Convert AED to USD
Although pegged to the US dollar, the AED also enjoys a close correlation with several other currencies. Some of them include Chinese yuan, Hong Kong dollar, Israeli New Shekel, Singapore dollar and Indian rupee.
When the value of the US dollar depreciates due to monetary easing by the Fed or any other factors, the UAE Central Bank will have to resort to purchasing more dollars to maintain the exchange rate steady at 3.672.
During the global financial crisis back in 2008-09, markets had anticipated such a possibility, given the weakness in the US economy. However, the UAE Central Bank continues to hold the peg in place.