The official currency or legal tender of the State of Qatar, a country located on the coast of the Arabian Peninsula, is the Qatari Riyal. The currency code is QAR or QR, and the Qatar Central Bank issues it. The most common denominations in bank notes are one, five, 10, 50, 100, and 500 riyals. Each Riyal is further subdivided into 100 Dirhams which are denominated in coins. The most common coin denominations are one, five, 10, 25, and 50 dirhams. Read to learn about the history of the Riyals and Dirhams and how to convert INR to QAR.
About Qatari Riyals & Dirhams
Qatari Riyal was incorporated in 1973. Prior to that, the country had a long history of currencies. For a long time, Qatar used different currencies which were pegged to the Pound Sterling. These include the Gulf Rupee and Indian Rupees. The Gulf Rupee was issued by the government of India and was similar to the Indian Rupee in terms of value.
In 1966, after India devalued its currency, Qatar and Dubai abandoned the Gulf Rupee and adopted the Saudi Riyal for a brief period until they established their own currency. Later that year, Dubai and Qatar signed a currency agreement to set up the Qatar-Dubai Currency Board, which issued Qatar-Dubai Riyal (QDR), pegged to the pound sterling.
The Qatar-Dubai Riyal was in use until 1973, when Dubai joined UAE, and the currency was abandoned by both Qatar and Dubai. The same year, Qatar Monetary Agency (QMA) was set up as the country's central bank. It issued the new currency, the Qatari Riyal, which was issued at a gold par value of 0.186621 grams of pure gold.
Is QAR pegged to USD?
Yes, QAR is pegged to USD at QAR 3.64 per USD. Prior to pegging it to USD, QAR was pegged to the pound sterling when Qatar-Dubai Riyal was in use. However, when Dubai became a part of the UAE, Qatar issued its own currency, which is the Qatari Riyal (QR), in 1973.
In 1975, the QR was pegged to special drawing rights (SDR) of the International Monetary Fund (IMF) at a rate of 0.21 SDR per QR with a fluctuation margin of ± 2.25%. But gradually, Qatar adopted USD as its intervention currency, and the exchange rate of USD and SDR determined the exchange rate between QR and USD. In 1993, it adopted a fixed exchange rate and pegged its currency to USD at QAR 3.64 per USD.
The currency peg has shielded Qatar from volatility in the energy markets and helped the central bank accumulate and maintain large forex reserves.
How to convert Indian Rupees (INR) to Qatari Riyals (QAR)?
You can convert INR to Qatari Riyals by dividing the Indian Rupees by the QAR INR exchange rate. So, if you want to convert INR 2 lakhs into QAR, you must divide it by the current exchange rate (Rs 22.73).
QAR = 200000/22.73
QAR = 8,800
Therefore, with INR 2 lakhs, you will get 8,800 QAR at the current exchange rate. This keeps changing as the exchange rate keeps fluctuating every minute. If the Rupee depreciates, you will get less QAR for the same INR 2 lakhs. However, if the Rupee appreciates, you will get more QAR for INR 2 lakhs.
The above is a manual conversion of INR to QAR. You can also convert INR to QAR using a currency converter. A currency converter is a tool that helps determine the value of one currency in terms of another currency at the latest exchange rate. Jupiter currency converter is one such tool that makes currency conversions easy and simple.
To use Jupiter’s currency converter tool, you must select the desired currency from the drop-down, in this case, the QAR. Once you select it, enter the value in INR on the right-hand side of the tool. The converter will immediately display the value in QAR at the latest exchange rate.
Using the Jupiter currency converter tool, you can easily estimate the value of any currency in terms of INR and vice versa within seconds.
INR QAR historical exchange rate
Frequently Asked Questions
Can I use an Indian credit card in Qatar?
Yes, you can use Indian credit cards in Qatar. However, it is best to check the charges and fees with your bank before you use them. Usually, international transactions cost more than domestic transactions.
Can I use an Indian debit card in an ATM in Qatar?
Yes, any Visa or Mastercard debit card can be used in Qatar. However, keep in mind that overseas ATMs charge a hefty fee for every cash withdrawal. Moreover, if you want to swipe your debit card, then check whether your bank permits it. Usually, banks have to be intimated before you use the card internationally. To avoid unnecessary fees and all the other hassle with the banks, use a prepaid forex card with Qatari Riyal pre-loaded.
Does Qatar accept Indian currency?
The Qatar airport accepts Indian Rupees. However, inside the country, it is best to use Qatari Riyal.
How much Indian money can I carry in cash from India to Qatar?
The maximum amount of Indian Rupees you can carry from India is Rs 25,000. It is best if you carry some Indian currency and the rest in Qatari Riyal (both cash and card).
Can I use dollars in Qatar?
No, you cannot use US Dollars in Qatar. You can only use them in the airport in the duty-free zone. Inside the country, you must use only Qatari Riyals and Dirhams.
Is the Qatar 50 dirham the same as the 50 dirhams in the UAE?
No, UAE dirhams are not the same as Qatar Dirhams. The Qatar Riyals are divided into dirhams, whereas the UAE dirhams are divided into Fils.
Is there any difference between Omani Rial and Qatari Riyal?
Omani Riyal and Qatari Riyal are two different currencies. Oman, an Arab country's official currency is Omani Rial which is divided into 1000 baisa. On the other hand, Qatar’s currency is the Qatari Riyal which is divided into 100 dirhams.
When did Qatar stop using Gulf Rupees?
After India devalued its currency in 1966, Qatar abandoned Gulf Rupees, which was issued by the Indian government and adopted Saudi Riyal for a brief period. It then introduced the Qatar-Dubai Riyal in 1966, along with Dubai, as its official currency.
List of supported countries
Common currency conversion values at today’s exchange rate:
Commonly used currency terms are:
1 crore which has 7 zeroes - 1,00,00,000
1 Arab which has 9 zeroes - 1,00,00,00,000
1 Kharab which has 11 zeroes - 1,00,00,00,00,000
1 Neel which has 13 zeroes - 1,00,00,00,00,00,000
1 Padma which has 15 zeroes - 1,00,00,00,00,00,00,000
1 million which has 6 zeroes - 1,000,000 (Ten lakh in Indian common currency terms)
1 billion which has 9 zeroes - 1,000,000,000 (One Arab in Indian common currency terms)