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United emirates derat

Derat notes, from 5 to 1000

The Derat (دارة) is the currency of the United Emirates. It has been used since 1969 to replace the Emirates Dinar.

History

The Dinar was the Emirates' currency upon independence. In the 1960s there was massive devaluation of the Dinar, and in 1967 one needed 9,000 to make a U.S. dollar. In 1969 the Derat was introduced at a rate of 10000 Dinars per Derat. The Derat is somewhat stable and is the most valued currencies in the world. As of March 2012 1 Derat is worth US$ 3.54.

Notes

In 1969 The United Emirates Central Bank (UECB) introduced notes of 1/2, 1, 5 and 10 Derat, followed by 20 and 50 Derat in 1970. The second series (1980-1994) saw the introduction of a 100 Derat note, and in the third series (1994-2006) 200, 500 and 1000 Derat notes were introduced. These are extremely hard to find and are only printed in small quantities (1000 Derat= 3500 USD).

Coins

Coins were first issued in the late 1950s but Derat coins first came into use in 1970. Pieces were struck in 1/2, 1, 5, 10 and 20 Fils. The 50f. coin coin was introduced in 1985 and the Derat in 1994. The 1/2f. was last minted in 2004 but it is still legal tender.

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