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Desperate for dirhams

Friday, November 14, 2008

There have been record sales of Dubai currency in the UK, prompting currency firm M&S Money to suggest the region is still a popular destination for Britons seeking a winter holiday...

According to the company, October saw the highest ever amount of Dubai currency being purchased, with M&S Money's bureaux de change selling over £1 million of the country's dirham.

The news that the QE2 is to take up a berth in one of the region's harbours and become a floating hotel may also increase tourism to the emirate, which could make it a popular choice for investors looking to buy property overseas.

Head of travel services for M&S Money Fraser Millar noted that sales of the currency usually peak in October and November.

"Our travel money sales figures show that the UAE dirham is one of the most popular currencies outside the euro and US dollar," he remarked.

Abu Dhabi, another destination in the United Arab Emirates, is currently undergoing rapid development, a waterside regeneration conference in Liverpool heard recently.

Source: M&S Money

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