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QATAR (QAR) QATAR RIYAL
The Qatar Riyal is the currency of Qatar and is represented by the currency code
QAR. It is made up of 100 dirham and is marked by the symbol ‘QR’ or by its
Arabic version for it. Until 1966 Qatar used the Indian rupee as its currency
but when India devalued its currency, Qatar along with other states chose to
have its own currency. Until 1973 it jointly issued the riyal with Dubai after
which it began issuing its own riyal.
Currently in circulation
Coins in circulation are available in the denominations of 1, 5, 10, 25 and 50
dirhams. Banknotes come in the denominations of 1, 5, 10, 50, 100 and 500 riyal.
Exchange facilities and traveller’s cheques
Foreign currency can be exchanged at many outlets in Qatar which include the
airports, banks, bureaux de change and hotels. The hotels must be avoided as
they give you a very unreasonable exchange rate. Bureaux de change are the best
option as their service commission is quite low. Traveller’s cheques fetch a
better rate in banks as compared to cash but a commission fee is applicable. It
is best to carry traveller’s cheques in US dollars.
Using credit/debit cards
Although credit cards are accepted in Qatar, the general preference is payment
in cash. ATM’s are available outside banks and in shopping centres and are the
easiest mode of withdrawing money.
Restrictions
There are no restrictions as to the amount of local or foreign currency that you
can take in or out of the country. However, the Israeli currency is barred from
being taken in or out of the country.
Qatar: An overview
Qatar is a peninsula in the Arabian Gulf with its only land border meeting Saudi
Arabia at the southern end. It enjoys sunshine almost 365 days of the year.
Qatar is an important trading port and its vibrant history can be traced back to
4000 BC. It is home to the endangered Arabian Oryx which is now bred in
protected herds. The country offers desert adventures, shopping festivals,
natural attractions, modern luxurious accommodation and excellent dining.
The cost of living in Qatar is on par with some of the expensive European
countries. A budget hotel can cost up to QR500 or above for a double room.
