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Encyclopedia > Qatari Riyal
Qatari riyal
ريال قطري (Arabic)
500 riyal obverse 500 riyal reverse
500 riyal obverse 500 riyal reverse
ISO 4217 Code QAR
User(s) Qatar
Inflation 7.2%
Source The World Factbook, 2006 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). Image File history File links 500 Qatari Riyal note (front) from Qatari Central Bank web page http://www. ... Image File history File links 500 Qatari Riyal note (back) from Qatari Central Bank web page http://www. ... A fixed exchange rate, sometimes (less commonly) called a pegged exchange rate, is a type of exchange rate regime wherein a currencys value is matched to the value of another single currency or to a basket of other currencies, or to another measure of value, such as gold. ... ISO 4217 Code USD User(s) the United States, the British Virgin Islands, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation 3. ... The Qatar Central Bank (or QCB)is a well-known bank in Qatar. ... The riyal is the currency of Qatar (ISO 4217: QAR) and Saudi Arabia (SAR). ...

Contents

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. ISO 4217 Code INR User(s) India Inflation 5. ... The Gulf Rupee, also known as the Persian Gulf Rupee (XPGR), was introduced by the Indian government as a replacement for the Indian Rupee for circulation exclusively outside the country with the Reserve Bank of India [Amendment] Act, 1 May 1959. ... ISO 4217 Code SAR User(s) Saudi Arabia Inflation rate 0. ...


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. Coordinates: Emirate Dubai Sheikh Mohammed bin Rashid Al Maktoum Area    - City 4,114 km² Population (2006)  - City 1,321,453UNIQ377,860c62,541b2c2-ref-00,000,001-QINU  - Density 293. ...


Coins

Coins are issued in denominations of 1, 5, 10, 25 and 50 dirhams. This article is about monetary coins. ...


Banknotes

The Qatar Central Bank (QCB) issues banknotes in denominations of 1, 5, 10, 50, 100, and 500 riyals. The Qatar Central Bank (or QCB)is a well-known bank in Qatar. ... A £20 Ulster Bank banknote. ...


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[1] [2], which translates to approximately 1 riyal = 0.274725 dollar. This rate was made official in July 2001. The International Monetary Fund (IMF) is an international organization that oversees the global financial system by observing exchange rates and balance of payments, as well as offering financial and technical assistance when requested. ... Special Drawing Rights (SDRs) is a potential claim on the freely usable currencies of International Monetary Fund members. ... ISO 4217 Code USD User(s) the United States, the British Virgin Islands, East Timor, Ecuador, El Salvador, the Marshall Islands, Micronesia, Palau, Panama, Turks and Caicos Islands, and the insular areas of the United States Inflation 3. ...

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

See also

The Gulf Rupee, also known as the Persian Gulf Rupee (XPGR), was introduced by the Indian government as a replacement for the Indian Rupee for circulation exclusively outside the country with the Reserve Bank of India [Amendment] Act, 1 May 1959. ... The Cooperation Council for the Arab States of the Gulf (Arabic: مجلس التعاون لدول الخليج), formerly named and still commonly called Gulf Cooperation Council (GCC) (مجلس التعاون الخليجي) is a regional organization involving the six Persian Gulf Arab States with many economic and social objectives in mind. ...

References

  1. ^ Exchange Rate Policy, Qatar Central Bank
  2. ^ Tables of modern monetary history: Asia
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
1966 – 1973		 Succeeded by:
Qatari riyal
Reason: independence (in 1971)
Ratio: at par
Currency of Trucial States except for Abu Dhabi
1966 – 1973		 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
v • d • e
Currencies of Asia and the Pacific
Central Afghan afghani · Kazakhstani tenge · Kyrgyz som · Mongolian tugrug · Russian ruble · Tajik somoni · Turkmen manat · Uzbek 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

  Results from FactBites:
 
MENAFN - Middle East North Africa . Financial Network News: Riyal lost 33.3pc against euro due to dollar peg in 2003: ... (467 words)
DOHA: For the Qatari riyal (QR), 2003 was a bad year as it took an unprecedented beating against major world currencies due to a tumbling dollar to which it is officially pegged.
The year 2000 was a year of major gain for the Qatari currency as it rallied by an impressive 13.5 per cent against the euro and 11 per cent against the Swiss Franc.
The only currency the riyal lost to in 2000 was the Japanese yen with the drop being 5.7 per cent, down from 14.9 per cent in 1999.
Investment Climate (4085 words)
Even in the case of joint ventures between foreign and Qatari partners, agency/dealership agreements issued by foreign suppliers can be registered only in the name of the Qatari partner in the Commercial Registration Department of the Ministry of Finance, Economy and Commerce.
Qatari and GCC nationals and business concerns are exempted from the income tax provisions.
The Qatari Riyal has been pegged to the U.S. dollar at a rate of USD 1.00 equals QR 3.64 since June 1980 and has to date remained unchanged.
  More results at FactBites »


 

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