Currency - Qatari Riyal (QAR)

Making International Money Transfers in Qatari Riyal

FTT Global offers a competitive exchange rate that is better than your bank’s rate. Plus, we offer a simple, speedy online service and our expert, friendly support team is here for you 24/7 should you need any help. Register for your free FTT account today and transfer money instantly. 

Sign ر.ق / Code QAR

Do you need to make or receive Qatari Riyal payments or transfer Qatari Riyal between accounts? We can help, and save you money.

About the Qatari Riyal

The Riyal is the official currency of Qatar. It was introduced on 21 March 1966. Prior to this, Qatar used the Indian Rupee but when India devalued the Rupee in 1966, Qatar decided to introduce its own currency. Before introducing the Riyal, Qatar briefly adopted the Saudi Riyal. However, following the signing of the Qatar-Dubai currency agreement, both the Qatar and Dubai Riyal were introduced.

In 1980, the Qatari Riyal was pegged to the US Dollar on a fixed regime basis of 1 US Dollar = 3.64 Qatari riyals.This was due to oil being Qatar’s most major export which was purchased with US Dollars. The connection between the currencies has since provided a stable platform for the Qatar economy to operate without too much fluctuation in value.

The economy of Qatar is largely dependent on oil revenues, which amount to 85% of the country’s total income. Qatar is ranked highly among the major oil producing countries in the world. It is also the third major natural gas producing country in the world.

  • Coins are issued in denominations of 1, 5, 10, 25 and 50 Dirham, The banknotes are issued in denominations of 1, 5, 10, 50, 100 and 500 Riyal.
  • The most popular Qatar Riyal exchange rate is the INR to QAR rate.

Our most popular QAR Money Transfers

At FTT Global we accommodate international money transfers in over 30 different foreign currencies. The Qatari Riyal is one of our most popular currency exchanges with the following transfers accounting for many of these trades.

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