Convert AED to EUR - UAE dirham to Euro Exchange Rate | FX LeadersFX Leaders
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WHAT IMPACTS THE AED/EUR EXCHANGE RATE
The AED/EUR currency pair represents the trading of the United Arab Emirates dirham against the Euro - one of the safer pairs to trade in the forex market, even for new forex traders. This is because the AED is one of the most stable currencies in the world as its value has been pegged to the US dollar at the rate of 3.6725 AED against 1 USD.The UAE government has pegged its currency against the USD to guard against volatility impacting its exports - the region is known for its oil exports and keeping the AED pegged against the USD helps offer greater stability to its economy and current account. However, because of the peg, any significant fluctuation in the value of the USD has a major impact on the UAE's overall economy as well.The EUR is the world's second most popularly traded currency in the forex market and also enjoys the status of being a reserve currency, second only to the US dollar. Owing to the relative stability of the AED, this currency pair experiences lower volatility than most others in the forex market. As a result, even new and inexperienced forex traders can try to trade the AEU/EUR pair with some confidence.
AED to EUR CONVERSION RATES
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AED to EUR CHARTS
AED/EUR Live Chart
AED/EUR Historical Chart
AED to EUR EXCHANGE RATE - FAQ
What economic events drive changes in the exchange rate of AED/EUR?

With the value of the AED being pegged to the US dollar, most of the price action in this currency pair is driven by economic events releasing from the Eurozone and from the US to some extent, including GDP, inflation, trade balance, retail sales, business confidence and industrial production.

How does the ECB impact the AED/EUR currency rate?

Any changes to the monetary policy or interest rates announced by the European Central Bank influence the value of the Euro. For instance, if the ECB hikes interest rates or tightens its monetary policy, the EUR strengthens and causes this forex pair to trade bearish, and vice versa.

What was the lowest value of AED/EUR in 2020?

The AED/EUR forex pair fell to a low of 0.2211 on 30 December 2020. This was the weakest level this pair traded at during 2020.