Qatar's Currency: Overview and Key Features

Qatar

One of the Arab countries located in the Arab East, geographically situated in the Arabian Gulf region on the Arabian Peninsula. It is bordered by the Kingdom of Bahrain, the United Arab Emirates, and the Kingdom of Saudi Arabia. Its capital is the city of Doha, and its land area covers 11,521 square kilometers. Qatar is a constitutional hereditary emirate, administratively divided into seven municipalities.

Name of Qatar

The name 'Qatar' originates from Latin, with historical references to 'Kadara', 'Qatar', and 'Ketara'. Human habitation dates back to the late Stone Age, between 8000 BCE and 4000 BCE. The country includes islands such as Al Ashtat, Shara’ah, and Halul. Major cities include Umm Salal, Al Rayyan, and Al Ghuwairiyah. Municipalities include Doha Municipality, North Municipality, Al Wajjaa Municipality, and Al Khawr Municipality. Qatar is a member of several international organizations, including the World Bank, the League of Arab States, the International Finance Corporation, and the International Centre for Settlement of Investment Disputes.

Currency

The official currency is the Qatari Riyal, abbreviated as QAR. One riyal equals 100 dirhams. The currency was introduced on September 18, 1966, initially named the Qatari Riyal and Dubai Riyal. Prior to this, Qatar's currency was linked to the British pound, similar to the Gulf Rupee and Indian Rupee. In 1973, the Qatari-Dubai riyal was withdrawn following Dubai’s inclusion in the UAE federation, and the standalone Qatari Riyal was issued. Coins include 25 and 50 dirhams. Banknotes are available in denominations of 1, 5, 10, 50, and 100 riyals, with a 500-riyal note also in circulation.

Population

As of 2015, the population stood at approximately 2.4 million people. Arabic is the official language, and the majority of residents practice Islam, with smaller communities following Christianity and Hinduism.

Economy

The economy relies on several key sectors: agriculture, producing fruits and vegetables; livestock farming focused on dairy and cheese production; natural gas and oil extraction; industrial activities, particularly oil and petrochemical industries; fishing and marine resource harvesting; and animal husbandry.

Tourist, Archaeological, and Historical Sites

• Zubarah, one of Qatar’s most significant archaeological sites.
• Wakif Market, a traditional marketplace located in the heart of Doha.
• Khor Al-Adaid, situated about 95 kilometers from the capital.
• Museums such as the Museum of Modern Art, the National Museum of Qatar, and the Museum of Islamic Art.
• Silin, located roughly 70 kilometers from the capital city of Doha.