AED to GYD

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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GYD - Guyanaese Dollar (GYD)

Guyanaese Dollar

The Guyanese Dollar is the official currency of Guyana, a sovereign state on the northern coast of South America. It is culturally identified with the English-speaking islands of the Caribbean because it was one of the territories, known as British Guiana, of the British West Indies.

The Guyanese Dollar is the currency in Guyana (GY, GUY). The symbol for GYD can be written G$. The Guyanese Dollar is divided into 100 cents. The exchange rate for the Guyanese Dollar was last updated on May 24, 2019 from Yahoo Finance. The GYD conversion factor has 5 significant digits.

Economy

• The main economic activities in Guyana are agriculture (rice and Demerara sugar), bauxite mining, gold mining, timber, and shrimp fishing.
• Chronic problems include a shortage of skilled workers and poor infrastructure.
• The government has juggled a considerable debt and the urgent need to expand public investment, and its fiscal position traditionally erodes when agricultural and mineral commodity prices are low. The country overhauled its tax code in early 2007 with a Value Added Tax (VAT) that is expected to add significant funds for public spending.
• The Guyanese economy has shown moderate economic growth since 1999, thanks to the expansion in the agricultural and mining sectors, a more favorable environment for entrepreneurship, a more realistic exchange rate, low inflation, and the continued support of international organizations.
• Economic growth has slowed as a result of the world recession, but GDP real growth rate continues to be over 3%, according to the CIA World Fact Book.

History

• In the 1800s, like other British West Indies territories, British Guiana used regular British coins, along with 2 and 4 pennies.
• The Guyanan Dollar shares the history of currency with other territories in the British West Indies, with a few exceptions: British Guiana continued to use the four-pence coin mill when other territories abandoned it, and used Dollar accounts in public and private sectors exclusively from 1839 (whereas other territories used a mix of accounts in Dollars and the British Pound until 1951).
• Between 1891 and 1916, four-cent coins were issued specifically for "British Guiana and the West Indies," and between 1917 and 1945 for "British Guiana".
• In 1916, paper money was first issued by the Government of British Guiana, in denominations of 1, 2, 5, 20 and 100 dollars.
• Guyana gained independence from United Kingdom on May 26, 1966, and became a republic on February 23, 1970.
• Banknotes were introduced in 1966 in denominations of 1, 5, 10 and 20 Guyanese Dollars. A second series was issued between 1989 and 1992 in denominations of $20, 100 and 500. The 1996-1999 series added a $1,000 bill. New $100 and $1,000 bills were issued in 2005 with added safety features.

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