# Qatari riyal

The Qatari riyal (sign: QR in Latin, ر.ق in Arabic; ISO code: QAR) is the currency of the State of Qatar. It is divided into 100 dirhams (Arabic: درهم).

## History

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.
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. 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 The old notes continued to circulate in parallel for 90 days, at which time they were withdrawn.

## 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.
| Image | Image | Value | Diameter | Mass | Composition | Edge | Obverse | Reverse | Year of | Year of |
| Obverse | Reverse | Value | Diameter | Mass | Composition | Edge | Obverse | Reverse | first minted | withdrawal |
| | | 1 dirham | 15 mm | 1.4 g | Copper-clad Steel | Smooth | Mintage dates both the Gregorian and Lunar Hijri calendars on top, the Emblem of Qatar at the center, and the lettering: "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 "درهم", and below that is the lettering "STATE OF QATAR" | 1973 | |
| | | 5 dirhams | 22 mm | 2.83 g | Copper-clad Steel | Smooth | Mintage dates in both the Gregorian and Lunar Hijri calendars on top, the Emblem of Qatar at the center, and the lettering: "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 "دراهم", and below that is the lettering "STATE OF QATAR" | 1973 | |
| | | 10 dirhams | 27 mm | 7.52 g | Copper-clad Steel | Smooth | Mintage dates in both the Gregorian and Lunar Hijri calendars on top, the Emblem of Qatar at the center, and the lettering: "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 "دراهم", and below that is the lettering "STATE OF QATAR" | 1973 | |
| | | 25 dirhams | 20 mm | 3.2 g | Nickel-clad Steel | Reeded | Mintage dates in both the Gregorian and Lunar Hijri calendars on top, the Emblem of Qatar at the center, and the lettering: "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 "درهماً", and below that is the lettering "STATE OF QATAR" | 1973 | |
| | | 50 dirhams | 25 mm | 5.8 g | Nickel-clad Steel | Reeded | Mintage dates in both the Gregorian and Lunar Hijri calendars on top, the Emblem of Qatar at the center, and the lettering: "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 "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. 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.
Qatar issued a commemorative 22 riyal note for the 2022 FIFA World Cup.
First series (1973–76) :
| Image | Image | Value | Main Color | Description | Description | Date of | Date of |
| Obverse | Reverse | Value | Main Color | Obverse | Reverse | Issue | Withdrawn |
| | | QR 1 | Red | Coat of arms of Qatar | Port of Doha | May 19, 1973 | Unknown |
| | | QR 5 | Brown and Purple | Coat of arms of Qatar | National museum | May 19, 1973 | Unknown |
| | | QR 10 | Green | Coat of arms of Qatar | Qatar Monetary Agency building | May 19, 1973 | Unknown |
| | | QR 50 | Blue | Coat of arms of Qatar | Oil rig | 1976 | Unknown |
| | | QR 100 | Olive Green | Coat of arms of Qatar | Ministry of Finance | May 19, 1973 | Unknown |
| | | QR 500 | Olive Green | Coat of arms of Qatar | Mosque of the Sheikhs | May 19, 1973 | Unknown |
Second series (1981) :
| Image | Image | Value | Main Color | Description | Description | Date of | Date of |
| Obverse | Reverse | Value | Main Color | Obverse | Reverse | Issue | Withdrawn |
| | | QR 1 | Brown | Coat of arms of Qatar | Doha (Then changed to Dhow, Ministry of Finance, Emir's palace since 1985) | July 7, 1981 | Unknown |
| | | QR 5 | Purple, Red, Green and Blue | Coat of arms of Qatar | Sheep | July 7, 1981 | Unknown |
| | | QR 10 | Green and Yellow | Coat of arms of Qatar | National museum | July 7, 1981 | Unknown |
| | | QR 50 | Blue | Coat of arms of Qatar | Furnace in steel factory | July 7, 1981 | Unknown |
| | | QR 100 | Olive Green | Coat of arms of Qatar | Qatar Central Bank building | July 7, 1981 | Unknown |
| | | QR 500 | Green and Blue | Coat of arms of Qatar | Oil rig | July 7, 1981 | Unknown |
Third series (1996) :
| Image | Image | Value | Main Color | Description | Description | Date of | Date of |
| Obverse | Reverse | Value | Main Color | Obverse | Reverse | Issue | Withdrawn |
| | | QR 1 | Brown | Coat of arms of Qatar | Dhow, Ministry of Finance, Emir's palace | June 22, 1996 | Unknown |
| | | QR 5 | Purple, Red, Green and Blue | Coat of arms of Qatar | Sheep | June 22, 1996 | Unknown |
| | | QR 10 | Green and Yellow | Coat of arms of Qatar | National museum | June 22, 1996 | Unknown |
| | | QR 50 | Blue | Coat of arms of Qatar | Furnace in steel factory | June 22, 1996 | Unknown |
| | | QR 100 | Olive Green | Coat of arms of Qatar | Qatar Central Bank building | June 22, 1996 | Unknown |
| | | QR 500 | Green and Blue | Coat of arms of Qatar | Oil rig | June 22, 1996 | Unknown |
Fourth series (2003) :
| Image | Image | Value | Main Color | Description | Description | Date of | Date of |
| Obverse | Reverse | Value | Main Color | Obverse | Reverse | Issue | Withdrawn |
| | | QR 1 | Gray & Blue | Coat of arms of Qatar | A European bee-eater, a crested lark, and a kentish plover. | June 15, 2003 | July 1, 2021 |
| | | QR 5 | Green | Coat of arms of Qatar | National Museum of Qatar, Camel, oryxes | June 15, 2003 | July 1, 2021 |
| | | QR 10 | Orange | Coat of arms of Qatar | Dhow, Sand Dunes | June 15, 2003 | July 1, 2021 |
| | | QR 50 | Pink | Coat of arms of Qatar | The Pearl Monument and a view of the Qatar Central Bank building | June 15, 2003 | July 1, 2021 |
| | | QR 100 | Green & Gold | Coat of arms of Qatar | Old Mosque and Al-Shaqab Institute | June 15, 2003 | June 15, 2009 |
| | | QR 500 | Blue | Coat of arms of Qatar | Falcon, with a view of the Amiri Diwan of Qatar which serves as the government building for the State of Qatar | June 15, 2003 | June 15, 2009 |
Revised Fourth series (2007-2008) :
| Image | Image | Value | Main Color | Description | Description | Date of | Date of |
| Obverse | Reverse | Value | Main Color | Obverse | Reverse | Issue | Withdrawn |
| | | QR 1 | Gray & Blue | Coat of arms of Qatar | A European bee-eater, a crested lark, and a kentish plover. | September 15, 2008 | July 1, 2021 |
| | | QR 5 | Green | Coat of arms of Qatar | National Museum of Qatar, Camel, oryxes | September 15, 2008 | July 1, 2021 |
| | | QR 10 | Orange | Coat of arms of Qatar | Dhow, Sand Dunes | September 15, 2008 | July 1, 2021 |
| | | QR 50 | Pink | Coat of arms of Qatar | The Pearl Monument and a view of the Qatar Central Bank building | September 15, 2008 | July 1, 2021 |
| | | QR 100 | Green & Gold | Coat of arms of Qatar | Old Mosque and Al-Shaqab Institute | September 26, 2007 | July 1, 2021 |
| | | QR 500 | Blue | Coat of arms of Qatar | Falcon, with a view of the Amiri Diwan of Qatar which serves as the government building for the State of Qatar | September 26, 2007 | July 1, 2021 |
Fifth series (2020) :
| Image | Image | Value | Main Color | Description | Description | Date of | Date of |
| Obverse | Reverse | Value | Main Color | Obverse | Reverse | Issue | Withdrawn |
| | | QR 1 | Green | Flag of Qatar; Dreama flower; gate representing historical Qatari architecture | Traditional Dhow (Bateel) and the Oyster and Pearl Monument | December 18, 2020 | Current |
| | | QR 5 | Brown | Flag of Qatar; Dreama flower; gate representing historical Qatari architecture | Traditional desert scene comprising fauna (Arab horses, Camel, Oryxes), flora (Al Qataf) and ‘hair tent (buryuut hajar) | December 18, 2020 | Current |
| | | QR 10 | Blue | Flag of Qatar; Dreama flower; gate representing historical Qatari architecture | Lusail Stadium, Torch Tower (Aspire Zone), Sidra Medicine and Education City (Qatar Foundation) | December 18, 2020 | Current |
| | | QR 50 | Red | Flag of Qatar; Dreama flower; gate representing historical Qatari architecture | Qatar Central Bank building and Ministry of Finance building | December 18, 2020 | Current |
| | | QR 100 | Cyan | Flag of Qatar; Dreama flower; gate representing historical Qatari architecture | Abu Al Qubaib Mosque | December 18, 2020 | Current |
| | | QR 200 | Orange | Flag of Qatar; Dreama flower; gate representing historical Qatari architecture | Palace of Sheikh Abdullah bin Jassim Al Thani, Qatar National Museum and Museum of Islamic Art | December 18, 2020 | Current |
| | | QR 500 | Violet | Flag of Qatar; Dreama flower; gate representing historical Qatari architecture | Ras Laffan LNG refinery and LNG canter ship | December 18, 2020 | Current |
Commemorative Banknotes :
| Image | Image | Value | Main Color | Description | Description | Date of | Date of |
| Obverse | Reverse | Value | Main Color | Obverse | Reverse | Issue | Withdrawn |
| | | 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).
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, a situation that continued until December 2017.
This also led to cessation of trading of Qatari banknotes outside of Qatar with certain banks in certain countries such as the UK.
Within Qatar itself, however, the Central Bank of Qatar has continued to buy and sell US dollars at the fixed rate.