Dubai – Mubasher: The available amount of coins is sufficient for the market’s needs, the Central Bank of the UAE (CBUAE) said on Wednesday.
CBUAE announced that it was ready to meet banks' needs of coins and to mint small changes, if necessary, according to Emarat Al-Youm.
Dirham’s fractions can be rounded up to the nearest coin value, which is AED 0.25, after putting the value-added tax (VAT) into effect, said Ahmed Al Zaabi, senior manager of consumer awareness at the Department of Economic Development in Dubai.
The UAE began to impose 5% VAT as of 1 January 2018.
