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Qatar Currency
 
 
 

The currency of Qatar is the riyal, and it is divided into 100 dirham. Notes come in QR1, 5, 10, 50, 100 and 500 denominations. Dirham coins are no longer used, although curiously prices are sometimes quoted in riyal and dirhams and then rounded up or down to the nearest riyal e.g. QR1.3 is rounded down to QR1, while QR1.7 is rounded up to QR2.

Qatar used the Indian rupee as currency until 1966, 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. Before doing so, Qatar briefly adopted the Saudi riyal, then introduced the Qatar and Dubai riyal which was the result of signing the Qatar-Dubai Currency Agreement on 21 March 1966. The Saudi riyal was worth 1.065 rupees, whilst the Qatar and Dubai riyal was equal to the rupee prior to its devaluation.

Following Dubai’s entrance into the United Arab Emirates, Qatar began issuing the Qatari riyal separate from Dubai on 19 May 1973. The old notes continued to circulate in parallel for 90 days, at which time they were withdrawn.

In 1966, coins were introduced in the name of Qatar and Dubai for 1, 5, 10, 25 and 50 dirham. In 1973, a new series of coins was introduced in the same sizes and compositions as the earlier pieces but in the name of Qatar only.

On September 18, 1966, the Qatar & Dubai Currency Board introduced notes for QR1, 5, 10, 25, 50 and 100. These were replaced on 19 May 1973 by notes of the Qatar Monetary Agency in denominations of QR1, 5, 10, 100, and 500; a 50-riyal note was issued in 1976. The Qatar Central Bank was established on 5 August 1993 – all coins and notes issued by the Qatar Monetary Agency became the property of the bank but continued to circulate for several years.

 

 
 

 



 


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