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Where to Exchange Foreign Currency in Dubai?

Money growing

If you are moving to Dubai from a foreign location for the first time, one of your foremost concerns will be finding a place to exchange your money. A nearby currency exchange place is not only convenient but also cost-effective, as it helps you save extra cash. 

Thankfully for you, Dubai has no lack of options for places to exchange currency. You have your classic and reputable exchange houses to begin with, which are extremely popular and often the go-to option for many. Apart from those, from airports to malls, from hotels to ATMs, you will never run out of options to exchange money in this emirate. 

Irrespective of whether you are visiting Dubai for business or leisure, locating a suitable place to exchange money shouldn’t be a problem if you know exactly where to look. Each place has its own merits and demerits, and the choice to pick a place often boils down to individual preferences. 

Exchanging money in any foreign location is a foundational part of any travel experience. By making a wise decision about your choice, you can secure the best value for your currency and have more to spend in the city. 

This is why we want to help you make proper plans for your money exchange processes and avenues. In this guide, we are going to explore all the varied options available to you to exchange money in the city. Everything that you need to know about currency exchange in Dubai, we are going to cover it here. This is your one-stop guide to money exchange avenues in Dubai. So, follow through!

Currency Exchange in Dubai

Being aware of the right place to exchange your money in a foreign city can save a lot of effort, time, and even some cash. If you are planning to visit Dubai or have just arrived in the city, you need to acquaint yourself with places where you can find competitive rates for exchanging your hard-earned money. 

Fortunately, you will find plenty of reliable and convenient options for exchanging currency. Essentially, don’t be overwhelmed when it comes to money exchanges in Dubai. With organised planning, you can seamlessly get this done while enjoying the beauty that this emirate has to offer. 

Over the years, the Government of the UAE has put in place several regulations to safeguard the currency exchange process in the country. This ensures your money is exchanged securely and transparently, without any hassle, thereby offering you the much-needed peace of mind. 

To start, if you are landing in Dubai at an odd hour, we recommend you seek the 24/7 exchange bureaus and ATMs present at the Dubai International Airport. It will be the most convenient way to obtain UAE Dirhams (the currency in the UAE), no matter what time of day it is. 

In addition, there are countless ATMs all across the city that serve as an alternate source for you to exchange your currency. These are ideal for those who prefer to withdraw cash using their international cards. However, keep in mind that this might incur certain fees. 

Furthermore, there are exchange houses that ensure easy and hassle-free processes and fair rates. On top of that, several hotels in Dubai provide currency exchange services, but keep in mind that these tend to feature less favourable rates compared to the dedicated exchange houses. 

Reputed exchange houses such as Al Fardan Exchange, GCC Exchange, or the Al Ansari Exchange, among others, are known for their convenience and reliability, and the best part is that their branches are available across all the popular areas of the city. 

How Do I Find a Currency Exchange Near Me?

If you are not in a rush, then the best route to follow for exchanging currencies in Dubai is to start by comparing rates between various exchange sources. As we stated earlier, you can start by exchanging your currency at the Dubai International Airport before heading into the city. These are functional throughout the day, giving you more flexibility.

In addition, you will come across several malls in the emirate where you will find currency exchange options. Since they have long operational hours, you can get services for most parts of the day. 

Obviously, the exchange houses in the city offer the most reliable and fair options to exchange money, and their popularity never ceases to fade. But whatever option you choose, make sure that you are getting fair rates. 

You may use your map app to spot the nearest currency exchange place. If you are staying in a hotel, you may consult with the hotel concierge for recommendations. But, remember that most hotels offer poorer rates than other currency exchange sources. 

Where to Exchange Currency in Dubai International Airport?

If you are arriving in the city at an odd hour, then the most convenient option for you to exchange your currency will be the Dubai International Airport. For better accessibility, authorities have placed currency exchange options in every single terminal. So it doesn’t matter which terminal you are at, you will easily find an exchange bureau near you. 

Travelex is one of the most popular exchange bureaus, and you will find its branches all across the airport. You will also find several multi-currency exchange counters in Terminals 1 and 3. All of these are functional 24/7 for seamless service. The Al Ansari Exchange is also another popular money exchange spot in the airport. 

Furthermore, you can simply withdraw money in Dirhams at the ATMs present in the airport. You just need to make sure to look for the signs of UAE banks, including Mashreq Bank and Emirates NBD. Before heading into them, try and check online for accurate charges and rates.

A piece of advice we want to offer is that making larger, fewer cash withdrawals will bode well for you, as opposed to many smaller ones. This is because many banks across the globe charge additional fees for ATM withdrawals when you are in a foreign country. Doing this will save you loads of money in the long run. 

Please keep in mind that often the rates you will find at the airport are less favourable compared to the exchange houses in the city. Yes, they are highly convenient as you get to have currency exchange options right as you step into the city, but they may not be the most financially feasible idea. What you can do is exchange a small portion at the airport and keep the rest of the exchanges in the city. 

If you need cash immediately after landing in Dubai, then go for it. For instance, if you need cash before checking into your hotel or exploring the city, consider using the airport money exchange sources, as they remain open around the clock every day. Therefore, if you arrive in Dubai way early in the morning or land in the middle of the night, you have nothing to worry about. The money exchange options available at the airport have got you covered. 

Where to Exchange Currency in Dubai Mall?

Dubai is a bona fide shopping destination, and the malls of the city are not only among the best places in Dubai to visit for free but can also aid you immensely with currency conversion. 

For example, the Dubai Mall has more than ten separate exchange bureaus. You will find branches of some of the most popular exchanges in the city here - Al Ghurair Exchange, Al Fardan Exchange, Al Ansari Exchange, LM Exchange, and Orient Exchange, to name a few. So, a simple trip to the mall for shopping can be an easy way to exchange currency as well. 

Apart from Dubai Mall, some other popular malls that will provide you with currency exchange options are Mall of the Emirates and City Centre Deira, among others. These exchanges are considered trustworthy and have a reliable reputation for offering seamless service, making it extremely easy for you to convert your currency without any worry. 

In addition, one benefit of these malls is that they have extended hours. As such, they remain open for long hours, which is extremely convenient for anyone who needs to exchange currency at an off-time, such as late into the evening. 

Similar to what we mentioned earlier about Dubai International Airport, you can also withdraw Dirhams from the various ATMs present in these malls. But please keep in mind the fact that your bank may charge additional fees for ATM withdrawals when you are travelling abroad. So, consult with your bank about it beforehand so that you don’t waste a lot of money. 

Other Places in Dubai to Exchange Currency

You may use your Mastercard credit or debit cards or your international Visa at most shops and restaurants in the emirate, along with cards from popular providers such as Union Pay, American Express, JCB, and Diners Club, at certain outlets.

When paying for goods or services in the city, if you are using your international card, then you might get an option to "pay in Dirhams". Selecting this option is smart rather than paying in your card's own currency, as it may incur additional hidden costs. Small aspects such as these can go a long way in saving your money. 

Please note that most international cards charge a certain flat fee per transaction along with a percentage of the amount. This often makes this whole process an expensive affair. We recommend you check with your card provider ahead of time to ensure you know how much it charges. 

If you find out from them that you will get charged for every transaction, then you probably will be better off withdrawing cash. But, be careful of carrying too much heavy cash with you all the time. 

Another simple and popular way to get Dirhams in Dubai is to use the ATMs. This is ideal for those who prefer to use their international cards for withdrawing cash. You will find them everywhere in the city – from malls to hotels, from airports to the streets. It is advisable to look for ATMS of local banks such as Mashreq Bank or Emirates NBD, or international ones such as HSBC.

If you don’t feel safe carrying a lot of cash with you, then withdrawing local money from the ATMs is a convenient option. But you need to be aware of the fees that your bank may charge for transactions made abroad. Furthermore, as we stated earlier, making fewer large withdrawals is a more economical option than making multiple smaller ones. 

As the ATMs in Dubai offer multi-language support, they are extremely user-friendly for international travellers. Given the fact that Dubai is a popular travel destination, this is a major boon for tourists. 

Hotels in Dubai offer exchange services for the convenience of their guests, but while it’s great if you are looking for a small amount of cash urgently, it might not be the best option if you are specifically looking to find a decent exchange rate. If you require a larger amount, then you should visit the branch of an exchange house in a mall or simply use an ATM.

The service in hotels and resorts can be ideal if you do not want to leave the premises to exchange your money. But, please remember that the rates provided by hotels are generally not as competitive as those found at reliable currency exchange centres.

Popular Exchange Houses in Dubai

The city of Dubai has some of the most reputable exchange houses in the world that provide trustworthy services and competitive rates. These exchange houses also have multiple branches throughout the city for easy accessibility. Over the years, these exchange houses have earned a solid reputation for not only making the process convenient and quick but also for offering great rates. 

Let us get you acquainted with some of the most sought-after exchange houses in Dubai. 

GCC Exchange

An extremely well-known global company that is headquartered in the UAE, GCC Exchange has its branches in popular neighbourhoods of Bur Dubai and Deira. The convenient branch locations of this exchange make it popular among those living in the old parts of the city. 

Al Ansari Exchange

With over 115 branches across Dubai, the Al Ansari Exchange is, without a shadow of doubt, one of the most popular exchange houses in the emirate. Founded in 1966, branches of the company can be found in Dubai Mall and City Centre Deira, among others, with its main branch being at Al Barsha.

Al Fardan Exchange

Evident by its name, the Al Fardan Exchange is part of the Al Fardan Group. It has over 30 branches across the city, including in Dubai Festival City, Mall of the Emirates, and Bur Dubai.

Sharaf Exchange

The Sharaf Exchange is part of the Sharaf Group and is considered to be a reputable currency changer with 20 branches in the emirate, including in Mercato Mall and Satwa.

Documents Needed for Currency Exchange in Dubai 

When you are heading to an exchange house to exchange your money, you usually have to present some sort of identification. It can be a national ID or a passport copy, or even contact details. 

If you are carrying a traveller’s cheque, we recommend getting in touch with the exchange house of your choice in advance to check whether they will accept it or not. Please note that not all exchange house accepts travellers’ cheques. Therefore, enquiring beforehand will save you valuable time and effort. 

Providing identification proof is a standard requirement for almost all exchange transactions, as it needs to be done to comply with the local regulations. So, try and carry ID proof with you, in digital form, at least.  You should also keep multiple photocopies of your passport and national ID with you whenever you are travelling abroad. 

To Conclude 

Money exchange options in Dubai are plentiful. The authorities have ensured to provide enough and easy access to travellers to exchange their currencies across the city. 

As you have realised from the aforementioned discussion that it is always a smart idea to compare rates of the different exchange houses in Dubai beforehand. The rates can vary from place to place, and the small differences can add up to burn a hole in your pocket. This is especially true if you are exchanging money frequently, multiple times. 

In malls, you will find competitive rates as well. Therefore, we heavily recommend you consider comparing the exchange rates at multiple places before settling on one. 

It is also worth noting that several exchange houses in the city allow you to lock in a rate online and then proceed with the transaction at their branches. As you can see, this can be a fantastic way to make sure you get the best rate you want without worrying too much about any changes in the market.

Airports are great places to exchange money as they remain open throughout the day and are the quickest option to exchange money once you land in Dubai. Malls in the city also remain open for long hours till the evening. So, that can be a convenient option for you as well.

The UAE Government has put several rules and regulations in place to safeguard the interests of travellers when it comes to exchanging currencies. Therefore, the government maintains security and transparency in currency exchange centres, which provides travellers with peace of mind. 

Carry multiple photocopies of your national ID and passport along with traveller’s cheques and photographs whenever you are heading to exchange currencies, as that may be a requirement for many exchange houses. Prepare yourself ahead of your trip and enjoy your stay in Dubai.

FAQs

Questions about Money Exchange in Dubai 

Where is the best place to exchange currency in Dubai? 

Some of the best places to exchange currency in Dubai are the currency exchange houses, such as Al Ansari Exchange, Al Fardan Exchange, and Sharaf Exchange. You will also find their branches in popular malls of the city, such as Dubai Mall, City Centre Deira, Mall of the Emirates, among others. 

Can I exchange currency at Dubai airport?

Yes, you can certainly exchange currency in the Dubai International Airport. You will find several currency exchange centres, including some of the most popular ones such as Al Ansari Exchange, across the airport terminals, in the departure as well as arrival sections. 

Can I exchange currency in hotels in Dubai?

Yes, you can exchange currency in a hotel in Dubai, as most of the well-known hotels offer currency exchange services. However, please keep in mind the fact that you will not find the best rates in the hotels, as they typically ask for a convenience fee, making their rates higher when compared to reputable exchange houses. 

Which exchange is best in the UAE?

Al Rostamani International Exchange (ARIE), Al Ansari Exchange, Al Fardan Exchange are widely regarded to offer the best currency exchange rate in the UAE for the Dirham to any major currency.

Why do currency exchange rates vary in Dubai? 

There are varied factors as to why currency exchange rates vary from place to place. This may include fluctuating global market conditions or service fees that are charged by the exchange houses. The rates you will find in hotels and airports may include convenience fees. The exchange houses seen in malls often offer competitive rates due to heavy competition.

How to get the best exchange rates? 

It is usually recommended to visit banks and credit unions before making a trip, as they are the best places to exchange currency. Most reputable banks provide currency exchange services at a lower price than regular currency exchange kiosks. Not to forget, some banks even waive fees for holders of a premium account. 

                                                                                                                                                   

 

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