopian coins appeared in 1903.
• The Bank of Ethiopia was formed in 1931. At that time the Birr became equal to the mentonnyas. 1 Birr = 100 metonnyas.
• During the mid 1930s the currencies circulated were the Birr and the Talari.
• From 1936 to 1941 Italy occupied Ethopia and the Italian Lira was used.
• In 1945, the second Birr was introduced; 2 schillings = 1 birr.
• In 1976, the Birr was made the official currency.

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