1 RMB (Chinese Yuan Renminbi - CNY) is approximately equal to 0.5804 AED (United Arab Emirates Dirham). It is the currency of the United Arab Emirates. AED is subdivided as1 Dirham = 100 fils. The United Arab Emirates has the fastest-growing economy in the world. Prior to Dirham, currencies such as Bahraini Dinar, Dubai Riyal and Qatar Riyal were also used as currencies. In 1971 Dirham replaced Dubai Riyal as and Qatar Riyal at par. In 1997 the Dirham was pegged to the US Dollar at 1 USD = 3.6725 Dirham.