Even though archeologists can safely say that Dubai aria was inhabited for at least 2000 years, the first records of Dubai town date from the 18th century. In that period Dubai was a fishing village, dependent of the settlement of Abu Dhabi.
The growth of Dubai started in the 1830s, when Bani Yas tribe took over the town and established Dubai as an independent emirate.
In 19th century, Dubai signed a several truces with Britain, and in 1892 came under the protection of United Kingdom by signing the Exclusive Agreement.
Dubaiís position on the route to India, and a smart trade-commercial policy of its rulers soon made this town an important harbor. Soon after, many foreigners settled in the city (mainly from India, Persia and Great Britain) and by the 1930s made one 1/4 of Dubaiís residents.
Drop in trade in the World War II and decline of pearl export in the 1930s seriously affected Dubaiís economy, but it managed to recover by making profit from favorable conditions of trade with and India and Persia.
In the1960s oil was discovered near Dubai, and soon production and export of oil started.
In 1971 the Great Britain protectorate ended, and Dubai, together with six other emirates, formed the UAE (United Arab Emirates). In 1973, all emirates adopted uniform currency- UAE dirham.
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