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Qatari riyal

Qatari riyal

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Qatari riyal
ريال قطري (Arabic)
Image:500 qatari riyal front.gif Image:500 qatari riyal back.gif
500 riyal obverse 500 riyal reverse
ISO 4217 Code QAR
User(s) Qatar
Inflation 8.8%
Source The World Factbook, 2005 est.
Pegged with U.S. dollar = 3.64 riyals
Subunit
1/100 dirham
Symbol QR or ر.ق
Coins 1, 5, 10, 25, 50 dirhams
Banknotes 1, 5, 10, 50, 100, 500 riyals
Central bank Qatar Central Bank
Website www.qcb.gov.qa

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).

Contents

[edit] History

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.

[edit] Coins

Coins are issued in denominations of 1, 5, 10, 25 and 50 dirhams.

[edit] Banknotes

The Qatar Central Bank (QCB) issues banknotes in denominations of 1, 5, 10, 50, 100, and 500 riyals.

[edit] 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
Use Yahoo! Finance: AUD CAD CHF EUR GBP HKD JPY USD
Use XE.com: AUD CAD CHF EUR GBP HKD JPY USD
Note: Rates obtained from these websites may contradict with pegged rate mentioned above

[edit] See also

[edit] References

<references/>

Qatari and Dubai riyal
Preceded by:
Saudi riyal
Reason: delivery of local currency
Ratio: 1.065 Qatari and Dubai riyals = 1 Saudi riyal, or 1 Qatari and Dubai riyal = 1 pre-devalued Gulf rupee
Currency of Qatar
19661973
Succeeded by:
Qatari riyal
Reason: independence (in 1971)
Ratio: at par
Currency of Trucial States except for Abu Dhabi
19661973
Succeeded by:
United Arab Emirates dirham
Reason: formed United Arab Emirates (in 1971)
Ratio: at par
Qatari riyal
Preceded by:
Qatari and Dubai riyal
Reason: independence (in 1971)
Ratio: at par
Currency of Qatar
1973
Succeeded by:
Current


Currencies of Asia and the Pacific
Central Afghan afghani | Kazakhstani tenge | Kyrgyzstani som | Mongolian tugrug | Russian ruble | Tajikistani somoni | Turkmenistani manat | Uzbekistani som
East Chinese yuan | Hong Kong dollar | Japanese yen | Macanese pataca | North Korean won | South Korean won | New Taiwan dollar
South-East Brunei dollar | Cambodian riel | Indonesian rupiah | Lao kip | Malaysian ringgit | Myanmar kyat | Philippine peso | Singapore dollar | Thai baht | US dollar (East Timor) | Vietnamese đồng
South Bangladeshi taka | Bhutanese ngultrum | Indian rupee | Maldivian rufiyaa | Nepalese rupee | Pakistani rupee | Sri Lankan rupee
West Armenian dram | Azerbaijani manat | Bahraini dinar | Cypriot pound | Egyptian pound | Georgian lari | Iranian rial | Iraqi dinar | Israeli new sheqel | Jordanian dinar | Kuwaiti dinar | Lebanese lira | Omani rial | Qatari riyal | Saudi riyal | Syrian pound | Turkish new lira | UAE dirham | Yemeni rial
Pacific Australian dollar (Kiribati, Nauru, Norfolk Island, Tuvalu) | CFP franc (French Polynesia, New Caledonia, Wallis and Futuna) | Cook Islands dollar | Fijian dollar | New Zealand dollar (Cook Islands, Niue, Tokelau, Pitcairn Islands) | Papua New Guinean kina | Samoan tala | Solomon Islands dollar | Tongan pa'anga | US dollar (American Samoa, Guam, Northern Mariana Islands, Marshall Islands, Federated States of Micronesia, Palau) | Vanuatu vatu
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ar:ريال قطري

ca:Riyal de Qatar de:Katar-Riyal es:Rial qatarí nl:Qatarese riyal nn:Qatarsk riyal pl:Rial Kataru

Qatari riyal

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