Currency in Qatar: QAR Send & Spend FX Guide
Resources for Expats, Travelers, and Entrepreneurs Navigating Life and Trade in Qatar with 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.
What is a good Qatari rial exchange rate?
The BestExchangeRates.com currency comparison table below helps you see the total cost of your currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of rates, enter your transaction type, currencies and amount then click ‘GET RATES’:
Loading rates...
|
|
|
Good 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.
For more QAR information check out our selection of Qatari rial news and guides.
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 ﷼.
What does the Qatari rial look like?
Here is an example Qatari rial banknote:
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 AUD and QAR?
Here are some popular conversion amounts for AUD to QAR (Australian dollar to Qatari rial)*.
*Converted at the current AUDQAR interbank exchange rate. Calculate actual payout amounts for Send Money and Travel Money exchange rates.
Travel money for Qatar
Using Wise for Qatari rial travel money is a smart choice for savvy travelers. With its competitive exchange rates and low fees, Wise allows you to convert and manage multiple currencies effortlessly.
Be careful when using your own bank's Debit/Credit Card, as your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash on top of the standard Visa/Mastercard 2.5% from market mid-rate.
For card purchases, if you are offered a choice of currencies always select to Pay in Qatari rial otherwise you will typically get much worst dynamic currency conversion (DCC) exchange rates.
If you really want Qatari rial cash before departure, you can save money by ordering online. You generally get better rates and can pick up the QAR cash locally or even on travel day at the airport.
Qatar: Travel Guide
Traveling to Qatar requires careful financial planning to ensure a smooth and cost-effective experience. Here's a comprehensive guide to help you navigate currency considerations and manage your money effectively during your visit.
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.
Everyday Costs in in Qatar
How much does it really cost to live, work, or travel in Qatar? Here's what to expect for daily expenses and expat living.
Currency Guide: Qatar (QA)
For travelers planning a 1-week mid-range stay in Qatar, a reasonable budget would be around 4,500 Qatari riyals (QAR), which translates to approximately 1,230 USD. This budget should cover accommodation, meals, transportation, and some leisure activities. Here’s a breakdown of typical daily expenses in Qatar:
- 🥘 Meal at a local restaurant: 40 QAR
- ☕ Coffee: 10 QAR
- 🚍 Public transport fare: 5 QAR
- 📱 Prepaid SIM card: 100 QAR (for a month)
- 🏨 Budget hotel or Airbnb: 300 QAR per night
Travelers will find that Qatar is on the higher side of the expense spectrum compared to other destinations. For context, the overall cost of visiting Qatar is somewhat more expensive than in the United States, especially for dining and accommodation, and also more costly than in the UK, where basic expenses tend to be lower overall.
Expat Living Costs in Qatar
For expats residing in Qatar, typical monthly living expenses can vary widely but generally fall between 10,000 QAR to 20,000 QAR (approximately 2,750 to 5,500 USD), depending on lifestyle choices. This estimate covers rent for a one-bedroom apartment, groceries, utilities, and leisure activities. When managing finances, it's advisable for expats to leverage local banking facilities, but using international policies can provide added flexibility. Most establishments accept credit and debit cards; however, be cautious about foreign transaction fees. As for money transfers, while exchanging cash prior to your trip might seem convenient, using online services like Wise or OFX typically offers better rates and lower fees for sending or receiving larger amounts. Overall, expats will find that maintaining a local bank account while utilizing online transfer services balances convenience with cost-effectiveness.
USD/QAR Market Data
The below interactive chart displays the USD/QAR change and UP📈 DOWN📉 trends over the past 1 Year.
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!
Managing money while living and working in 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.
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 money transfer specialist 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.
We have put together some key points to help 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.