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.
03/11/2020: Economic Impact of COVID-19
The COVID-19 pandemic caused economic disruptions globally, affecting the Egyptian Pound's exchange rate and foreign reserves.
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.
14/11/1999: Liberalization of Exchange Rate
The Egyptian government implemented a managed float exchange rate system, allowing the Pound to fluctuate based on market forces.
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.
12/08/1987: Introduction of New Egyptian Pound
A new Egyptian Pound banknote was introduced to combat counterfeiting and improve security features.
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.
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.
14/09/1962: Devaluation of the Pound
The Egyptian government devalued the Pound by 55%, leading to a significant decrease in its value.
23/07/1952: Overthrow of the Monarchy
The Egyptian monarchy was overthrown, leading to political and economic changes that affected the value of the Egyptian Pound.
02/05/1885: Establishment of Central Bank of Egypt
The Central Bank of Egypt was established to regulate the currency and banking system in Egypt.
29/07/1834: Introduction of Egyptian Pound
The Egyptian Pound was introduced as the official currency of Egypt, replacing the piastre.