The Qatari Riyal is the official currency of Qatar, abbreviated as QAR in forex markets. It is pegged to the U.S. dollar at a fixed rate of approximately 3.64 QAR per USD, providing stability for trade and investment in the region.
Example
“A forex trader analyzing Middle Eastern currencies would note that USD/QAR trades in a very narrow range due to its fixed dollar peg, making it far less volatile than free-floating currency pairs.”