The exchange rate is the rate at which one currency is converted into another via online channels using the services provided by the bank or other exchange institutions. The conversion is initiated based on the current UAE exchange rate provided by the bank or institution. The bank/institutions also charge a small processing fee on the transaction.
You can calculate the UAE exchange rate by dividing the amount of the currency you start with by the amount of foreign currency you will redeem.
A foreign exchange company, also known as a forex broker is a company that usually allows currency exchange and international payments to individuals and private companies, and provides physical delivery and not towards bank accounts.
Below is the list of the best money exchange companies in Dubai, UAE: