Qatari Riyal: Qatar's Currency, the 3.64 Dollar Peg and How to Convert
The Qatari riyal is fixed at QR 3.64 to the US dollar. What the peg means, the conversion math, and the banknote changes Qatar Central Bank announced in June 2026.
If you are moving to Qatar, visiting, or sending money home, the first thing to settle is how the riyal compares with your own money. This guide uses the Qatar Central Bank's published exchange rate policy and its June 2026 note announcement as reported by the Qatar News Agency. We describe where we could not read the primary page.
The 3.64 peg
Qatar Central Bank's exchange rate policy fixes the riyal against the US dollar at QR 3.64 per dollar, as the nominal anchor for its monetary policy. Search results quoting QCB's own documents say the peg was authorized by Amiri Decree No. 34 of 2001 and replaced an earlier link to the IMF's Special Drawing Right, and that QCB buys dollars at QR 3.6385 and sells them to banks at QR 3.6415. We could not open QCB's PDF in this session, so treat the buy and sell figures as reported, not confirmed by us.
Dollar to riyal and back
| US dollars | Qatari riyals |
|---|---|
| 1 | 3.64 |
| 10 | 36.40 |
| 100 | 364 |
| 1,000 | 3,640 |
| Qatari riyals | US dollars (approx.) |
|---|---|
| 10 | 2.75 |
| 100 | 27.47 |
| 500 | 137.36 |
| 1,000 | 274.73 |
These are straight divisions by 3.64. The rate you get from a bank or exchange house will be a little worse, because they add a margin. Check the final amount before you agree to a transfer.
Other currencies
Because the riyal is fixed to the dollar, its value against the euro, pound, rupee, peso or any other currency moves with the dollar. Check a live rate from your bank or exchange house on the day. Do not rely on a rate you saw last month. If you are sending money abroad, see our guide to sending money abroad from Qatar.
Banknotes and coins
Secondary sources say Qatar's fifth series of banknotes came into circulation on 13 December 2020 in 1, 5, 10, 50, 100, 200 and 500 riyal values. The riyal is divided into 100 dirhams. We did not confirm the full list on QCB's own pages.
In June 2026 the Qatar News Agency published a QCB statement that the fifth series 5, 10 and 50 riyal notes would be changed in three ways: the official State emblem, the Arabic numerals and the issue date. QCB said earlier editions of these notes remain in circulation without any effect, and that the same changes would apply to other denominations later. The statement gave no start date.
What this means for you
This is our own advice, not part of QCB's statement.
- If you earn in riyals and pay in dollars, your exchange rate risk against the dollar is small, because the rate is fixed.
- If you remit to another currency, compare the margin across banks and exchange houses, not just the headline rate.
- Check that notes you receive are genuine and in good condition. You do not need to swap older 5, 10 or 50 riyal notes because of the June 2026 announcement, according to QCB.
- For what things cost, see our cost of living in Qatar guide.
Common mistakes
- Comparing only the headline exchange rate and ignoring fees and margins.
- Using an old exchange rate for non-dollar currencies.
- Assuming the peg means banks give the exact 3.64 rate on a transfer.
- Believing old 5, 10 and 50 riyal notes have been withdrawn.
What we could not verify
- QCB's buy and sell rates of QR 3.6385 and QR 3.6415, which we read in search results of its documents, not on the page itself.
- The full list of banknote values and the 2020 issue date, which come from secondary sources.
- Any change to the peg after the sources we read. The peg has stayed at 3.64, according to the sources, but we cannot guarantee it.
- Current margins charged by banks and exchange houses.
Frequently asked questions
What is the exchange rate of the Qatari riyal to the US dollar?
It is fixed at QR 3.64 per US dollar by Qatar Central Bank, so one dollar is 3.64 riyals and one riyal is about 27.5 cents.
Is the Qatari riyal pegged to the dollar?
Yes. Qatar Central Bank's exchange rate policy keeps the riyal at QR 3.64 per US dollar as the anchor for its monetary policy.
Do I need to replace my old 5, 10 or 50 riyal notes?
No. In June 2026 QCB said earlier editions of these notes remain in circulation without any effect, though the new version changes the emblem, Arabic numerals and issue date.
Why is the rate at the exchange house different from 3.64?
Banks and exchange houses add a margin and fees to the official rate. Ask for the final amount you will receive before you agree.
How many dirhams are in a riyal?
The riyal is divided into 100 dirhams, according to general references. We did not confirm this on a QCB page.
Sources & references
Agha Ali Abbas
Founder & Editor
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