Currency in Qatar QAR - Things to know
Foreign exchange guide to Qatar and the Qatari rial
What's in this Qatar currency guide?
What currency is used in Qatar?
The official currency of Qatar (country code: QA) is the Qatari rial, with symbol ﷼ and currency code QAR.
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Things to know about the Qatari rial
The Qatari riyal (QAR) is the official currency of Qatar, a country located in the Middle East. Here are a few things to know about the Qatari riyal:
- The Qatari riyal has been pegged to the US dollar (USD) at a rate of QR3.64 per US$1 since 1980. (1 QAR = 0.275 USD)
- The Qatari riyal is abbreviated as QAR and is divided into 100 dirhams.
- The Qatar Central Bank is responsible for issuing and regulating the Qatari riyal.
- The exchange rate for the Qatari riyal is determined by supply and demand in the foreign exchange market.
- Qatar has a large, diversified economy that is heavily reliant on oil and natural gas exports. The country is the world's largest exporter of liquified natural gas and has the third-largest proven reserves of oil in the world.
- The Qatari riyal has been relatively stable in recent years, but the currency has faced challenges due to fluctuations in global oil prices and economic challenges such as a large budget deficit.
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.
Travel Ideas and Money Tips for Qatar
Qatar is a country located in the Middle East and has its own set of laws and customs that travelers should be aware of. Here are a few things that travelers should know:
It is illegal to consume alcohol in public in Qatar. Alcohol can only be consumed in licensed venues such as hotels and bars.
It is illegal to import or use drugs in Qatar. Penalties for drug offenses can be severe, including imprisonment and fines.
Photography of certain landmarks and government buildings is not allowed in Qatar.
It is illegal to engage in any kind of gambling in Qatar.
Public displays of affection, such as kissing or holding hands, are not allowed and can result in fines or imprisonment.
It is important to dress modestly and respect local customs and traditions. This includes wearing clothing that covers the shoulders and knees in public.
It is illegal to import or use any kind of pornography in Qatar.
The Qatari authorities take cybercrime seriously and have strict laws against online fraud, hacking, and the distribution of illegal or inappropriate content.
It is important to respect the local culture and traditions, including the prohibition on eating, drinking, or smoking in public during the daylight hours of the month of Ramadan.
It is a good idea for travelers to familiarize themselves with the local laws and customs before visiting Qatar to ensure that they do not inadvertently break any laws.
USD/QAR Market Data
The below interactive chart displays the USD/QAR change and UP📈 DOWN📉 trends over the past 1 Year.
Frequently Asked Questions
What currency should I use in Qatar?
The domestic currency in Qatar is the Qatari rial.
What is the Qatari rial currency code and symbol?
The three letter currency code for the Qatari rial is QAR — symbol is ﷼.
Which countries use the Qatari rial?
It is the domestic currency in Qatar.
Is the Qatari rial a closed currency?
No, the Qatari rial is freely available and convertible. See guide: What is a closed currency?
What are equivalent amounts of USD and QAR?
Here are some popular conversion amounts for USD to QAR (US dollar to Qatari rial)*.
*Converted at the current USDQAR interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Send Money to Qatar - Best Rates
To get a good (and fair) exchange rate when sending money to Qatar you need to find and compare exchange rates for International Money Transfers (IMTs).
The available FX rates for sending money abroad can be very different to the mid-market (wholesale) rate which you see reported online and in the News.
You should especially compare your own bank's exchange rates to those available from Money Transfer specialists to see how much you can save - we make that calculation easy in the below table.
Get a better deal for foreign transfers to Qatar
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 4 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.
Use the above calculator to compare the exchange 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 and less margins and fees kept by the banks!
Expat Money & Business Guide to Qatar
Managing your money effectively while living and working abroad can be challenging, but there are several steps you can take to ensure that your finances are in order.
By following these tips and managing your money effectively, you can reduce financial stress and enjoy your experience living or doing business in 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.
Managing your finances in Qatar
Here we list some key points for expats and businesses to consider when managing financial dealings in Qatar:
Understand Qatari rial currency exchange rates: Exchange rates can have a big impact on your finances, so it is important to keep an eye on the QAR exchange rate and consider using a currency exchange service or a credit card that does not charge foreign transaction fees to get the best exchange rate.
Use a local Qatari rial bank account: A local QAR bank account can make it easier for you to manage your finances and pay bills while you are in Qatar. It may also be more convenient to use a local QAR bank account to make purchases and withdraw cash.
Research local laws and regulations: It is important to understand the local laws and regulations that apply to financial transactions in Qatar. This can help you avoid legal issues and ensure that you are complying with local requirements.
Consider the tax implications: It is important to understand the tax implications of living or doing business in Qatar. This can help you plan your finances and ensure that you are paying the correct amount of tax.
Seek financial advice: If you are unsure of how to manage your finances in Qatar, it is a good idea to seek the advice of a financial professional who is familiar with the local financial system. This can help you make informed decisions and avoid financial pitfalls.