Qatar Currency Name and Everything You Need to Know

The currency of Qatar is called the Qatari Riyal, and it's the official currency of the country. It's often abbreviated as QAR.

The Qatari Riyal is subdivided into 100 dirhams. This is a useful fact to know, especially when dealing with smaller transactions.

You can exchange your money for Qatari Riyal at most banks, currency exchange offices, and some hotels in Qatar.

The Qatari riyal is one of around 180 currencies worldwide, trading against all other official currencies globally. This means we have exchange rates, a measure of how much of one currency we can exchange for another.

A higher exchange rate means the value of one currency has increased compared to another, while a lower exchange rate means the opposite. Exchange rates are essential when traveling to, buying goods and services from, or sending money to Qatar.

You can follow the live exchange rate to the Qatari riyal and see which providers offer the best deals using Monito's currency pages. This will help you make informed decisions about your money.

Here's a brief timeline of Qatar currency:

Sending money to Qatar can be a complex process, especially if you're not familiar with the fees and exchange rates involved.

High fees and exchange rates are a common issue when sending international money transfers with your bank, with fees often constituting more than 10% of your transfer amount.

Fortunately, there are alternative providers that offer more competitive exchange rates, often beating those found at banks.

These alternative providers are numerous and trustworthy, making it easier to find the best option for your specific needs.

The cheapest provider to send money abroad can vary depending on several factors, including where you're sending from, the amount you're sending, and your payment method.

To find the cheapest option, it's recommended to use a live comparison tool to compare rates in real-time.

The Qatari riyal is one of around 180 currencies worldwide, trading against all other official currencies globally.

The Qatari riyal is pegged to the US dollar at a fixed exchange rate of US$1 = QR 3.64, which was enshrined into Qatari law by Royal Decree No.34 of 2001.

This fixed exchange rate has been in place since 1980, translating to approximately 1 riyal = 27.4 cents.

The Qatar Central Bank sets upper and lower limits for the exchange rate, currently at QR 3.6415 and QR 3.6385, respectively.

The Qatari riyal was officially pegged to the International Monetary Fund's Special Drawing Rights in March 1975, but has since been pegged to the US dollar.

Here's a brief timeline of the Qatari currency:

The Qatari riyal is a widely accepted currency, and you can easily exchange it for other currencies at various exchange rates.

Qatar has a rich history of currency, with various types being introduced over the years. The first coins were issued in 1966, featuring a Goitered Gazelle on the reverse and bearing a legend reading "QATAR AND DUBAI".

The Qatar and Dubai 50 dirham coin is a notable example of the country's early currency. It was part of a series that consisted of bronze and cupronickel coins.

In 1973, a new series of Qatari coins was introduced, replacing the legend "QATAR AND DUBAI" with "STATE OF QATAR" and featuring the Qatari emblem. The designs of the coins were slightly altered in 2006, and the composition of the 1 dirham coin was changed to copper-plated silver.

Here are the different types of coins that have been issued in Qatar:

The country also introduced banknotes in 1966, with denominations of 1, 5, 10, 25, 50, and 100 riyal. These notes were replaced by ones issued by the Qatar Monetary Agency in 1973, and later by the Qatar Central Bank in 1996.

Qatar's coins have a rich history, and it's fascinating to learn about their evolution.

The first coins of the Qatar and Dubai riyal were issued in 1966, featuring bronze and cupronickel coins with a Goitered Gazelle on the reverse.

In 1973, a new series of Qatari coins was introduced, replacing the "QATAR AND DUBAI" legend with "STATE OF QATAR" and featuring the Qatari emblem instead of the Goitered Gazelle.

Today, only 25 and 50 dirham coins are circulated, although smaller coins remain legal tender.

Here are the details of the currently circulating coins:

I hope this gives you a good idea of Qatar's coin history and the details of the currently circulating coins.

Qatar has a fascinating history when it comes to banknotes.

The first banknotes were introduced by the Qatar and Dubai Currency Board in 1966, featuring denominations of 1, 5, 10, 25, 50, and 100 riyal.

These notes were replaced in 1973 by new ones issued by the Qatar Monetary Agency with denominations of 1, 5, 10, 50, 100, and 500 riyal.

The Qatar Central Bank took over the issuance of banknotes in 1996, but instead of introducing new denominations, they reused the same ones designed by the Qatar Monetary Agency.

The designs of the banknotes were updated, but the denominations remained the same.

Qatar has a high-income economy, driven primarily by its large oil and natural gas reserves.

The country's GDP per capita is one of the highest in the world, making it an attractive destination for foreign investment.

Qatar has a small but highly developed financial sector, with a number of international banks operating in the country.

The government of Qatar has a significant role in the economy, with state-owned enterprises playing a major part in key sectors such as energy and construction.

The country's strategic location has made it an important hub for international trade and commerce, with a significant amount of trade passing through its ports.

Qatar has a relatively small but well-educated population, which has contributed to its economic success.

The government has implemented various policies to diversify the economy and reduce its reliance on oil and gas exports.

Qatar is a constitutional monarchy with an absolute monarch serving as the head of state.

The country has a relatively small but well-organized government, with a number of ministries and agencies responsible for different areas of policy.

The Emir of Qatar serves as the head of state and government, and has significant powers to make decisions on key issues.

Qatar is a member of the Gulf Cooperation Council (GCC), a regional organization that aims to promote economic and political cooperation among its member states.

The Qatari riyal is the official currency of Qatar, and it's interesting to note that it's pegged at a fixed exchange rate against the US dollar. This rate is set at US$1 = QAR 3.64, as per the Royal Decree no. 34 of 2001.

This decree was signed by the Emir of Qatar, Hamad bin Khalifa Al Thani, on July 9, 2001, and it also established the upper and lower limits of the exchange rate, which are QAR 3.6415 and QAR 3.6385 respectively.

The Qatari riyal has a fixed exchange rate against the US dollar, which provides stability for international trade and commerce.

The Qatari riyal is pegged to the US dollar at a fixed exchange rate of US$1 = QR 3.64, which was enshrined into Qatari law by Royal Decree No.34 of 2001.

This fixed exchange rate means that the value of the Qatari riyal is directly tied to the value of the US dollar, and any fluctuations in the value of the US dollar will directly affect the value of the Qatari riyal.

The Qatari riyal can be exchanged for other currencies, including the Australian dollar, Canadian dollar, Chinese yuan, Euro, British pound, Hong Kong dollar, Japanese yen, and US dollar, among others.

You can check the current exchange rates for the Qatari riyal against these currencies on websites like Google Finance, Yahoo! Finance, OzForex, XE.com, and OANDA.com.

Here's a list of some of the currencies that the Qatari riyal can be exchanged for, along with their current exchange rates:

Note that these exchange rates are approximate and may vary depending on the current market conditions.