Qatari Riyal (QAR)

The Qatari riyal (QAR) is the currency of the State of Qatar. It is divided into 100 dirhams (Arabic: درهم). The currency symbol is ﷼. 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.

The Qatari riyal was introduced in 1973, replacing the Gulf rupee, which had been the currency of Qatar since 1959. The first series of Qatari riyal notes were issued in denominations of 1, 5, 10, 50, and 100 riyals. In 1976, a new series of notes was issued, with denominations of 5, 10, 50, 100, 500, and 1000 riyals. The current series of notes was issued in 2006, and includes denominations of 1, 5, 10, 50, 100, 200, and 500 riyals.

Qatari riyal coins were first issued in 1976, in denominations of 25 and 50 dirhams. In 2006, a new series of coins was issued, with denominations of 5, 10, 25, and 50 dirhams.

The Qatari riyal is a relatively strong currency, and is pegged to the US dollar. This makes it a stable currency for international trade and investment. The Qatari riyal is also widely accepted in the other Gulf countries.

Here are some interesting facts about the Qatari riyal:

1.The name "riyal" comes from the Latin word "realis", meaning "royal".

2.The Qatari riyal is the only currency in the world that is written with the Arabic script on the obverse and the Latin script on the reverse.

3.The Qatari riyal is the most valuable currency in the Gulf Cooperation Council (GCC).