Foreign Exchange Guide to Qatar
In this guide we review :
- Qatari rial info - general info about the Qatari rial
- Buying Qatari rial cash online - travel money for Qatar
- Sending money to Qatar - save on Qatari rial bank transfers to Qatar
- Qatari rial exchange rates - latest info & charts.
Qatari rial (QAR) general currency information
Qatar Trip Checklist
Travel money for Qatar
Save money and time by Ordering your Qatari rial online from Travelex, you get better rates and can pick up the QAR cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Qatari rial otherwise you may get much worst exchange rates.
Sending money to Qatar
The Qatari riyal (QAR) is fully convertible, and Qatar does not restrict overseas transfers of funds from capital gains, interest, dividends, royalties or management fees. The Qatari riyal has been pegged to the US dollar (USD) at a rate of QR3.64 per US$1 since 1980.
When sending money to Qatar it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Qatari rial amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted QAR amount will be transfered to the recipient account you specify in Qatar.
By comparing the rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Qatari rial deposited into the recipient bank account in Qatar and less margins and fees kept by the banks!