By A Staff Reporter, Kathmandu, Apr. 21: The Qatari Riyal, the fourth in circulation issued by Qatar's Central Bank, is set to be removed from use from July 1, 2021.

With the recent decision of the Qatari Central Bank, the Nepal Rastra Bank (NRB) has made a public appeal to the general Nepalis to exchange their Riyals as soon as possible.

In a statement issued on Tuesday, the NRB has urged all Nepalis who have Qatari Riyals with them to exchange their currency by May 10, 2021.
“The banknotes can be exchanged from the banking department of the central bank, province-based offices doing banking transactions, commercial banks and national level development banks and money exchange who own licence for foreign currency exchange,” said Manohar Siwakoti, deputy director of NRB.

"Since there are more Nepalis coming to Qatar than we estimate, the necessary process has started for the exchange as it is seen that Qatari Riyals can be found in the homes of Nepalis," he said.
The NRB and financial institutions would not be compelled to exchange Qatari Riyals after July 1.

The NRB has issued the circular for BFIs and money exchangers to collect Qatari Riyals by May 10 and submit them to the NRB within May 21, 2021, said Siwakoti.