QAR information
About Qatari Rial (QAR)
The Qatari Rial (QAR), introduced in 1973, is more than just the official currency of Qatar; it is a testament to the nation's economic growth, wealth, and cultural heritage. It is commonly abbreviated as QAR and represented by the symbol ر.ق. Emerging after Qatar gained independence from the British, the Rial replaced the Qatar and Dubai Riyal and marked a new chapter in the country's burgeoning financial landscape.
Historical Background
The introduction of the Qatari Rial was a crucial step in Qatar's journey towards economic self-sufficiency and sovereignty. The currency's establishment coincided with the rapid development of Qatar's oil and gas sectors, propelling the nation into economic prominence. The Rial symbolized not only a new monetary system but also Qatar's emergence as a significant player in the global economy.
Design and Symbolism
The design of the Qatari Rial is a reflection of Qatar's rich history and cultural identity. Banknotes feature imagery of the Qatari flag, traditional dhow boats, and prominent landmarks like the Museum of Islamic Art. These designs serve not only as a medium for financial transactions but also as symbols of Qatar's blend of tradition and modernity, showcasing its journey from a pearling economy to a global energy powerhouse.
Economic Role
The Qatari Rial plays a central role in the nation’s economy, underpinned by one of the world’s largest reserves of oil and natural gas. The currency is instrumental in facilitating trade, both domestically and internationally, and supports various sectors including finance, construction, and a growing service industry.
Monetary Policy and Stability
Managed by the Qatar Central Bank, the Rial is pegged to the US Dollar, reflecting the economic relationship between Qatar and the United States, particularly in the oil sector. This peg provides stability to the Rial, crucial in an economy heavily reliant on hydrocarbon exports, and helps to manage inflation.
International Trade and the Qatari Rial
The stability of the Qatari Rial is vital in international trade, particularly for Qatar's exports of liquefied natural gas (LNG) and petroleum products. A stable Rial is essential for maintaining competitive pricing in global markets and for attracting foreign investment in various sectors.
1MIL to QAR conversion rate trend
Conversion rate comparison of various exchanges
Exchange | Price | Maker / Taker Fee | Tradable |
---|---|---|---|
BitgetBest | ر.ق0 | 0.0200% / 0.0320%VIP 7 |
How to buy 1MillionNFTs
Buy 1MIL (or USDT) for QAR (Qatari Rial) offers
Merchants (trades/completion rate) | Price | Amount/limit Low to high | Payment methods | Zero fees Action |
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Sell 1MIL (or USDT) for QAR (Qatari Rial) offers
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What factors influence the conversion rate of 1MillionNFTs to Qatari Rial?
1MillionNFTs to Qatari Rial is rising this week.Conversion tables
The exchange rate of 1MillionNFTs is decreasing.1MIL to QAR
QAR to 1MIL
Today vs. 24 hours ago
Amount | 20:31 today | 24 hours ago | 24h change |
---|---|---|---|
0.5 1MIL | $0.00 | $0.00 | 0.00% |
1 1MIL | $0.00 | $0.00 | 0.00% |
5 1MIL | $0.00 | $0.00 | 0.00% |
10 1MIL | $0.00 | $0.00 | 0.00% |
50 1MIL | $0.00 | $0.00 | 0.00% |
100 1MIL | $0.00 | $0.00 | 0.00% |
500 1MIL | $0.00 | $0.00 | 0.00% |
1000 1MIL | $0.00 | $0.00 | 0.00% |
Today vs. 1 month ago
Amount | 20:31 today | 1 month ago | 1M change |
---|---|---|---|
0.5 1MIL | $0.00 | $0.005571 | -8.36% |
1 1MIL | $0.00 | $0.01114 | -8.36% |
5 1MIL | $0.00 | $0.05571 | -8.36% |
10 1MIL | $0.00 | $0.1114 | -8.36% |
50 1MIL | $0.00 | $0.5571 | -8.36% |
100 1MIL | $0.00 | $1.11 | -8.36% |
500 1MIL | $0.00 | $5.57 | -8.36% |
1000 1MIL | $0.00 | $11.14 | -8.36% |
Today vs. 1 year ago
Amount | 20:31 today | 1 year ago | 1Y change |
---|---|---|---|
0.5 1MIL | $0.00 | $-0.0007569 | +1.26% |
1 1MIL | $0.00 | $-0.001514 | +1.26% |
5 1MIL | $0.00 | $-0.007569 | +1.26% |
10 1MIL | $0.00 | $-0.01514 | +1.26% |
50 1MIL | $0.00 | $-0.07569 | +1.26% |
100 1MIL | $0.00 | $-0.1514 | +1.26% |
500 1MIL | $0.00 | $-0.7569 | +1.26% |
1000 1MIL | $0.00 | $-1.5139 | +1.26% |
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