the official currency of qatar is the qatar riyal (QAR or QR) and was introduced in 1973 once qatar gained its full independence. the riyal is found in 1, 10, 50, 100 and 500 note denominations. each riyal is in turn divided into 50, 25, 10, 5 and 1 dirham coins. however, there is an extreme shortage of coins therefore, they are no longer in circulation. not sure why!?! nevertheless, we are happy as it sure makes our wallets MUCH lighter than when we were in the uk!!!
currently, as most gulf states the riyal is pegged to the US dollar. since 1974, the riyal has been set at the fixed rate of 1 USD = 3.64 QR which gives a stable exchange rate but highly undervalues the riyal today!! to give you an idea of the cost of living here in terms of 'everyday items' i have listed a few prices below. as you can see most things are much more inexpensive than london (actually what place isn't?) so a good move on our part. AND it isn't that expensive for visitors from Canada, hint hint!! keep in mind though that the prices in hotel restaurants where alcohol is served can be quite comparable to london prices.
Pint of beer QR 20 (~5.50 CDN/ 2.75 GBP)
Cappuccino QR 13 (~3.00 CDN/ 1.50 GBP)
Cinema ticket QR 30 (~8.00 CDN/ 4.00 GBP)
Eggs QR 4.75 (~1.30 CDN/ 0.65 GBP)
Bread QR 7 (~1.93 CDN/ 0.97 GBP)
Milk (2L) QR 9.75 (~2.70 CDN/ 1.35 GBP)
for those of you who haven't heard, unlike most countries qatar is tax free which means what you earn is ALL YOURS!! :) i must find myself a job...
1 comment:
Hi Mike & Krista,
Hope all is well with you. Thanks for the info on your currency - since the Canadian dollar is at par with the US dollar, we can relate your prices to what we pay here. (Some good deals !!! - especially when we have to add tax to all our stuff.)
love you,
Mom & Dad M
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