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- List of currencies in the Arab World
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- Qatari riyal - Wikipedia
- Qatari rial - QAR Exchange Rates - Wise
- 1 QAR to USD - Convert Qatari Rials to US Dollars - Xe
- QAR/USD Currency Exchange Rate & News - Google Finance
- Convert from Qatari Riyal (QAR) to United States Dollar (USD)
- Exchange Rate Qatari Riyal to US Dollar (Currency Calculator) - X-Rates
- Qatari rials to US dollars Exchange Rate. Convert QAR/USD - Wise
- QAR - Qatari Riyal rates, news, and tools - Xe
- USD to QAR - US Dollar to Qatari Rial Conversion - Exchange …
- QAR to USD Exchange Rate - Bloomberg.com
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The Qatari riyal (sign: QR in Latin, ر.ق in Arabic; ISO code: QAR) is the currency of the State of Qatar. It is divided into 100 dirhams (Arabic: درهم).
History
Until 1966, Qatar used the Indian rupee as its currency, in the form of Gulf rupees. When India devalued the rupee in 1966, Qatar, along with the other states using the Gulf rupee, chose to introduce its own currency.
Before doing so, Qatar briefly adopted the Saudi riyal, then introduced the Qatar and Dubai riyal following the signing of the Qatar-Dubai Currency Agreement on 21 March 1966. The Saudi riyal was worth 1.065 Gulf rupees, whilst the Qatar and Dubai riyal was equal to the Gulf rupee prior to its devaluation. Initially pegged with sterling at one shilling and six pence (1s. 6d.) per riyal, its value was changed to one shilling and nine pence (1s. 9d.) when sterling was devalued in 1967, maintaining its value in relation to gold.
Following Dubai's entry into the United Arab Emirates, Qatar began issuing the Qatari riyal separate from Dubai on 19 May 1973. The old notes continued to circulate in parallel for 90 days, at which time they were withdrawn.
For a wider history surrounding currency in the region, see the history of British currency in the Middle East.
Coins
In 1966, coins were introduced in the name of Qatar and Dubai for 1, 5, 10, 25, and 50 dirhams. In 1973, a new series of coins was introduced in the same sizes and compositions as the earlier pieces but in the name of Qatar only. Only 25 and 50 dirham coins are now circulated, although smaller coins remain legal tender.
Banknotes
On September 18, 1966, the Qatar & Dubai Currency Board introduced notes for 1, 5, 10, 25, 50, and 100 riyals. These were replaced on 19 May 1973 by notes of the Qatar Monetary Agency in denominations of 1, 5, 10, 100, and 500 riyals; a 50 riyal note was issued in 1976. The Qatar Central Bank was established by decree 15 on 5 August 1973. All coins and notes issued by the Qatar Monetary Agency became the property of the bank but continued to circulate for several years. In 2003, the Fourth Series was issued and on September 26, 2007, the revised of 100 and 500 riyal was issued, follow the revised of the 1, 5, 10, 50 on September 15, 2008. On December 13, 2020, the Qatar Central Bank issued its fifth series of banknotes for circulation. Included in this series is the 200 riyal banknote. The front side of the notes share a common design based on traditional geometric patterns, the Flag of Qatar, Qatari flora and a gate representing historic Qatari architecture.
Qatar issued a commemorative 22 riyal note for the 2022 FIFA World Cup.
Fixed exchange rate
The Qatari riyal is pegged to the US dollar at a fixed exchange rate of US$1 = QR 3.64. This rate was enshrined into Qatari law by Royal Decree No.34 of 2001, signed by Hamad bin Khalifa Al Thani, Emir of Qatar, on 9 July 2001.
Article (1) states that the Qatari riyal exchange rate shall be pegged against the US dollar at QR 3.64, and sets upper and lower limits of QR 3.6415 and QR 3.6385 for the Qatar Central Bank's purchase and sale of dollars with banks operating in Qatar. Article (2) provides the Qatar Central Bank with the authority to determine the volume and the time of sale of US dollars and the associated conditions of such sales and payments. Article (3) cancels the earlier Royal Decree No.60 of 1975, by which the riyal was officially pegged to the IMF's special drawing rights (SDRs).
Note: Rates obtained from these websites may contradict with pegged rate mentioned above
= Effect of the 2017 Qatar diplomatic crisis
=In response to the 2017 Qatar diplomatic crisis, banks in the countries blockading Qatar had to stop trading with Qatari banks. This led to a fall in liquidity offshore and a move away from the fixed exchange rate outside of Qatar, with up to QR 3.81 being required to buy 1 US dollar in late June 2017, a situation that continued until December 2017.
This also led to cessation of trading of Qatari banknotes outside of Qatar with certain banks in certain countries such as the UK.
Within Qatar itself, however, the Central Bank of Qatar has continued to buy and sell US dollars at the fixed rate.
See also
Cooperation Council for the Arab States of the Gulf
Economy of Qatar
Qatar Central Bank
References
External links
The banknotes of Qatar (in English and German)
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Qatari riyal - Wikipedia
The Qatari riyal (sign: QR in Latin, [1] ر.ق in Arabic; ISO code: QAR) is the currency of the State of Qatar. It is divided into 100 dirhams (Arabic: درهم). Until 1966, Qatar used the Indian rupee as its currency, in the form of Gulf rupees.
Qatari rial - QAR Exchange Rates - Wise
The Qatari riyal is pegged at a fixed exchange rate of US$1 = QR 3.64. This rate was formally established into Qatari law through Royal Decree No.34 of 2001, signed by Hamad bin Khalifa Al Thani, Emir of Qatar, on 9 July 2001.
1 QAR to USD - Convert Qatari Rials to US Dollars - Xe
2 days ago · Get the latest 1 Qatari Riyal to US Dollar rate for FREE with the original Universal Currency Converter. Set rate alerts for to and learn more about Qatari Rials and US Dollars from XE - the Currency Authority.
QAR/USD Currency Exchange Rate & News - Google Finance
Get the latest Qatari Riyal to United States Dollar (QAR / USD) real-time quote, historical performance, charts, and other financial information to help you make more informed trading and...
Convert from Qatari Riyal (QAR) to United States Dollar (USD)
2 days ago · Currency converter to convert from Qatari Riyal (QAR) to United States Dollar (USD) including the latest exchange rates, a chart showing the exchange rate history for the last 120-days and information about the currencies.
Exchange Rate Qatari Riyal to US Dollar (Currency Calculator) - X-Rates
3 days ago · This Free Currency Exchange Rates Calculator helps you convert Qatari Riyal to US Dollar from any amount.
Qatari rials to US dollars Exchange Rate. Convert QAR/USD - Wise
Our currency converter will show you the current QAR to USD rate and how it’s changed over the past day, week or month. Are you overpaying your bank? Banks often advertise free or low-cost transfers, but add a hidden markup to the exchange rate.
QAR - Qatari Riyal rates, news, and tools - Xe
QAR - Qatari Riyal. The Qatari Riyal is the currency of Qatar. Our currency rankings show that the most popular Qatari Riyal exchange rate is the QAR to USD rate. The currency code for Rials is QAR, and the currency symbol is ﷼. Below, you'll find Qatari Riyal rates and a …
USD to QAR - US Dollar to Qatari Rial Conversion - Exchange …
2 days ago · 1 US Dollar = 3.6415 Qatari Rials as of February 15, 2025 01:55 AM UTC. You can get live exchange rates between US Dollars and Qatari Rials using exchange-rates.org, which aggregates real-time forex data from the most authoritative sources. How much is 100 US Dollars in Qatari Rials?
QAR to USD Exchange Rate - Bloomberg.com
4 days ago · Current exchange rate QATARI RIYAL (QAR) to US DOLLAR (USD) including currency converter, buying & selling rate and historical conversion chart.