Whether a person is moving permanently or temporarily to Doha, it is important to understand what the Qatar currency is and the current exchange rates. While in Qatar, every aspect of one’s stay is dependent on having the correct money in hand. This knowledge will make it easier for travelers to convert foreign currencies, such as the United States dollar, to the accepted Doha, Qatar currency. Understanding and having the correct currency in Doha, Qatar will help new residents when looking for an affordable home or apartment to purchase or rent. It is also crucial for making important financial transactions, such as paying for a commercial rental for one’s new business venture.
The official currency in Doha, Qatar is the riyal. It is available in one, five, ten, fifty, one hundred, and five hundred riyal paper banknotes. In Qatar, one riyal is equal to one hundred dirhams. Dirhams, which are also a unit of currency in Qatar, are available as coins worth twenty and fifty dirhams. As important as knowing what the currency is, it is equally important to know what the exchange rate is. While currency may be exchanged at any of the seventeen national and foreign banks in Qatar, one can also exchange currency at the various exchange centers that are located in shopping malls or in the area’s larger hotels.
When living in Doha, it is also important to understand Qatar’s banking industry. Opening a bank account is a wise move for anyone who is staying in Doha long-term. It allows for easier and more convenient access to one’s money when it is needed. In order to open up a bank account in Doha a person must have and present proof that confirms they have a sponsor or employment. One will also need to present their residence permit and a statement that verifies a monthly salary that is paid in Qatar currency.
While in Doha, Qatar currency is necessary for making purchases and it is also important to have the proper type on hand. For example, checks are extremely rare in Doha, so people will need to have access to either banknotes or a credit card. People should expect that their store purchases will be rounded off to the nearest riyal. This happens because dirhams are in limited supply in Qatar. When out shopping in stores, most establishments have a preference for payment in cash over credit; however, they are typically not able to accept payment in larger bills, such as QR 100 or greater. One’s best course of action while shopping and carrying currency in Doha, Qatar, is to keep a number of smaller riyal on hand for purchases made in shopping malls and other stores.
One of the many benefits of having one’s finances in order and in understanding how to use the currency of Doha, Qatar is the ability to use it to buy the things that one desires. Property is often one of these things, and COREO can help. We are a real estate agency that offers a wide range of services, including rental property and property to buy. We offer apartments, townhouses, villas, and commercial and residential property in any of Qatar’s major real estate areas. We offer our clients and future clients the opportunity to browse our real estate offerings online, here on our website.
Upon moving to Doha, there are numerous adjustments that will need to be made in order to acclimate. Understanding and using the currency of Doha, Qatar is one of the main changes to which one must adjust. Having the right currency on hand will help when it comes to making important decisions like buying or renting property. Although we cannot help you with all of your financial needs, we can help when it comes to finding and purchasing real estate property in Qatar. Contact COREO today by email or phone and let us answer any question that you may have.