Information AboutQatari Riyal |
| CATEGORIES ABOUT QATARI RIYAL | |
| fixed exchange rate | |
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The Qatari Riyal (currency code '''QAR''') is the official currency of Qatar . A riyal is divided into 100 dirhams. Until 1966, Qatar used the Indian Rupee as Currency , in the form of '' Gulf Rupee s''. 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. The Qatar Central Bank (QCB) issues Banknotes in denominations of 1, 5, 10, 50, 100, and 500 riyals. Coins are issued in denominations of 5, 10, 25 and 50 dirhams. The riyal has been fixed against the U.S. Dollar at about 3.64 to 1 since 1980. One Riyal equals 0.2746 dollars, a dollar equals 3.6385 riyals. Source: http://www.qcb.gov.qa/pages/English_Site/Exchange_Rate.pdf |
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