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Qatari riyal

{{Short description|Currency of Qatar}}

{{Infobox currency

| local_name1 = ريال قطري

| local_name_lang1 = ar

| image_1 =

| image_title_1 = Banknotes of the Qatari riyal, issued by the Qatar Central Bank.

| image_2 =

| image_title_2 =

| iso_code = QAR

| using_countries = {{flag|Qatar}}

{{flag|Dubai}} (until 1973)

| inflation_rate = 5.42%

| inflation_source_date = [http://www.qcb.gov.qa/English/Publications/Statistics/Pages/EconomicIndicatros.aspx Qatar Central Bank], 2022

| pegged_with = US dollar (USD)
US$1 = QR 3.64

| subunit_ratio_1 = {{Frac|100}}

| subunit_name_1 = dirham

| symbol = QR and {{lang|ar|ر.ق}}

| frequently_used_coins = 25, 50 dirhams

| rarely_used_coins = 1, 5, 10 dirhams

| frequently_used_banknotes = QR 1, QR 5, QR 10, QR 50, QR 100, QR 200, QR 500

| rarely_used_banknotes = QR 22 (commemorative)

| issuing_authority = Qatar Central Bank

| issuing_authority_website = {{URL|www.qcb.gov.qa}}

}}

The Qatari riyal (sign: QR in Latin,{{cite web|url=https://openknowledge.worldbank.org/bitstream/handle/10986/33367/33304.pdf?sequence=4|title=World Bank Editorial Style Guide 2020 - page 138 |website=openknowledge.worldbank.org |access-date=2022-08-01}} {{lang|ar|ر.ق}} in Arabic; ISO code: QAR) is the currency of the State of Qatar. It is divided into 100 dirhams ({{langx|ar|درهم}}).

History

{{See also|British currency in the Middle East}}

Until 1966, Qatar used the Indian rupee as its currency, 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.{{cite web|title=Monetary System in Qatar Historical Background|url=http://www.qcb.gov.qa/English/AboutQCB/Pages/History.aspx}}

Before doing so, Qatar briefly adopted the Saudi riyal, then introduced the Qatar and Dubai riyal following the signing of the Qatar-Dubai Currency Agreement on 21 March 1966.{{cite web|url=http://www.islamicbanknotes.com/Q&Dhistory.htm|title=The Bank Notes of the Qatar and Dubai Currency Board|website=islamicbanknotes.com|access-date=20 April 2018|archive-url=https://web.archive.org/web/20170218160241/http://www.islamicbanknotes.com/Q%26Dhistory.htm|archive-date=18 February 2017|url-status=dead}} The Saudi riyal was worth 1.065 Gulf rupees, whilst the Qatar and Dubai riyal was equal to the Gulf rupee prior to its devaluation. Initially pegged with sterling at one shilling and six pence (1s. 6d.) per riyal, its value was changed to one shilling and nine pence (1s. 9d.) when sterling was devalued in 1967, maintaining its value in relation to gold.

Following Dubai's entry 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.{{cite book | last1 = Linzmayer | first1 = Owen | title = The Banknote Book | chapter = Qatar & Dubai | publisher = www.BanknoteNews.com | year = 2012 | location = San Francisco, CA | url = http://www.banknotebook.com}}

Coins

In 1966, coins were introduced in the name of Qatar and Dubai for 1, 5, 10, 25, and 50 dirhams. 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. Only 25 and 50 dirham coins are now circulated, although smaller coins remain legal tender.{{citation needed|date=October 2020}}

class="wikitable" style="font-size: 90%"
colspan="2"| Imagerowspan="2"| Valuerowspan="2"| Diameterrowspan="2"| Massrowspan="2"| Compositionrowspan="2"| Edgerowspan="2"| Obverserowspan="2"| Reversecolspan="2"| Year of
ObverseReverse

! first minted

withdrawal
{{Coin-copper-color}}

| style="text-align:center; background:#fff;"|

1 dirham15 mm1.4 gCopper-clad SteelSmoothMintage dates both the Gregorian and Lunar Hijri calendars on top, the Emblem of Qatar at the center, and the lettering: "{{lang|ar|دولة قطر}}" in the bottom.The lettering "ONE DIRHAM", below that is the value (Older versions use Eastern Arabic numerals while newer ones use Western Arabic numerals), below that is the lettering "{{lang|ar|درهم}}", and below that is the lettering "STATE OF QATAR"1973
{{Coin-copper-color}}

| style="text-align:center; background:#fff;"|

5 dirhams22 mm2.83 gCopper-clad SteelSmoothMintage dates in both the Gregorian and Lunar Hijri calendars on top, the Emblem of Qatar at the center, and the lettering: "{{lang|ar|دولة قطر}}" in the bottom.The lettering "FIVE DIRHAMS", below that is the value (Older versions use Eastern Arabic numerals while newer ones use Western Arabic numerals), below that is the lettering "{{lang|ar|دراهم}}", and below that is the lettering "STATE OF QATAR"1973
{{Coin-copper-color}}

| style="text-align:center; background:#fff;"|

10 dirhams27 mm7.52 gCopper-clad SteelSmoothMintage dates in both the Gregorian and Lunar Hijri calendars on top, the Emblem of Qatar at the center, and the lettering: "{{lang|ar|دولة قطر}}" in the bottom.The lettering "TEN DIRHAMS", below that is the value (Older versions use Eastern Arabic numerals while newer ones use Western Arabic numerals), below that is the lettering "{{lang|ar|دراهم}}", and below that is the lettering "STATE OF QATAR"1973
{{Coin-silver-color}}

| style="text-align:center; background:#fff;"|

25 dirhams20 mm3.2 gNickel-clad SteelReededMintage dates in both the Gregorian and Lunar Hijri calendars on top, the Emblem of Qatar at the center, and the lettering: "{{lang|ar|دولة قطر}}" in the bottom.The lettering "TWENTY FIVE DIRHAMS", below that is the value (Older versions use Eastern Arabic numerals while newer ones use Western Arabic numerals), below that is the lettering "{{lang|ar|درهماً}}", and below that is the lettering "STATE OF QATAR"1973
{{Coin-silver-color}}

| style="text-align:center; background:#fff;"|

50 dirhams25 mm5.8 gNickel-clad SteelReededMintage dates in both the Gregorian and Lunar Hijri calendars on top, the Emblem of Qatar at the center, and the lettering: "{{lang|ar|دولة قطر}}" in the bottom.The lettering "FIFTY DIRHAMS", below that is the value (Older versions use Eastern Arabic numerals while newer ones use Western Arabic numerals), below that is the lettering "{{lang|ar|درهماً}}", and below that is the lettering "STATE OF QATAR"1973

Banknotes

On September 18, 1966, the Qatar & Dubai Currency Board introduced notes for 1, 5, 10, 25, 50, and 100 riyals. These were replaced on 19 May 1973 by notes of the Qatar Monetary Agency in denominations of 1, 5, 10, 100, and 500 riyals; a 50 riyal note was issued in 1976. The Qatar Central Bank was established by decree 15 on 5 August 1973. All coins and notes issued by the Qatar Monetary Agency became the property of the bank but continued to circulate for several years.{{cite book | last1 = Linzmayer | first1 = Owen | title = The Banknote Book | chapter = Qatar | publisher = www.BanknoteNews.com | year = 2012 | location = San Francisco, CA | url = http://www.banknotebook.com}} In 2003, the Fourth Series was issued and on September 26, 2007, the revised of 100 and 500 riyal was issued, follow the revised of the 1, 5, 10, 50 on September 15, 2008. On December 13, 2020, the Qatar Central Bank issued its fifth series of banknotes for circulation. Included in this series is the 200 riyal banknote. The front side of the notes share a common design based on traditional geometric patterns, the Flag of Qatar, Qatari flora and a gate representing historic Qatari architecture.

File:عملة قطر 22 ريالا بخط عبيدة البنكي.jpg

Qatar issued a commemorative 22 riyal note for the 2022 FIFA World Cup.

class="wikitable" style="font-size: 90%"

!colspan=8| First series (1973–76)

colspan=2| Imagerowspan=2| Valuerowspan=2| Main Colorcolspan=2| Descriptioncolspan=2| Date of
ObverseReverseObverseReverseIssueWithdrawn
|

| QR 1

| Red

| rowspan=6 | Coat of arms of Qatar

| Port of Doha

| rowspan=3 | May 19, 1973

| rowspan=6 | Unknown

|

| QR 5

| Brown and Purple

| National museum

|

| QR 10

| Green

| Qatar Monetary Agency building

|

| QR 50

| Blue

| Oil rig

| 1976

|

| QR 100

| rowspan=2 | Olive Green

| Ministry of Finance

| rowspan=2 | May 19, 1973

|

| QR 500

| Mosque of the Sheikhs

class="wikitable" style="font-size: 90%"

!colspan=8| Second series (1981)

colspan=2| Imagerowspan=2| Valuerowspan=2| Main Colorcolspan=2| Descriptioncolspan=2| Date of
ObverseReverseObverseReverseIssueWithdrawn
|

| QR 1

| Brown

| rowspan=6 | Coat of arms of Qatar

| Doha (Then changed to Dhow, Ministry of Finance, Emir's palace since 1985)

| rowspan=6 | July 7, 1981

| rowspan=6 | Unknown

|

| QR 5

| Purple, Red, Green and Blue

| Sheep

|

| QR 10

| Green and Yellow

| National museum

|

| QR 50

| Blue

| Furnace in steel factory

|

| QR 100

| Olive Green

| Qatar Central Bank building

|

| QR 500

| Green and Blue

| Oil rig

class="wikitable" style="font-size: 90%"

!colspan=8| Third series (1996)

colspan=2| Imagerowspan=2| Valuerowspan=2| Main Colorcolspan=2| Descriptioncolspan=2| Date of
ObverseReverseObverseReverseIssueWithdrawn
|

| QR 1

| Brown

| rowspan=6 | Coat of arms of Qatar

| Dhow, Ministry of Finance, Emir's palace

| rowspan=6 | June 22, 1996

| rowspan=6 | Unknown

|

| QR 5

| Purple, Red, Green and Blue

| Sheep

|

| QR 10

| Green and Yellow

| National museum

|

| QR 50

| Blue

| Furnace in steel factory

|

| QR 100

| Olive Green

| Qatar Central Bank building

|

| QR 500

| Green and Blue

| Oil rig

class="wikitable" style="font-size: 90%"

!colspan=8| Fourth series (2003)

colspan=2| Imagerowspan=2| Valuerowspan=2| Main Colorcolspan=2| Descriptioncolspan=2| Date of
ObverseReverseObverseReverseIssueWithdrawn
|

| QR 1

| Gray & Blue

| rowspan=6 | Coat of arms of Qatar

| A European bee-eater, a crested lark, and a kentish plover.

| rowspan=6 | June 15, 2003

| rowspan=4 | July 1, 2021

|

| QR 5

| Green

| National Museum of Qatar, Camel, oryxes

|

| QR 10

| Orange

| Dhow, Sand Dunes

|

| QR 50

| Pink

| The Pearl Monument and a view of the Qatar Central Bank building

|

| QR 100

| Green & Gold

| Old Mosque and Al-Shaqab Institute

| rowspan=2 | June 15, 2009

|

| QR 500

| Blue

| Falcon, with a view of the Amiri Diwan of Qatar which serves as the government building for the State of Qatar

class="wikitable" style="font-size: 90%"

!colspan=8| Revised Fourth series (2007-2008)

colspan=2| Imagerowspan=2| Valuerowspan=2| Main Colorcolspan=2| Descriptioncolspan=2| Date of
ObverseReverseObverseReverseIssueWithdrawn
|

| QR 1

| Gray & Blue

| rowspan=6 | Coat of arms of Qatar

| A European bee-eater, a crested lark, and a kentish plover.

| rowspan=4 | September 15, 2008

| rowspan=6 | July 1, 2021

|

| QR 5

| Green

| National Museum of Qatar, Camel, oryxes

|

| QR 10

| Orange

| Dhow, Sand Dunes

|

| QR 50

| Pink

| The Pearl Monument and a view of the Qatar Central Bank building

|

| QR 100

| Green & Gold

| Old Mosque and Al-Shaqab Institute

| rowspan=2 | September 26, 2007

|

| QR 500

| Blue

| Falcon, with a view of the Amiri Diwan of Qatar which serves as the government building for the State of Qatar

class="wikitable" style="font-size: 90%"

!colspan=8| Fifth series (2020)

colspan=2| Imagerowspan=2| Valuerowspan=2| Main Colorcolspan=2| Descriptioncolspan=2| Date of
ObverseReverseObverseReverseIssueWithdrawn
|

| QR 1

| Green

| rowspan=7 | Flag of Qatar; Dreama flower; gate representing historical Qatari architecture

| Traditional Dhow (Bateel) and the Oyster and Pearl Monument

| rowspan=7 | December 18, 2020

| rowspan=7 | Current

|

| QR 5

| Brown

| Traditional desert scene comprising fauna (Arab horses, Camel, Oryxes), flora (Al Qataf) and ‘hair tent (buryuut hajar)

|

| QR 10

| Blue

| Lusail Stadium, Torch Tower (Aspire Zone), Sidra Medicine and Education City (Qatar Foundation)

|

| QR 50

| Red

| Qatar Central Bank building and Ministry of Finance building

|

| QR 100

| Cyan

| Abu Al Qubaib Mosque

|

| QR 200

| Orange

| Palace of Sheikh Abdullah bin Jassim Al Thani, Qatar National Museum and Museum of Islamic Art

|

| QR 500

| Violet

| Ras Laffan LNG refinery and LNG canter ship

class="wikitable" style="font-size: 90%"

!colspan=8| Commemorative Banknotes

colspan=2| Imagerowspan=2| Valuerowspan=2| Main Colorcolspan=2| Descriptioncolspan=2| Date of
ObverseReverseObverseReverseIssueWithdrawn
|

| QR 22

| Brown, green, blue, orange, and purple

| Doha, Lusail Stadium

| Tower, dhow, Al Bayt Stadium, globe

| November 9, 2022

| Current

Fixed exchange rate

The Qatari riyal is pegged to the US dollar at a fixed exchange rate of US$1 = QR 3.64. This rate was enshrined into Qatari law by Royal Decree No.34 of 2001, signed by Hamad bin Khalifa Al Thani, Emir of Qatar, on 9 July 2001.

Article (1) states that the Qatari riyal exchange rate shall be pegged against the US dollar at QR 3.64, and sets upper and lower limits of QR 3.6415 and QR 3.6385 for the Qatar Central Bank's purchase and sale of dollars with banks operating in Qatar. Article (2) provides the Qatar Central Bank with the authority to determine the volume and the time of sale of US dollars and the associated conditions of such sales and payments. Article (3) cancels the earlier Royal Decree No.60 of 1975, by which the riyal was officially pegged to the IMF's special drawing rights (SDRs).Qatar Central Bank: Instructions to Banks, Volume 1{{cite web|url=http://www.qcb.gov.qa/English/PolicyFrameWork/ExchangeRatePolicy/Pages/ExchangeRatePolicy.aspx|title=Qatar Central Bank - Exchange Rate Policy|website=www.qcb.gov.qa|access-date=20 April 2018}}{{cite web |url=http://users.erols.com/kurrency/asia.htm |title=Tables of modern monetary history: Asia |last=Schuler |first=Kurt |date= 29 February 2004|archive-url=https://web.archive.org/web/20070219231722/http://users.erols.com/kurrency/asia.htm |archive-date=February 19, 2007 }} {{Exchange rate|QAR|INR|KRW| note=Rates obtained from these websites may contradict with pegged rate mentioned above}}

= Effect of the 2017 Qatar diplomatic crisis =

In response to the 2017 Qatar diplomatic crisis, banks in the countries blockading Qatar had to stop trading with Qatari banks. This led to a fall in liquidity offshore and a move away from the fixed exchange rate outside of Qatar, with up to QR 3.81 being required to buy 1 US dollar in late June 2017,{{cite news|url=https://www.cnbc.com/2017/06/28/reuters-america-qatar-riyal-fx-market-in-chaos-but-bankers-believe-peg-still-solid.html |title=Qatar riyal FX market in chaos but bankers believe peg still solid |first1=Andrew |last1=Torchia |first2=Tom |last2=Arnold |first3=Stanley |last3=Carvalho |date=28 June 2017|work=CNBC |access-date=20 April 2018 |archive-url=https://web.archive.org/web/20171107025528/https://www.cnbc.com/2017/06/28/reuters-america-qatar-riyal-fx-market-in-chaos-but-bankers-believe-peg-still-solid.html |archive-date=2017-11-07}} a situation that continued until December 2017.{{cite web|url=https://financialtribune.com/articles/world-economy/74736/qatar-s-key-concern-remains-on-funding-side|title=Qatar's Key Concern Remains on Funding Side|date=22 October 2017|website=financialtribune.com|access-date=20 April 2018}}{{cite web|url=http://www.xe.com/currencycharts/?from=USD&to=QAR&view=1Y|title=XE: USD / QAR Currency Chart. US Dollar to Qatari Riyal Rates|website=www.xe.com|access-date=20 April 2018}}

This also led to cessation of trading of Qatari banknotes outside of Qatar with certain banks in certain countries such as the UK.{{cite news |url=https://www.reuters.com/article/gulf-qatar-currency/several-uk-banks-stop-selling-qatar-riyals-as-diplomatic-crisis-mounts-idUSL8N1JR3JA |title=Several UK banks stop selling Qatar riyals as diplomatic crisis mounts |website=reuters.com |date=30 June 2017 |access-date=20 April 2018}}

Within Qatar itself, however, the Central Bank of Qatar has continued to buy and sell US dollars at the fixed rate.

See also

References

{{Reflist}}

External links

  • [http://www.bis-ans-ende-der-welt.net/Katar-B-En.htm The banknotes of Qatar] {{in lang|en|de}}

{{n-start}}

{{n-before|rowspan=2|currency=Saudi riyal|reason=delivery of local currency|ratio=1.065 Qatari and Dubai riyal = 1 Saudi riyal, or 1 Qatari and Dubai riyal = 1 pre-devalued Gulf rupee}}

{{n-currency|location=Qatar|start=1966|end=1973}}

{{n-after|currency=Qatari riyal|reason=withdrawal of Dubai from common currency|ratio=at par}}

{{n-currency|location=Trucial States except for Abu Dhabi|start=1966|end=1973}}

{{n-after|currency=United Arab Emirates dirham|reason=formed United Arab Emirates (in 1971)|ratio=at par}}

{{n-before|currency=Qatari and Dubai riyal|reason=withdrawal of Dubai from common currency|ratio=at par}}

{{n-currency|location=Qatar|start=1973|}}

{{End}}

{{Currencies of Asia}}

{{Portal bar|Asia|Money|Numismatics}}

{{DEFAULTSORT:Qatari Riyal}}

Category:Fixed exchange rate

Category:Currencies introduced in 1973

Riyal

Category:Currencies of Asia

Category:Circulating currencies