At what rate has the UAE dirham been pegged to the US dollar since November 1997?
Answer and explanation
Correct answer: A. 3.6725 dirhams per US dollar
- Step 1: Since November 1997 the dirham has been pegged to the US dollar at a rate of US$1 = Dhs 3.6725. Answer: 3.6725 dirhams per US dollar. This translates to approximately Dh 1 = US$0.272294. Why not the others: 3.5500 dirhams per US dollar, 4.0000 dirhams per US dollar and 3.7500 dirhams per US dollar don't fit.
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