Exchange transactions touch $9bn in six months

August 11, 2013 12:53 pm

Exchange transactions touch $9bn in six months

Doha 11th August 2013 :A whopping QR33bn has been transferred to destinations abroad through various exchange houses in Qatar during the first half of 2013, a local Arabic daily reported.

The report quoted financial market experts as saying that the Qatari forex market has seen annual growth rates of around 15-20%, which is considered one of the highest in the world. “In addition, this market is likely to become stronger and higher rates of growth are expected as  2022 World Cup approaches.”

Doha being a centre for different regional and international conferences, has pushed forward the growth of the currency market and revived the processes of buying and selling foreign currencies.

The exchange houses have adopted sophisticated and modern systems to process various  transactions while recruiting more qualified staff to handle the increasing demand in a hassle-free manner, the report said.

Most of the customers  have expressed their satisfaction at the services provided by the exchanges. These businesses are rapidly developing keeping pace with the economic development in Qatar.

About the Author

Mr. Tamim Maha Ali is the Chief Editor of Qatar Chronicle. After completing his post-graduation from the International College Dublin Business School, he worked in various consulting capacities for equity and business firms in Lusail. A shrewd strategist, he is an Economic Pundit, entrepreneur and Investment Banker.

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