The shortest answer is currency pegging (in this case AED is pegged to USD at $1 = Dhs 3.67). Although UAE themselves have been caught in the crossfire earlier this year when Iran retaliated with drones and missiles as those penetrated civilian assets even though their excuse is aiming for military targets.

I mean, the currency is still strong despite that. Usually, a country’s currency can be devalued when crisises or wars take place alongside poor monetary policies. The thing is, how do Gulf states retain stability of their currencies when the strait of Hormuz is being used by Iran as levage regarding the war?