Silver Price Qatar
Qatar is known officially as the State of Qatar. The nation has extensive shoreline alongside the Persian Gulf, and shares its only land border to the south with Saudi Arabia. The Qatari Government is a unitary constitutional monarchy, and the country has a population of approximately 2,600,000. The capital city of Qatar is Doha and the country’s official language is Arabic.
The Qatari Riyal is the official currency of Qatar. Like many other global currencies, the riyal can be subdivided into 100 smaller units of currency known as dirhams. Until 1966, the State of Qatar used the Indian Rupee in the form of Gulf Rupees as its currency. Once India made the decision to devalue its currency, Qatar and other nations that used the Indian Rupee elected to introduce their own currencies. Qatar used the Saudi Riyal for a period of time until it started using the Qatar Dubai Riyal. Qatar eventually began issuing the Qatar Riyal separate from the Saudi Riyal in 1973.
The Qatar Central Bank was founded in 1973 and originally established as the Qatar Monetary Agency. The central bank of the nation issues and controls the nation’s currency. In addition, the central bank has several other key responsibilities such as oversight of the nation’s financial sector, monetary and price stability maintenance and maintenance of the currency exchange rate.
If you are looking to purchase silver in Qatar or simply want to see current prices, you will see the metal quoted in the local currency. In addition, prices may also be quoted in other key global currencies such as U.S. Dollars, Japanese Yen, euros or Great British Pounds. Silver is typically quoted by the ounce, gram, or kilo, although other local units of measure may also be used.
Qatar has one of the world’s richest economies based on per capita GDP. Natural gas and petroleum represent the cornerstone of the nation’s economy, accounting for a substantial portion of both government revenues and GDP. With some of the largest natural gas reserves anywhere on the globe, Qatar is a leading exporter of the commodity. The nation is involved in several other key areas of industry including cement, ship repair, fertilizer, ammonia and petrochemicals.
Demand for silver in the country could potentially as its industrial uses grow and as investors look for alternative investment vehicles. For investment purposes, silver is available in a variety of forms including bullion bars, rounds, coins and even jewelry. Bullion bars may represent the best overall value for investors looking to acquire as many total ounces of silver as possible. Bars typically carry the lowest overall premiums compared to coins and rounds, and may offer the lowest total per-ounce cost. Rounds also typically carry very reasonable premiums, and may feature much more detailed design work. Bullion coins tend to carry higher premiums. Coins may have very detailed design work and are also considered good, legal tender by their issuing government mint. Collectible coins may also be used, however, these products may have significantly higher premiums due to numerous factors including relative scarcity, mintage, condition and market conditions.