The official currency of Qatar is the local rial. It consists of a hundred dirhams. Qatar's currency is pegged to the US dollar at a ratio of 1 to 3.64 in favor of the US currency. This state of affairs is due to the long-standing, since 1992, cooperation of the two states in the military field.
Qatari Currency History
In Qatar, until April 28, 1959, the Indian rupee was used in circulation, which was replaced by the currency of the same name specially developed for the Persian Gulf states. This currency was tied to Indian signs. This situation led to the fact that at the time of the sharp devaluation of the Indian rupee and the currency of the Persian Gulf significantly depreciated. After that, the states of the region decided to switch to their own monetary units. Qatar also took this path, whose currency, however, was not introduced immediately.
First of all, in 1966, the Saudi rial was put into circulation in the state. This currency at that time in relation to the rupee had a rate of 1 to 1,065. In September of the same year, Qatar and Dubai began to use the common currency unit - riyal. But after Dubai entered the UAE in 1973, Qatar introduced its own money into circulation. This monetary unit also received the name rial. By the way, it will be said that the currency of Qatar and Oman has the same name.
Banknotes and metal coins
In June 2003, the Central Bank of Qatar launched banknotes of a new type in denominations of one, five, ten, fifty, one hundred and five hundred riyals. These banknotes received a higher level of reliability and changed their design in comparison with the rials of 1996 of release. In addition, various metal coins are used in the emirate of Qatar. The currency, the photo of which is presented below, takes part in circulation throughout the country. True, in the provincial regions practically all denominations go, but in large settlements, coins of twenty-five and fifty dirhams are used.
Conditions and methods of currency exchange in Qatar
The Emirate of Qatar has well-developed economic and business relations with many countries of the world. In addition, it should be noted that this country is an attractive place for foreign tourists. Such circumstances contribute to the creation of comfortable conditions for the exchange of world currencies to local rials. Qatar currency is available at a variety of exchange offices or bank branches.
In addition, in the country you can purchase the local currency unit rial at points located in shopping centers. By the way, it will be said that crime is practically absent in Qatar. This allows you to safely change money even at private exchange points, carry any amount with you, including at night.
Opening hours of exchange offices
Banking institutions in Qatar, as a rule, start working at 8 a.m. and serve customers until 13:30 p.m. Friday is usually a day off. Exchange offices provide their services from 8 am until late in the evening. Lunch break is two hours. At exchange offices, as well as at bank branches, Friday is a day off. True, some of them serve customers around the clock. In them, the Qatar currency is available 24 hours a day.
It should be emphasized that exchanging dollars, euros and other currencies for rial is more profitable in bank branches. The fact is that in private exchange offices there is usually an understated rate of purchase of world monetary units. As for the availability of ATMs, there are no problems with this in the capital of Qatar, Doha.They are installed in all branches of banks, the airport, hotels and shopping centers.
It will be the way to say that on the territory of the Qatari airport you can get money at an ATM both in local rials and in US dollars, euros and Japanese yens. Plastic cards and traveller's checks are accepted as a means of payment in hotels and large shopping centers. It is most beneficial to use traveller's checks in US dollars. This will avoid multiple conversions when transferring to Qatari rials.
In conclusion, it should be noted that in the Emirate of Qatar, there are no restrictions on the import of any world monetary units and Qatari rial. In addition, the currency of Qatar, as well as other signs, need not be indicated in the declaration when crossing the border.
