The Qatari riyal (sign: QR in Latin,[1] ر.ق in Arabic; ISO code: QAR) is the currency of the State of Qatar.

[citation needed] On September 18, 1966, the Qatar & Dubai Currency Board introduced notes for 1, 5, 10, 25, 50, and 100 riyals.

All coins and notes issued by the Qatar Monetary Agency became the property of the bank but continued to circulate for several years.

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 (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).

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,[9] a situation that continued until December 2017.

[10][11] This also led to cessation of trading of Qatari banknotes outside of Qatar with certain banks in certain countries such as the UK.