Middle East Currency Exchange Rates
Access real-time forex rates for Middle Eastern currencies including the UAE Dirham (AED), Saudi Riyal (SAR), Qatari Riyal (QAR), Israeli Shekel (ILS), and other Gulf currencies.
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Middle East Currency Features
Track major Middle Eastern currencies including AED, SAR, QAR, KWD, BHD, OMR, and ILS with real-time exchange rate updates.
Monitor Gulf Cooperation Council (GCC) currencies that are pegged to USD, offering stability for regional trade and investment.
Compare Israeli Shekel (ILS) with Gulf currencies to see the contrast between floating and pegged exchange rate regimes.
Access real-time data on currencies from the world's major oil-producing region.
Why Track Middle East Currencies
Middle Eastern currencies offer unique characteristics in the forex market, with most Gulf currencies maintaining fixed pegs to the US Dollar. UAE Dirham (AED), Saudi Riyal (SAR), and Qatari Riyal (QAR) have been pegged to USD for decades, providing stability for international trade and investment in the region. Understanding pegged currency dynamics is valuable for traders and businesses operating in the Middle East. While AED/USD and SAR/USD rates remain stable, cross rates between these currencies and non-dollar currencies fluctuate with USD strength. Israeli Shekel (ILS) stands out as a freely floating currency in the region, offering different trading characteristics. Our cross rates table helps you see how Middle Eastern currencies relate to each other and global currencies.
Middle East Currencies FAQ
Gulf states peg to USD because oil is priced in dollars, providing revenue stability. The pegs have been maintained for decades and are backed by substantial foreign reserves.
AED is one of the most stable currencies due to its USD peg and UAE's massive sovereign wealth funds. The peg has never been adjusted since it was established in 1997.
Israeli Shekel floats freely based on market forces, unlike pegged Gulf currencies. ILS is influenced by tech sector performance, Bank of Israel policy, and regional geopolitics.
Most forex pairs trade 24/5 globally. However, local trading hours and liquidity are highest during Middle East business hours, which overlap with European morning sessions.