Learn more about Qatari riyal
ريال قطري (Arabic)
| ISO 4217 Code
|| The World Factbook, 2005 est.
| Pegged with
|| U.S. dollar = 3.64 riyals
|| QR or ر.ق
|| 1, 5, 10, 25, 50 dirhams
|| 1, 5, 10, 50, 100, 500 riyals
| Central bank
|| Qatar Central Bank
The Qatari riyal (currency code QAR) is the official currency of Qatar. A riyal is divided into 100 dirhams, and is abbreviated either QR (English) or ر.ق (Arabic).
Until 1966, Qatar used the Indian rupee as 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. Qatar briefly adopted the Saudi riyal, then introduced the Qatar and Dubai riyal. The Saudi riyal was worth 1.065 rupees, whilst the Qatar and Dubai riyal was equal to the rupee prior to its devaluation.
Until 1973, Qatar and Dubai jointly issued the riyal. However, following Dubai's entrance into the United Arab Emirates, Qatar began issuing the Qatari riyal separate from Dubai.
Coins are issued in denominations of 1, 5, 10, 25 and 50 dirhams.
The Qatar Central Bank (QCB) issues banknotes in denominations of 1, 5, 10, 50, 100, and 500 riyals.
 Fixed exchange rate
In March 1975, the riyal was officially pegged to the IMF's Special Drawing Rights (SDRs). In practice, it has been fixed at 1 U.S. dollar = 3.64 riyals since 1980<ref>Exchange Rate Policy, Qatar Central Bank</ref> <ref>Tables of modern monetary history: Asia</ref>, which translates to approximately 1 riyal = 0.274725 dollar. This rate was made official in July 2001.
Current QAR exchange rates
Note: Rates obtained from these websites may contradict with pegged rate mentioned above
 See also
Qatari and Dubai riyal
Qatari and Dubai riyal
Reason: independence (in 1971)
Ratio: at par
|Currency of Qatar |
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ca:Riyal de Qatar