Want to Make 7% Profit per Day? Find Some Cheap Qatari Riyals
- Accessing currency at the discounted rate is limited by supply
- Five exchange houses in Dubai had a combined 31 riyals
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There’s a killing to be made trading cheap Qatar riyals, if you know where to find them.
Like most countries in the Gulf region, Qatar maintains a currency peg, keeping the riyal at 3.64 per dollar since 2001. But the crisis that blew up between the Gulf state and a group of Saudi-led countries earlier this year has generated a gap as wide as 7 percent between the rate for riyals available inside the country -- the so-called onshore rate -- and those offshore, offering a theoretical opportunity to profit from from the difference.