Convert NGN to QAR
Related Currency Pairings
| African Currencies | Asian Currencies |
| NGN to DZD NGN to BIF NGN to CDF NGN to GNF | NGN to AZN NGN to BHD NGN to BND NGN to BTN |
| European Currencies | North America Currencies |
| NGN to RON NGN to RSD NGN to SEK NGN to TRY | NGN to GTQ NGN to GYD NGN to HNL NGN to JMD |
7 Facts About the Qatari Rial
The Qatari Rial is the official currency of Qatar.
- Pegged to the US Dollar: The Qatari Rial is pegged to the US Dollar at a fixed exchange rate of 3.64 QAR to 1 USD. This peg provides stability to the currency.
- Strong and Stable Currency: Due to the peg to the US Dollar and Qatar’s substantial oil and gas reserves, the Qatari Rial is considered one of the world’s strongest and most stable currencies.
- Oil-Rich Economy: Qatar’s economy is heavily reliant on oil and gas, and the Rial’s strength is closely tied to oil prices.
- Currency Board System: Qatar operates a currency board system, requiring the Central Bank of Qatar to maintain sufficient foreign exchange reserves to fully back the Rial in circulation.
- High Value: The Qatari Rial is a high-value currency compared to many others, reflecting Qatar’s economic prosperity.
- Subdivisions: The Rial is divided into 100 dirhams.
- Limited International Use: While strong and stable, the Qatari Rial is primarily used within Qatar, with limited acceptance in other countries due to the prevalence of the US Dollar in international transactions.