QAR – Qatari Riyal
Sign – ر.ق / Code – QAR
Long before our corporate currency exchange brokers were helping our clients with their Qatari Riyal transfers, the Qatari Riyal was creating its own rich history.
About the Qatari Riyal
Until 1966, Qatar used the Gulf Rupee as currency, after which India devalued the Rupee, forcing Qatar to adopt a new currency.
Qatar briefly adopted the Saudi Riyal before introducing the Qatar and Dubai Riyal. Following Dubai’s admittance into the United Arab Emirates in 1973, Qatar began issuing a new type of riyal: the Qatari Riyal.
Qatar is a member of the Cooperation Council for the Arab States of the Gulf, along with Saudi Arabia, Kuwait, Bahrain, UAE and Oman which planned to introduce a single currency in 2010, although this plan has yet to be implemented
Subunit: Dirham – 1/100
Coins: 1 dirham, 5 dirham, 10 dirham, 25 dirham, 50 dirham
Banknotes: 1 riyal, 5 riyal, 10 riyal, 50 riyal, 100 riyal, 500 riyal
Bank: Qatar Central Bank