Currency profile
Qatari Riyal (QAR)
The Qatari riyal (QAR) is the official currency of Qatar, divided into 100 dirhams. It has been pegged to the US dollar at 3.64 riyals, which makes it one of the most stable currencies in the Gulf.
The Qatari Riyal today
Mid-market · as of 6:12 PM GST
Against the US dollar the riyal is fixed at 3.64, so that figure barely moves; because the UAE dirham is also pegged to the dollar, the riyal-dirham rate is almost fixed too. It is the rate against floating currencies like the rupee that changes.
Exchange-rate regime
Fixed peg to the US dollar. The riyal has been held at 3.64 to the US dollar since 1980, a rate formalised into law by decree in 2001. Qatar Central Bank buys and sells dollars within a narrow band around that rate, so against every floating currency the riyal moves with the dollar.
The issuing central bank
Qatar Central Bank, established in 1993 (succeeding the Qatar Monetary Agency), issues the riyal and maintains the dollar peg.
History
- 1973The Qatari riyal was introduced in 1973, replacing the Qatar and Dubai riyal after Dubai joined the UAE.
- 1980The riyal settled at 3.64 to the US dollar, the rate still in force today.
- 2001The 3.64 dollar peg was formalised into law by decree.
Coins and banknotes
One riyal is divided into 100 dirhams. Coins: Dirhams (notably 25 and 50 dirhams); low-value coins are little used in practice. Banknotes: 1, 5, 10, 50, 100, 200 and 500 riyals, issued by Qatar Central Bank.
Popular Qatari Riyal pairs
What moves it
- Because it is pegged to the US dollar at 3.64, the riyal’s value against other currencies tracks the dollar.
- Qatar Central Bank holds reserves to maintain the peg, which has been stable for decades.
- Qatar hosts a large expatriate workforce, so substantial volumes of riyals are exchanged for remittance currencies (World Bank).
Structural facts reviewed 8 August 2026 · reviewed quarterly. Sources: Qatar Central Bank · World Bank. Live rates are mid-market — see our Methodology and Editorial Policy.