This practice of not buying and selling in
Qatari Riyals is being carried out in the country since three days.
The
Qatari riyal is not among the nine major currencies on the CBE currency exchange screens, which includes the US dollar, the Euro, the British pound sterling, the Swiss franc, the Japanese yen, the Chinese yuan, the Kuwaiti dinar, the UAE's dirham, and the Saudi riyal.
Further, the EGM approved the issue of stand-by securities, which are eligible for listing as part of Tier 2 capital according to Basel III requirements up to a maximum amount of $500 million or its equivalent in
Qatari riyal by way of regular market issuance or private placement.
Finally, Qatar has withdrawn 60 billion
Qatari riyals ($16 billion) from its deposits and borrowed 10 billion riyals ($2.65 billion), meaning it suffers from the lack of liquidity that resulted from the crisis and the Arab boycott.
"I suggest for anyone, who has small amounts of
Qatari riyal, just to keep it," Al Ansari advised.
The Al Jasr (Causeway) Takaful Insurance firm has a paid-up and declared capital of BD25 million (250m
Qatari riyal), with both the countries bearing 50 per cent each.
Satyendra Pathak Doha Eid Al Adha festivities and the recent plunge of Indian currency to a record low level against the dollar-pegged
Qatari riyal have led to a surge in remittances being sent from Qatar to India, according to industry insiders.
MSCI said it has decided to "continue using the local FX rates and not switch to the offshore FX rates for the
Qatari riyal in the MSCI Indexes until further notice." Since the launch of MSCI's consultation on November 21, 2017 on the proposal to use the offshore FX rates for the
Qatari riyal in the MSCI Indexes, the spread between the offshore and local FX rates for the local currency has "substantially" narrowed, and some market participants reported that the level of accessibility of the local FX market has improved.
By: Egypt Today staff CAIRO -- 29 June 2017:
Qatari riyal is no longer accepted in transactions of British branch of the international exchange company Travelex on the currency devaluation, the company announced Thursday.
On the other hand, Qatari banks have used a large portion of this funding to finance typically long-term local projects denominated in
Qatari riyal, resulting in a significant open position in US dollars," said Damak.
