The currency in the United Arab Emirates is the UAE Dirham. Although exchange rates are variable, during the last decade, $1 has been exchanged for approximately 3.7 Dirhams or 7 British pounds. The Dirham currency is tied to the US dollar and can be exchanged readily if you travel to the country. UAE banking customs are slightly different than those in most Western countries. For example, banks are open Saturday through Thursday and they are closed on Fridays. You should always travel with several forms of payment, in case you are in a location that will only exchange 1 type of payment. Find out how to exchange money in the UAE.

You will find moneychangers and ATM's most everywhere in the main cities. You can also change money at the airport, banks and most hotels.

Travellers Cheques are widely accepted. To avoid additional exchange rate charges, travellers' cheques should be issued in US Dollars or British Pounds Sterling. Thomas Cook and HSBC have offices throughout the country.

Credit Cards such as American Express, Diners Club, MasterCard and Visa are widely accepted. Check with your credit or debit card company for details of merchant acceptability and other services which may be available. There are no restrictions on the import and export of both local and foreign currency.

Banking hours are generally Saturday to Wednesday 7:30am-1:00pm, Thursday 7:30am to 12:00noon. Some also open in the afternoon from 4:30pm to 6:00pm Saturday to Wednesday. Thursdays and Fridays are the weekends.

UAE Exchange the leading remittance and foreign exchange brand recently tied up with University of Wollongong in Dubai (UOWD). As per the agreement, students of UOWD can now walk in to any of the 126 branches of UAE Exchange across the UAE and pay their university fees.

Mr. Varghese Mathew, Country Head – UAE Exchange, UAE said, "UAE has gained a lot of attention recently and hence has become a magnet attracting a lot of foreign institutions for higher education. More than 50% of the student population in UAE are foreign nationals. With the country turning into an international destination for education, we felt it was important to provide service to the student community as well. We are very happy to have collaborated with a prestigious institution like the University of Wollongong in Dubai, and hope this relationship is further strengthened."

Prof Trevor Spedding, President of UOWD said "UOWD attracts students from right across the Emirates and many of them, particularly those studying for postgraduate degrees, have chosen the university because the flexibility of our programs allows them to work and study at the same time. Partnering with UAE exchange means extending this flexibility to the payment of fees, and we are delighted to work with them in continuing to make life easier for our students enrolling in programs this autumn and beyond."