Qatar Currency is called Qatari Riyals. It is divided into 100 dirham and is abbreviated as QR.
Qatar used the Indian rupee as currency, in the form of Gulf rupees until 1966. 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 which was the result of signing the Qatar-Dubai Currency Agreement on 21 March 1966.
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.
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 riyal since 1980, which translates to approximately 1 riyal = 27.4 cents. This rate was made official in July 2001.
Below are the current denomination of Qatar Currency since 1996.
Illustration – Qatar Currency