Before 1959, the region experienced a trading of number of currencies According to the strategic location of the Gulf region and the development of economic relations and the prosperity of commercial activity between the Gulf countries and many countries. Currencies like Majidi Ottoman Currency, silver French Riyal (Riyal of Maria Teresa), the gold Sterling Pound, and the silver and copper Indian rupee were traded, which strengthened trade relations between Qatar and the countries exporting these currencies.
In 1959, the Government of India, in agreement with the Gulf States, issued a special currency for trading in the Gulf region called Gulf Rupee. The currency was gold equivalent to the Indian rupee traded in India but different in shape where it was marked by a letter "Z" in English and has issued in four categories:
(One rupiah, five rupees, ten rupees and one hundred rupees).
Although the Gulf Rupee had the same trading price as the Sterling Pound and the Indian Rupee, but it was not a legal currency to be traded in India, which caused dissatisfaction to the Gulf traders and gradually got rid of it.
In September 1966, Qatar decided to establish Qatar and Dubai Monetary Council, which was assigned the task of issuing a new currency called "Riyal of Qatar and Dubai" which entered into circulation in September 1966.
Qatar and Dubai continued to trade until the United Arab Emirates was established and Dubai joined them. It issued a new currency called the UAE Dirham in 1973, which resulted in the liquidation of the Qatar
and Dubai Monetary Council and the transfer of its assets and liabilities to the Qatar Monetary Agency which was established under the provisions of Law No. (7) Issued on June 19, 1973. And for the first time Qatar Monetary Agency issued a Qatari currency and the Qatari riyal at that time.
First Edition 1973: One Riyal, 5 riyals, 10 riyals, 50 riyals, 100 riyals, 500 riyals.
Second edition 1983: One Riyal, 5 riyals, 10 riyals, 50 riyals, 100 riyals, 500 riyals.
The third edition 1996: One riyal, 5 riyals, 10 riyals, 50 riyals, 100 riyals, 500 riyals.
The fourth edition (A) 2003: One riyal, 5 riyals, 10 riyals, 50 riyals, 100 riyals, 500 riyals.
The fourth edition (B) 2007, where the transparent window was added to the categories (100, 500) riyals, as well as special specifications were added on the rest of other categories for the poor vision and blind people.