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Satyendra Pathak
Doha
In a bid to maintain stock of US dollar to meet the demand, money exchange houses in Qatar have taken various measures to get regular supply of the currency from Singapore and Hong Kong.
Some of the exchanges houses in Qatar ran short of dollar as supply of the currency was stopped from the UAE soon after the GCC crisis began on June 5.
"There is no such shortage of the US dollar in the local market now as we have started receiving shipment of the currency from Singapore and Hong Kong," Al Dar Exchange CEO Jumah al Maadhadi told Qatar Tribune.
Maadhadi said they began talks with exporters of the currency in Singapore and Hong Kong."We received the first shipment of US currency worth $3 million from Hong Kong last Thursday. The amount increased to $5 million and $8 million on Monday and Tuesday, respectively. We are expected to get a regular supply of US notes worth $13 million by the end of this week," Maadhadi said.
The official of Al Dar Exchange, which redistributes US dollar sourced from other countries to local exchange houses, said there would be no shortage of the US dollar at any of the exchange houses in Qatar.
"Availability of the US currency in Qatar will be quite normal from this week," Maadhadi said.
Manager of a Qatar-UAE Exchange branch in Doha said the exchange had enough dollars to meet the demand of its customers.
"There was a sudden rise in demand for US dollar and the supply of the currency was stopped from the UAE. The situation is normal now. Now we are getting the currency from alternative sources," the manager said.
