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QAR-USD exchange rate remains stable – QCB

QAR-USD exchange rate remains stable – QCB
The Qatari riyal's exchange rate against the US dollar is stable, the Qatar Central Bank (QCB) said

Doha – Mubasher: The Qatari riyal's exchange rate against the US dollar is stable, the Qatar Central Bank (QCB) said.

Exchanging the QAR in Qatar and abroad will be at the official price, based on data, the QCB added.

Qatar’s central bank said it will ensure that all exchange transactions for customers, both within Qatar and abroad, are carried out without delay. It added that all banks and local exchange companies were committed to exchanging the Qatari currency as usual.

On Tuesday, 27 June, the USD-QAR pair rose to QAR 3.751 in the forward market, Reuters reported.

In early June and after the political dispute between Qatar and some Arab and GCC countries arose, the Qatari riyal fell below its peg to QAR 3.647 per dollar in the spot market, registering its lowest level in eleven years.

On 5 June, Saudi Arabia, Bahrain, Egypt, and the UAE announced cutting their diplomatic ties with Qatar, accusing it of supporting terrorism.