Qatar operates on the Qatari Riyal, abbreviated QAR or QR, divided into 100 dirhams. The riyal has maintained a fixed peg to the US dollar since 2001 at a rate of 3.64 QAR to 1 USD. This peg replaced an earlier arrangement with the International Monetary Fund's Special Drawing Rights basket that existed from 1975 to 2001. The Qatar Central Bank, established in 1993 as the successor to the Qatar Monetary Agency founded in 1973, maintains this peg through active currency market operations. Physical currency consists of banknotes in denominations of 1, 5, 10, 50, 100, and 500 riyals, though 1 riyal notes are uncommon in daily circulation. Coins exist in denominations of 1, 5, 10, 25, and 50 dirhams, but are rarely used in most transactions. The Central Bank replaced all banknotes in 2020 with a new series featuring advanced security features and contemporary Qatari landmarks including the Doha skyline, National Museum of Qatar, and the Education City Mosque.
Currency exchange in Qatar operates through banks, licensed exchange houses, and hotel facilities. Exchange houses such as Al Fardan Exchange, Doha Bank Exchange, and Qatar Exchange Company maintain numerous branches throughout Doha and other major settlements. These establishments typically offer marginally better rates than hotels and process transactions without commission fees. Banks including Qatar National Bank, Commercial Bank of Qatar, and Doha Bank provide exchange services during standard banking hours, generally Saturday through Thursday 0730 to 1400, with closures on Fridays. Exchange rates at official establishments deviate minimally from the interbank rate for major currencies due to the competitive market. Hotels charge premiums ranging from two to five percent above market rates. Hamad International Airport hosts multiple exchange counters in both arrival and departure terminals, operating continuously with rates approximately one to two percent higher than city center exchange houses.
Automated Teller Machines maintain extensive coverage throughout Qatar. Qatar National Bank alone operates over 300 ATMs across the country. Machines accept Visa, Mastercard, American Express, and cards bearing the GCC net logo for regional Gulf Cooperation Council bank cards. Maximum withdrawal limits vary by bank and card type, typically ranging from 2000 to 7000 QAR per transaction, with daily limits reaching 20000 QAR for local accounts and 7000 QAR for most international cards. International withdrawal fees consist of both the card issuer's fee, typically 2 to 3 percent of the transaction amount plus a fixed charge of 3 to 5 USD, and a local ATM operator fee of 10 QAR per withdrawal at most machines. ATMs at Qatar National Bank and some Commercial Bank of Qatar locations do not impose local operator fees on international cards. All machines display instructions in Arabic and English. ATMs dispense only Qatari Riyal notes, typically in denominations of 50, 100, and 500 riyals.
Credit and debit card acceptance in Qatar reaches saturation levels in formal commercial environments. Hotels, restaurants, shopping malls, supermarkets, and established retail outlets accept Visa and Mastercard universally. American Express and Diners Club acceptance is common but not universal, particularly at smaller establishments. Contactless payment infrastructure has expanded rapidly since 2018, with terminals supporting transactions up to 100 QAR without PIN entry. The traditional Souq Waqif operates primarily on cash, though some vendors have adopted mobile payment terminals. Street food stalls, small grocers in residential neighborhoods, and taxi drivers not operating through corporate fleets expect cash payment. Credit card transactions in Qatar do not typically incur surcharges, as merchant agreements prohibit passing card processing fees to customers. Chip-and-PIN technology is standard, though signature verification remains accepted at locations where terminals lack full EMV capability.
Mobile payment systems have proliferated across Qatar's commercial landscape since 2017. Qatar Central Bank launched its national payment infrastructure, the Qatar Payment System, in 2015, enabling real-time interbank transfers. This infrastructure supports mobile applications including Ooredoo Money from telecommunications provider Ooredoo, and Vodafone Cash from Vodafone Qatar. Both services allow users to maintain Qatari Riyal balances, transfer funds, pay bills, and execute point-of-sale transactions through QR codes. Adoption among merchants intensified after the 2017 diplomatic crisis when Qatar accelerated digital payment infrastructure development to reduce dependence on physical currency logistics. The Qatar Financial Centre launched regulatory frameworks in 2019 permitting licensed fintech companies to operate digital wallet services. International services including Apple Pay, Google Pay, and Samsung Pay function with cards issued by Qatar National Bank, Commercial Bank of Qatar, Doha Bank, and Qatar Islamic Bank. Merchants displaying contactless payment symbols accept these services through the same terminals used for contactless card transactions.
The cost structure in Qatar reflects the country's position as the world's highest per capita income nation, a status it has held intermittently since 2010 according to International Monetary Fund calculations. A mid-range restaurant meal in Doha costs between 40 and 80 QAR per person. A fast-food combination meal at international chains costs 25 to 30 QAR. Street food and small eateries in neighborhoods such as the Old Al Ghanim area offer meals from 10 to 20 QAR. Bottled water costs 1 to 2 QAR from supermarkets, 3 to 5 QAR from convenience stores, and 8 to 15 QAR at hotels and tourist sites. A standard cappuccino at cafes costs 15 to 25 QAR. Supermarket groceries cost comparably to Western European cities, with imported products carrying premiums of 20 to 50 percent over origin country prices. Local produce, particularly dates and items from Qatar's developing agricultural sector, costs significantly less than imports.
Accommodation pricing in Qatar varies substantially by season and event calendar. Following the 2022 FIFA World Cup, hotel inventory increased by approximately 30 percent with the addition of 37000 rooms according to Qatar Tourism Authority figures. Budget hotels and hostels in areas such as Al Mansoura and Najma charge 150 to 250 QAR per night for basic rooms. Mid-range hotels in the West Bay and Corniche areas charge 400 to 800 QAR nightly. Five-star properties including establishments in Lusail and the Pearl-Qatar development charge 1200 to 3000 QAR per night for standard rooms. Apartment rentals through short-term platforms average 350 to 600 QAR nightly for one-bedroom units in central Doha locations. Prices increase by 50 to 100 percent during major events including the Qatar International Food Festival each March and sporting events at the Aspire Zone complex. The summer months of June through August see reductions of 20 to 40 percent as temperatures regularly exceed 42 degrees Celsius and tourism diminishes.
Transportation costs in Qatar center on taxi services and car rentals, as the country maintains limited public transit options outside the Doha Metro system. The Doha Metro, operated by Qatar Rail and opened in phases between 2019 and 2020, charges 2 QAR for standard class tickets covering all journeys within the network's three lines spanning 76 kilometers. Gold class service costs 10 QAR per journey. Taxis using the Karwa brand, operated by Mowasalat, charge 4 QAR flagfall plus 1.20 QAR per kilometer. A journey from Hamad International Airport to central Doha covering approximately 15 kilometers costs 35 to 45 QAR depending on traffic routing. Ride-hailing applications Uber and Careem operate throughout Doha with pricing comparable to Karwa taxis for standard service and premiums of 20 to 30 percent for premium vehicle categories. Rental cars from international agencies including Hertz, Budget, and Europcar cost 80 to 150 QAR daily for economy vehicles, 180 to 300 QAR for mid-size sedans, and 400 to 800 QAR for luxury and large SUV categories. Gasoline costs 1.10 to 1.30 QAR per liter, among the lowest rates globally due to Qatar's petroleum production.