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Money and Banking

These articles cover one of the main aspects of your teaching job abroad: money. We are not financial experts, but based on our experience these are the things that work to save some money while teaching overseas, and bringing the fruits of the hard work back home.

Money and Banking in the UAE

 Let’s start with the basics here. The currency used in the UAE is called the Dirham, with the abbreviation being AED, and is broken into subunits referred to as fils. In other words, one Dirham or AED is equal to 100 fils. Dirham notes come in denominations of 1000,500, 200, 100, 50, 20 and 5 and approximately $1 U.S. is equal to about 3.67 Dirham. Please refer to www.xe.com for current exchange rates.

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