Riyal to dollar

hirands
By hirands

I am a Sri Lankan and Joining QP in November. My Salary is quoted in Qatar Riyals in the contract.

I prefer to remit my saving back home in US Dollars.

Can someone help with following queries.

1. Can I freely convert Qatar riyals to US Dollars over the bank counter or through money exchanger?

2. Is there any Cost /Commission involved in this conversion. if so how much.

3. How much QR is needed to buy 1 US Dollar now.

Thanks in advance.

By hirands• 12 years 9 months ago.
hirands

Dear Saggi26,

thank you very much. I actually was thinking the other way around.

1. 1 QAR = 28.50 SLR (buying Rate)

2. 1 US$ = 113.5 SLR (buying Rate)

So if I can convert QAR to US$ free of charge as some one adviced me in one of this forums as possible in City Centre ( I may be badly adviced here). I will gain is'nt it.

Any way every thing depends on QAR to US$ conversion cost.

Thank you again for you advice . It has got me rethinking.

By saggi26• 12 years 9 months ago.
saggi26

Dear Hirands,

It seems you will be out of your country for the first time. Read carefully what I have to say to you.

1. Why do you want to send US dollar to SL ? will you spend in US$ back in SL ? If not then you will loose a lot of money to convert QAR to US $ ( at Qatar ) --- Remit it back to SL ( Remittance fees )-- again convert US$ to SLR ( in Sri Lanka ) ...

2. Better for you is to take the salary in QAR , open a bank account here which has a partner bank in Sri Lanka , ( many options ) and send money instantaneously to your bank in SL through internet transfer .. Current exchange Rate is approx 1 QAR = 31 Sri Lankan Rupee.

Seems like with passage of time and the US$ becomming weaker you may end up getting 1 QAR = 30 - 30.85 Sri Lankan Rupee by this year end.

However if you do QAR to US$ to Sri Lankan rupee you are sure to get the equivalent of 28.5 Sri Lankan rupee due to currency exchange losses ..

Take the right decision....

Cheers

Saggi ( Saggitarius )

By hirands• 12 years 9 months ago.
hirands

Thanks Alsboy

By alsboy• 12 years 9 months ago.
Rating: 5/5
alsboy

Well.. the standard conversion rate is 3.65 Qar = 1 $. You can exchange your money at any of the exchange showrooms in Qatar. Like, Moneyexpress, Western Union or UAE exchnage. The charge variers with each exchange.

By paji• 12 years 9 months ago.
paji

Join QP and everything you asked will be answered....

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