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    Home Information It’s Time to Exchange the Old Bank Notes

    It’s Time to Exchange the Old Bank Notes

    The new Qatari bank notes were released during the National Day in 2020. With the release of the new currency, the Qatar Central Bank announced that the old bills will still be in circulation, and will need to be exchanged. The deadline has been extended until December 21, 2020.

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    Those who want to exchange the money can deposit the bank notes in ATMs, ITMs and bulk deposit machines.

    1 QR
    Photo credit: Qatar Central Bank website

    Money Matters

    Release of the new bank notes has generated interest because of its design and color. If you have not seen the new bank notes yet, here are some facts that you should know:

    • The new bank notes are the fifth series of Qatari currency since it was introduced in September 18, 1966. At the time, it was called the Qatar-Dubai Riyal. On May 13, 1973, the Qatari Riyal became the new currency.
    • QAR 200 is added in the denominations. With the addition of QAR 200, the available denominations are QAR 1, 5, 10, 50, 100, 200, and 500.
    • There are security features added, to prevent counterfeit.  One is the security thread that shows the denominations of each bank note. The appearance of the security thread will also change when the paper bill is tilted. For instance, tilting the paper bill will show changes in the security thread. Other features are hologram and watermark.
    • The denomination and horizontal line prints are slightly embossed to accommodate the needs of blind or visually impaired. It will be easier to identify the bank note just by touching the raised prints.
    • The front design of the bank notes get the inspiration from Qatar traditions. The themes in the note are the Qatari flag, Qatari flora (or Dreama), Qatar architecture, and geometric patterns traditionally seen in the country. Meanwhile, the back designs depict Qatari tradition, religion, culture, flora and fauna, growth in education, sporting events, and growth in economy.

    In this image of QAR 200, we see on the reverse side the Palace of Sheikh Abdullah bin Jassim Al Thani, Qatar National Museum, and Museum of Islamic Art.

    200 QAR
    Photo Credit: Qatar Central Bank website

    Meanwhile, QAR 500 shows the Ras Laffan LNG refinery and LNG canter ship.

    500 QAR
    Photo credit: Qatar Central Bank website

    These new banknotes are now in circulation. But if you still have the previous bank notes, you should exchange these before the December 31, 2021 deadline. Major banks will still accept the old banknotes before the deadline.  Afterwards, the previous currency will no longer have any value. But the holder can still recover the value of the previous currency at the Central Bank within 10 years after the launch of the new banknotes.

    If expats and other holders are experiencing difficulties exchanging their bank notes, they can get in touch with Qatar Central Bank to get the information they need.

    It is also important to note that these bank notes should not be tampered with or torn. Doing so is a criminal act against a national currency. Instead, holders are expected to preserve the bank notes that they have.  Printing and reproduction of bank notes is also a criminal act.

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