AED to ISK

AED - United Arab Emirates Dirham (د.إ.‏)
ISK - Icelandic Króna (ISK)
1 AED1 ISK

Currency conversion rates from AED to ISK

AEDISK
1 AED1 ISK
5 AED5 ISK
10 AED10 ISK
20 AED20 ISK
50 AED50 ISK
100 AED100 ISK
250 AED250 ISK
500 AED500 ISK
1000 AED1000 ISK
2000 AED2000 ISK
5000 AED5000 ISK
10000 AED10000 ISK
ISKAED
1 ISK1 AED
5 ISK5 AED
10 ISK10 AED
20 ISK20 AED
50 ISK50 AED
100 ISK100 AED
250 ISK250 AED
500 ISK500 AED
1000 ISK1000 AED
2000 ISK2000 AED
5000 ISK5000 AED
10000 ISK10000 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)


ISK - Icelandic Króna (kr)

Icelandic Króna

The Krona is the official currency of Iceland, a island country in the North Atlantic Ocean, situated over the Mid-Atlantic Ridge. The island is volcanically and geologically active because it straddles the spreading boundary of the North American and European tectonic plates. The capital and largest city is Reykjavík, with the city’s surrounding areas in the southwest region of the country home to two thirds of the country’s population.

The Icelandic Krona is the currency in Iceland (IS, ISL). The Icelandic Krona is also known as Kronas. The symbol for ISK can be written IKr. The Icelandic Krona is divided into 100 aurar. The exchange rate for the Icelandic Krona was last updated on January 18, 2019 from The International Monetary Fund. The ISK conversion factor has 6 significant digits.

Economy

  • Except for its abundant hydroelectric and geothermal power, Iceland lacks natural resources.
  • Historically, Iceland depended heavily on fishing, which still provides 40% of export earnings and employs 7% of the workforce despite declining fish stocks.
  • Abundant hydro-electric capacity has allowed Iceland to encourage power-intensive industries, including aluminium and ferro-silicon smelting plants.
  • In the 1990s, Iceland introduced extensive free market reforms and as a result gained some of the world’s highest ratings for economic and civil freedoms and egalitarianism, and was applauded for its strong economic growth and rapidly expanding financial system.
  • By 2007, the country was ranked: seventh in the list of the world's most productive countries per capita, at U.S. $ 54,858; and fifth in GDP purchasing power parity ($ 40,112). That same year it topped the list of nations ranked by Human Development Index (HDI).
  • As early as 2006, Iceland’s economy was facing problems of growing inflation and current account deficits, partly as a result of the earlier free market reforms. In 2008, the financial system collapsed entirely in a sweeping financial crisis precipitated by bank failures. Iceland had to obtain emergency funding from the International Monetary Fund and a range of European countries in November 2008.

History

  • The Króna is composed of 100 aurar, although coins in any denomination less than one króna have not circulated since 2003.
  • The Danish Krone was introduced in Iceland in 1874, replacing the earlier Danish currency, the rigsdaler. In 1885, Iceland began to issue its own banknotes.
  • The Iceland Króna was issued separate from the Danish Krone after the dissolution of the Scandinavian Monetary Union at the beginning of World War I, and Iceland’s autonomy from Denmark in 1918.
  • The first coins were issued in 1922, in denominations of 10 and 25 aurar. These were followed in 1925 by 1-króna and 2-krónur coins, and in 1926 by 1-eyrir, 2-aurar and 5-aurar coins.
  • In 1946, the design of all coins was altered to remove the royal monogram, after Iceland's independence from Denmark was precipitated by Denmarks’ occupation by Nazi Germany.
  • In 1981, the Iceland Krona was revalued, with 100 old krónur (ISJ) valued at 1 new Iceland Krona (ISK).
  • In 1981, coins were introduced in denominations of 5, 10 and 50 aurar, 1 króna and 5 krónur. These were followed by 10 krónur pieces in 1984, 50 krónur in 1987 and 100 krónur in 1995.
  • As of 1 October 2003, Icelandic banks no longer accepted the 5, 10 and 50 aurar coins.

More information about ISK - Icelandic Króna (kr)