Exchange Rates For Qatari Riyal (QAR)

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Qatari Riyal

The Qatari Riyal is the currency used in the State of Qatar. This currency is issued by the Qatar Central Bank. It is divided into 100 dirhams and abbreviated as either QR. Till 1996, Qatar used Indian Currency (rupee) as its currency in the form of Gulf rupees. India devaluated its currency in 1966, hence Qatar along with other countries in the Middle East chose to introduce its currency.

Before introducing its currency, Qatar was using the Saudi riyal following the signing of an agreement between Qatar and Dubai on March 21, 1966. Following Dubai’s entry into the United Arab Emirates, Qatar started issuing its separate currency on May 19, 1973.

The Qatari currency is pegged to the U.S. dollar at a fixed exchange rate of US$ 1= 3.64 QR. This rate was enshrined into the Qatari law by the Royal Decree No. 34 of 2001. The decree was signed by Hamad bin Khalifa Al Thani, Emir of Qatar in July 2001.

 

Disclaimer: The currency rates are sourced from reliable sources. There maybe variance in rates and prices. GoodReturns.in has made every effort to ensure accuracy of information provided; however, Greynium Information Technologies Pvt Ltd, its subsidiaries and associates do not guarantee such accuracy. The rates are for informational purposes only. It is not a solicitation to buy, sell or act based on the rates given. Greynium Information Technologies Pvt Ltd, its subsidiaries, associates do not accept culpability for losses and/or damages arising based on currency rates provided.

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