First Issue of Qatari Riyal: From 1973-1981

The Qatar Monetary Agency was created by Law No. 7 of 19 May 1973. According to this Law, the First Issue of the Qatari Riyal was put to circulation, carrying the same gold equivalence of the Qatar-Dubai Riyal, i.e., 0.186621 grams of fine gold per Riyal.

Currency: The Qatari Riyal (QR), First Issue

Issuer: Qatar Monetary Agency

Exchange Rate Regime: Linked to the USD from May 1973 until 1975, and then linked to SDRs from 1975 to 1981.

Exchange Rate: QR 3.93 – 3.99 per USD over the period May 1973-1975, and then when the link switched to the SDRs, the rate was equal to QR 4.7619± 2.25% per SDR over the period 1975-1981.

Period of circulation: 19 May 1973 – 25 October 1981.

Currency denominations: Five-Hundred Riyals, One-Hundred Riyals, Fifty Riyals, Ten Riyals, Five Riyals, and One Riyal.

Coin denominations: Fifty Dirhams, Twenty-Five Dirhams, Ten Dirhams, and Five Dirhams

(100 Dirhams = One QR).

Deadline of cancellation: 10 April 1996

"1" Qatari Riyal