The Qatari riyal (; sign: QR in Latin, in Arabic; ISO code: QAR) is the official currency of the State of Qatar. Each riyal, the base unit, is divided into 100 dirhams ().
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.
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 The old notes continued to circulate in parallel for 90 days, at which time they were withdrawn.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 Value Diameter Mass Composition Edge Obverse Reverse Year of 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: "" 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 "", 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: "" 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 "", 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: "" 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 "", 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: "" 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 "", 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: "" 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 "", 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. The fifth series was revised since 2025 to improve the banknotes, starting from the 1 riyal banknote on July 2, 2025.
Qatar issued a commemorative 22 riyal note for the 2022 FIFA World Cup.
First series (1973–76) Image Value Main Color Description Date of Obverse Reverse Obverse Reverse Issue Withdrawn QR 1 Red Coat of arms of Qatar Port of Doha May 19, 1973 Unknown QR 5 Brown and Purple National museum QR 10 Green Qatar Monetary Agency building QR 50 Blue Oil rig 1976 QR 100 Olive Green Ministry of Finance May 19, 1973 QR 500 Mosque of the Sheikhs
Second series (1981) Image Value Main Color Description Date of Obverse Reverse 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 Sheep QR 10 Green and Yellow National museum QR 50 Blue Furnace in steel factory QR 100 Olive Green Qatar Central Bank building QR 500 Green and Blue Oil rig
Third series (1996) Image Value Main Color Description Date of Obverse Reverse 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 Sheep QR 10 Green and Yellow National museum QR 50 Blue Furnace in steel factory QR 100 Olive Green Qatar Central Bank building QR 500 Green and Blue Oil rig
Fourth series (2003) Image Value Main Color Description Date of Obverse Reverse 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 National Museum of Qatar, Camel, oryxes QR 10 Orange Dhow, Sand Dunes QR 50 Pink The Pearl Monument and a view of the Qatar Central Bank building QR 100 Green & Gold Old Mosque and Al-Shaqab Institute June 15, 2009 QR 500 Blue Falcon, with a view of the Amiri Diwan of Qatar which serves as the government building for the State of Qatar
Revised Fourth series (2007-2008) Image Value Main Color Description Date of Obverse Reverse 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 National Museum of Qatar, Camel, oryxes QR 10 Orange Dhow, Sand Dunes QR 50 Pink The Pearl Monument and a view of the Qatar Central Bank building QR 100 Green & Gold Old Mosque and Al-Shaqab Institute September 26, 2007 QR 500 Blue Falcon, with a view of the Amiri Diwan of Qatar which serves as the government building for the State of Qatar
Fifth series (2020) Image Value Main Color Description Date of Obverse Reverse 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 Traditional desert scene comprising fauna (Arab horses, Camel, Oryxes), flora (Al Qataf) and ‘hair tent (buryuut hajar) QR 10 Blue Lusail Stadium, Torch Tower (Aspire Zone), Sidra Medicine and Education City (Qatar Foundation) QR 50 Red Qatar Central Bank building and Ministry of Finance building QR 100 Cyan Abu Al Qubaib Mosque QR 200 Orange Palace of Sheikh Abdullah bin Jassim Al Thani, Qatar National Museum and Museum of Islamic Art QR 500 Violet Ras Laffan LNG refinery and LNG canter ship
Commemorative Banknotes Image Value Main Color Description Date of Obverse Reverse 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 Fifth series (revised, 2025–present) Image Value Main Color Description Date of Obverse Reverse 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 July 2, 2025 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).Qatar Central Bank: Instructions to Banks, Volume 1
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.
See also Cooperation Council for the Arab States of the Gulf Economy of Qatar Qatar Central Bank
References
External links The banknotes of Qatar