How is the zakat calculated for an amount in UAE dirhams that has been held since 2010 and recently converted to Egyptian pounds: Is it based on its value at the time the amount was acquired, or its value at the time it was converted to Egyptian pounds?

Zakat (definition) is obligatory on wealth if it reaches the nisab (definition) and a full year (hawl) has passed on it. The nisab is equivalent to 85 grams of gold or 595 grams of silver. The hawl is not interrupted by exchanging wealth for another currency. Zakat is paid on the wealth present at the time Zakat becomes due (upon the completion of the Hijri year), and Zakat is disbursed at a rate of one-quarter of one-tenth (2.5%) of what is present, regardless of its value in Egyptian Pounds. As for what has been spent or has decreased in value, Zakat is not obligatory on it.