01/01/2021: Launch of a digital currency pilot program
Qatar announced the launch of a pilot program to test the use of a digital currency as part of its efforts to introduce blockchain technology in the financial sector.
22/04/2020: COVID-19 Impact
The COVID-19 pandemic caused disruptions in the Cambodian economy, leading to a decline in the value of the Riel.
05/06/2017: Qatar diplomatic crisis affects the currency
Following the diplomatic crisis and blockade imposed by neighboring countries, the Qatari rial faced volatility and depreciated against major currencies.
27/05/2015: Qatari rial pegged to a basket of currencies
The Qatari rial's peg was diversified to include a basket of currencies, reducing its dependence on the US dollar.
08/06/2001: Creation of the Qatar Central Bank
The Qatar Central Bank was established to replace the Qatar Currency Board and assume the responsibility of regulating the Qatari rial.
04/01/2001: Riel Redenomination
The Cambodian government redenominated the Riel by removing four zeros, making it easier for transactions.
27/07/1997: Qatar Currency Board established
The Qatar Currency Board was established to regulate the issuance and circulation of the Qatari rial and maintain its stability.
20/03/1995: Dollarization
Cambodia officially adopted a dual currency system, allowing the use of both Riel and the United States Dollar.
20/03/1994: Currency Stabilization
Cambodia implemented a new currency stabilization plan to control hyperinflation and stabilize the Riel.
07/01/1979: Liberation of Cambodia
Vietnamese forces liberated Cambodia from the Khmer Rouge, leading to the reestablishment of the Riel.
27/03/1976: Currency pegged to the US Dollar
The Qatari rial was pegged to the US dollar at a fixed exchange rate of 1 USD = 3.64 QAR to stabilize its value and promote trade.
17/04/1975: Khmer Rouge Regime
The Khmer Rouge regime took control of Cambodia, resulting in the abolition of currency and economic collapse.
24/06/1973: Introduction of Qatari Rial
Qatar officially introduced the Qatari rial as its currency, replacing the Gulf rupee at a rate of 1 rial = 1.65 rupees.
11/07/1951: Introduction of the Riel
The Riel was established as the official currency of Cambodia, replacing the French Indochinese Piastre.