Currency of Qatar

The currency of Qatar is called Qatari riyal. It holds an important place in the world economy. The code of Qatari riyal is QAR and its ISO code is 4217. The riyal is divided into dirham and the currency is officially used in Qatar both in the way of riyal and dirham. Qatar central bank is the main and official bank for the issue of currency in both forms. One riyal is equal to 100 dirham. However for convenience of British and English men it is often denoted with QR. The whole economy of Qatar is based on the riyals.

The amount of 1 dollar was equal to 3.64 riyal in the late nineties however in twentieth century it as gained official place and price in the international market. Indian rupee and then Saudi riyal was the local currency of Qatar till 1960’s however government introduced riyal and dirham later on. Coins of 1, 5, 10, 20 and 50 dirham are available whereas 1, 5, 10, 50, 100 and 500 banknotes are also available nowadays. The official rate of 1 riyal is US 24.7 cents nowadays (as of October 2012). The economy of Qatar is getting strong day by day with the use of riyal and dirham.

Qatar Currency Riyal