As an expat in Dubai, knowing where the dirhams stands against other currencies is vital if you’ve still got links back home, wherever that might be. And, if you’re looking to send the kids to school abroad or buy property back home, your currency awareness needs to be peaking!
Here’s an at-a-glance summary of the movement of the dirham’s major currency pairs in the last 180 days:
Dirham – pound sterling
On Tuesday 2 May, 2017, the pound closed at Dh4.739, while at 28 October, it was Dh4.813 – only up 1.5%. But between then it reached a depth of Dh4.64 (21 June) before a peak six weeks ago (16 September) of Dh4.99.
Dirham – Euro
The Euro has enjoyed a general line graph arc of strengthening against the UAE currency over period. On Tuesday 2 May, 2017, the Euro closed at Dh4, while at 28 October, it was Dh4.262 – that is up 6.5%. But between then it reached a peak of Dh4.42 (8 September), resounding against the 11 May trough of Dh3.99.
Dirham – (Indian) rupee
The two currencies were coasting like bedfellows in the last 180 days, if it weren’t for that dastardly third week of September. On Tuesday 2 May, 2017, the rupee closed at Dh0.057 while at 28 October, it was Dh0.0566 – the rupee only falling 1.7%, therefore.
But a peak of Dh0.0576 on 3 August and a sequential coast led to a fall from 19 September to Dh0.0558 on 27 September. It has strengthened overall since.
Dirham – Philippine Peso
From Tuesday 2 May, 2017, the peso stood at Dh0.073. Thirty-four days later this was at a peak of Dh0.0736 while at 28 October, it was Dh0.071– just off the bottom of Dh0.0707 from a few days before. More than a 100 days slump for the peso.
Dirham – CA$
Another big surge up for the Canadian dollar to the first week of September, then a drop and an overall decline. The currency at Tuesday 2 May, 2017 stood at Dh2.68, only to reach a short-term peak of Dh2.952 on 29 July, then up to Dh3.03 on 8 September. It has fallen since to a two-month low of Dh2,85, before the merest hint of rebound since 26 October.
Dirham – AU$
Where Canada leads, Australia hasn’t been too far behind in the last 180 days. On Tuesday 2 May, 2017, the Aussie closed at Dh2.76, before a depth of Dh2.7 for the period. It then had a rampant rise to Dh2.93 to 27 July, and another to Dh2.96 on 8 September, since falling to Dh2.8 then hinting at a rebound.