The “Qatari Riyal” is the Official National Currency of Qatar. 1 Qatari Riyal=100 dirhams and the code is QAR, and the abbreviation is QR. All Qatar notes and coins are printed and issued by the Qatar Central Bank. The main objective of the banks is to make sure the monetary stability and regulatory control of the currency. The exchange rate of the Qatari Riyal (QR) against the US Dollar is fixed at $1 USD = 3.64 QR. This rate was enshrined into Qatari law by Royal Decree signed by Hamad bin Khalifa Al Thani, Emir of Qatar, on 9 July 2001.
Qatar used Indian rupees as its currency Until 1966, in the form of Gulf rupees. When Indian rupees started to fall and the currency got weaker and weaker, Qatar, along with the other states using the Gulf rupee, chose to introduce its own currency. Before carrying out reform, the Saudi riyal was used for a short period of time. Finally, in 1973, the riyal was introduced in Qatar and Dubai. Following Dubai’s entry into the United Arab Emirates, Qatar began issuing the Qatari riyal separate from Dubai on 19 May 1973.
Quick Facts About Qatar Riyal (QAR)
|Currency Name||Qatar Riyal|
|Frequently Used Coins||1 dirham, 5 dirhams, 10 dirhams, 25 dirhams, 50 dirhams|
|Rarely Used Coins||NA|
|Frequently Used Bank Notes||1 riyal, 5 riyals, 10 riyals, 50 riyals, 100 riyals, 500 riyals|
|Rarely Used Bank Notes||NA|
|Central Bank, Name & Website||Qatar Central Bank | www.qcb.gov.qa|
|Territories that use the currency as a part of their legal tender||NA|
Currently, you can find in circulation in Qatar coins of 1, 5, 10, 25, and 50 dirhams. Qatari riyal bank notes are 1, 5, 10, 50, 100, and 500 riyals. The colors of the new editions of Qatari notes are blue (1 and 500 Riyal bills), green (5 and 100 Riyals), brown (10 Riyals), pink (50 Riyals), and green (100 Riyals).