Multi-currency accounts
Most UAE banks offer accounts in major currencies alongside dirhams, useful for international businesses.
Common currencies
US dollars, euros, pounds sterling and, at some banks, Swiss francs and other currencies.
The dirham peg
The UAE dirham has been pegged to the US dollar at a fixed rate for decades, which makes USD and AED almost interchangeable for business planning.
Considerations
- FX margins and transfer fees vary widely between banks
- Payment providers can supplement banks for lower-cost international transfers
- Some currencies may be subject to correspondent bank restrictions
Common questions
Can I invoice customers in euros from a UAE company?
Yes. Invoicing in foreign currency is common; VAT and accounts are reported in AED at the applicable exchange rate.
Official sources
We check our guidance against these official sources. Always confirm current fees and rules before acting.