Exchange Rates & Regulations
Qatar’s decision to keep its exchange rate pegged to the US dollar was approved by an Emiri Decree issued in July 2001. The policy of the pegging has succeeded in maintaining a stable value of the Qatari Riyal for more than a decade, supporting the economy in avoiding the risks of volatility in prices and rending stability to Qatar’s export earnings, especially in a period of uncertainty about global economic recovery and sentiments prevailing in global financial markets. Further, as most of the export contracts are in dollars, the pegging provides a credible anchor for the stability of the country.
Average exchange rate of QR appreciated against all currencies during 2015 over previous year under review. It appreciated the most against Euro at 19.7% followed by appreciated at the rate of 14.7% against Japanese Yen, by 7.9% against Sterling Pound and by 5.2% against Swiss Franc in 2015.
The end of period exchange rate of QR appreciated against major currencies. During 2015, end of period exchange rate of QR, appreciated against Euro by 11.5% vis-à-vis 13.6% in 2014, showed depreciation of 0.1% vis-à-vis appreciation of 14.5% in 2014 against Japanese Yen, it got appreciated at the rate of 5.3% in 2015 vis-à-vis 5.5% in 2014 for Sterling Pound, appreciated at the rate of 0.3% vis-à-vis 10.9% in 2014 for Swiss Franc. Finally for SDR, QR got appreciated at the rate of 4.6% vis-à-vis 6.3% in 2014.