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The United Arab Emirates is a high-income developing market economy.The UAE's economy is the 4th largest in the Middle East (after Turkey, Saudi Arabia and Israel), with a gross domestic product (GDP) of US$415 billion (AED 1.83 trillion) in 2021-2023.
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The 1, 5, and 10 fils coins are rarely used in everyday life, so all amounts are rounded up or down to the nearest multiples of 25 fils. The 1 fils coin is a rarity and does not circulate significantly. In making a change there is a risk of confusing the old 50 fils coin for the modern 1 dirham coin because the coins are almost the same size.
It is the second largest economy in the GCC (after Saudi Arabia), [236] with a nominal gross domestic product (GDP) of US$414.2 billion, and a real GDP of 392.8 billion constant 2010 USD in 2018. [235] Since its independence in 1971, the UAE's economy has grown by nearly 231 times to 1.45 trillion AED in 2013.
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(Reuters) -The S&P 500 and the Dow hovered at levels seen more than a week ago on Friday, as investors took comfort from data pointing to robust economic activity in the world's biggest economy.
The market convention is to quote most exchange rates against the USD with the US dollar as the base currency (e.g. USDJPY, USDCAD, USDCHF). The exceptions are the British pound (GBP), Australian dollar (AUD), the New Zealand dollar (NZD) and the euro (EUR) where the USD is the counter currency (e.g. GBPUSD, AUDUSD, NZDUSD, EURUSD).