Have you noticed the increase of exchange rates recently? If you’re an expat worker in Qatar, now is the best time to send remittances to your home country as most of the currencies today have seen a steady growth in value.

You can quickly and easily check the latest exchange rates in the top expat populations in Qatar from the daily currency rate updates of Qatar Day.

The Qatari Riyal to Indian, Pakistani, Nepali and Sri Lankan Rupees, as well as Bangladeshi Taka and Philippine Peso conversions are always provided by travel money exchange rates available within the foreign exchange markets in this Gulf State.

Below you can see the chart for the rates this week. Each is equivalent to one (1) Qatari Riyal.

The money transfer service providers such as exchange houses, banks and Ooredoo Money are currently open to the public but with coronavirus (COVID-19) safety precautions in place. 

Those who are visiting the in-person money exchange and transfer service offices are advised to follow the COVID-19 protocols to prevent the spread of the virus.

Meanwhile, Qatar banks have advised citizens and expats to exchange old banknotes as the deadline to replace the old Qatari currency draws near. 

So, if you’re heading to the exchange shops to send remittances, make sure to bring the new notes to avoid any delays in your transactions. 

New Qatari Riyals Bank Notes

According to QNB, old banknotes will be accepted by banks until July 1, which is the last date to exchange such notes.

“Be sure to exchange your old banknotes before July 1, 2021. In accordance with the directives of Qatar Central Bank (QCB), the deadline to exchange the old notes will be July 1, 2021,” QCB said on its official Twitter account.

Read also: Exchange old currency before July 1, banks remind customers

What are the new currencies in Qatar?

On December 13 last year, QCB introduced the ‘5th Series of Qatar Riyal Banknotes’ to take effect from December 18. 

The new denomination of QR200 aims to bridge the gap between QR100 and QR500 banknotes.

The new banknotes’ design reflects Qatari tradition, Islamic history, culture, flora and fauna, and development in the field of education, sport and economy. 

Read also: Qatar to use new Qatari Riyal banknotes

Where can I exchange old currency notes?

Banks have made it easier for customers to exchange old notes. Old notes can be deposited in QNB ATMs, ITMs and bulk deposit machines. “The exchange of old notes needs to be done before 1st of July, this year,” QCB added. 

Customers can deposit old notes in the ATMs which are now dispensing new banknotes. Also, the banks have upgraded their ATMs and deposit machines for the new banknotes which have high-security features and new designs.

“According to the instructions of the Qatar Central Bank, QIIB will continue to accept and replace Qatari banknotes with the fourth issue until 01-07-2021,” said QIIB on Twitter.

Until when can I use the old notes?

Old currency notes can be used at commercial outlets (shops, restaurants, etc.) or banks until  the date mentioned above.

What should I do if I fail to exchange old currency after July 1?

QCB had stated that after the deadline, the banknotes of the fourth series will become illegal and indemnified currency, with the holder entitled to recover the value of the remaining notes from the Central Bank within a period not exceeding 10 years from the date of the withdrawal decision.

Several exchange shops in Qatar recommend everyone to go digital for their money transfer needs. Remittance senders are encouraged to download and use their apps to send money to their loved ones without having to go out.