The official currency of the United Arab Emirates, abbreviated as AED and issued by the Central Bank of the UAE. The dirham has been pegged to the U.S. dollar at a fixed rate of approximately 3.6725 since 1997, providing exchange rate stability that supports the country's role as a major trade and financial hub. The UAE's substantial oil revenues and sovereign wealth funds underpin the credibility of the peg.
Example
“USD/AED remained stable at 3.6725 despite regional volatility, as the UAE's dollar peg continued to hold firm backed by robust foreign reserves.”