Exchange Rate Policy

ERP-1 - Decree of Qatari Riyal Exchange Rate

Qatar Decree Law No. 34/2001,

Determining the Par Value of Qatari Riyal

We, Hamad Bin Khalifa Al Thani, Amir of the State of Qatar, having seen the amended provisional Statute, particularly articles no. (23) and no. (34); Qatar Decree Law No. 15/1993, establishing Qatar Central Bank, amended by Qatar Law No. 19/1997; Qatar Decree Law No. 22/1993, regulating the Ministry of Finance, Economy and Trade and determining their jurisdictions; Qatar Decree Law No. 60/1975, determining the par value of the Qatari Riyal, and the suggestion of the Minister of Finance, Economy and Trade, and the draft decree submitted by the Cabinet, have decided the following:

Article 1

The Qatari Riyal exchange rate shall be pegged against the US Dollar at (3.64). Qatar Central Bank shall buy the dollar at a rate not exceeding QR 3.6385 and sell the dollar at a rate not exceeding QR 3.6415 to the banks operating in the State of Qatar.

Article 2