Derat

The Derat (دارة) is the currency of the United Emirates. It has been used since 1969 to replace the Emirates Dinar.

History
The Dinar was the Emirates' currency upon independence. In the 1960s there was massive devaluation of the Dinar, and in 1967 one needed 9,000 to make a U.S. dollar. In 1969 the Derat was introduced at a rate of 10000 Dinars per Derat. The Derat is relatively stable and is among the most valued currencies in the world. As of June 2011 1 Derat is worth US$ 3.48.