Street vendors are making a killing by selling money wallets decorated with currency notes of different countries and denominations, attracting local and expatriate customers alike.
The currency wallets are the latest craze among residents and tourists and these wallets are now selling like hot cakes, claim several street vendors in Dubai.
Kareem, a street vendor selling the wallets covered with high denomination currency notes, says: “This new product Money Wallet came to the UAE market only a month ago and it is well received by customers.
“I have sold this to many Arab customers, who are fascinated by the high denomination notes of UAE Dirhams, Omani Riyals, US Dollars, British Pounds, Euros, Saudi Riyals and many other currencies. By paying Dh15, you can buy a purse covered with four Dh1,000 notes.”
When asked if such wallets were authorised as they looked a close copy of the original currency notes, he argued that there was no question of fake currency notes as the notes printed on the wallets are bigger in size than a normal note.
“You can easily fit a Dh1,000 note in the wallet printed with Dh1,000 notes. It means the size of the currency images printed on four sides of the wallet is much bigger than an actual currency. We source the wallets from Chinese companies,” he said.
“You have wallets and purses of different colours and designs in the market. Then why not go for one designed with currency notes? Even if they are not real and your wallet contains only smaller notes or coins, you can feel rich,” said one customer who bought one such currency wallet.
“Even though there are many Indian customers around, there are no takers for wallets covered with Indian Rupees 500 notes. The wallets covered with the UAE Dirhams are the fastest moving items in the market,” added another vendor.