Record sales of Dubai currency as QE2 prepares to leave UK

As the QE2 leaves the UK for the final time before becoming a floating hotel in Dubai, figures from foreign currency expert M&S Money suggest that the region continues to be a popular winter destination for Brits.

Last month saw the highest ever amount of sales of Dubai currency, with more than £1million worth of UAE Dirham (AED) being sold through the network of M&S bureaux de change, as well as on the phone or internet.

October's record figure has contributed to a 15% year-on-year increase in sales of the UAE Dirham - the currency used in the seven states which form the United Arab Emirates.

Dubai and the other UAE states have grown in popularity as a destination for Brits in recent years, whether on holiday, for business or visiting friends and family.

Hotels in Dubai have reported growing visitor numbers this year. There was a 22 per cent growth in hotel revenues during the first three months of 2008, compared to the corresponding quarter last year.

The Queen Elizabeth 2 (QE2) cruise liner is the longest-serving ship in the 168-year history of the Cunard line and is currently owned by Carnival, the world's largest cruise operator.

She leaves Southampton for the last time today and will arrive in Dubai later this month, where she will undergo extensive refurbishment to become a floating hotel.

Fraser Millar, M&S Money Head of Travel Services, said: ‘Our travel money sales figures show that the UAE Dirham is one of the most popular currencies outside the Euro and US Dollar.

"October and November are usually the peak months for sales of the Dirham as people prepare to head-off for some winter sun. The high sales figures of last month may indicate that those who are travelling to the region are taking more cash as a result of the increased cost of living in Dubai. Travellers should bear this in mind when deciding how much currency to purchase before travelling."

Dubai - what you can expect to pay:

Hotel room (per night); £50
Small car rental (per day): £17
Petrol (per gallon): £1.05
Beer (pint): £5
House wine: £30
Bottle of water (1.5 litre): 40p
Burger: £2.40
Foreign newspaper: £3
Brits spend on average £821 per visit to the UAE, or £76 per day.

Dubai currency - facts and figures:

The UAE dirham (AED) is divided into 100 fils. Coins are in 5, 10, 25 and 50 fils and AED1. Notes are in denominations of AED5, 10, 20, 50, 100, 200, 500 and 1,000.

The currency is accepted in the seven ‘emirates': Abu Dhabi, Ajman, Dubai, Fujairah, Ras al-Khaimah, Sharjah, and Umm al-Quwain.