Qatar Central Bank’s foreign reserves surge by 14% on year-on-year basis

Qatar Central Bank’s foreign reserves surge by 14% on year-on-year basis

QLNews
By QLNews

Prudent measures and careful money management has helped Qatar Central Bank’s (QCB) international reserves and foreign currency liquidity to surge by double digits on a year-on-year basis.

Latest numbers released by the QCB shows foreign reserves in June to be at QR240.742bn, a 14% jump, from QR211.176bn during the same month last year.

QCB also showed an increase of about QR28.536bn in its official reserves at the end of June to reach QR182.406bn. The change was driven by the increase in central balances of bonds and foreign treasury bills (by QR23.072bn), to reach QR134.682bn by June.

Official reserves consist of major components — foreign bonds and bills, cash balances with foreign banks, gold holdings, special drawing rights deposits, and Qatar’s share in the International Monetary Fund (IMF).

In addition to official reserves, there are also other liquid assets (foreign currency deposits), and the two together constitute what is known as total foreign reserves.

Qatar’s gold reserves increased by about QR8.617bn to reach QR20.853bn by the end of June.

Meanwhile, the country’s shares of SDR deposits at the IMF increased by QR51m compared to June 2022, reaching QR5.278bn. However, balances in foreign banks declined by about QR3.204bn to reach QR21.583bn by June 2023.

---

Make sure to check out our social media to keep track of the latest content. 

Instagram - @qatarliving

Twitter - @qatarliving

Facebook - Qatar Living

YouTube qatarlivingofficial

Log in or register to post comments

More from Qatar Living

Qatar’s top beaches for water sports thrills

Qatar’s top beaches for water sports thrills

Let's dive into the best beaches in Qatar, where you can have a blast with water activities, sports and all around good times.
Most Useful Apps In Qatar - Part Two

Most Useful Apps In Qatar - Part Two

This guide brings you the top apps that will simplify the use of government services in Qatar.
Most Useful Apps In Qatar - Part One

Most Useful Apps In Qatar - Part One

this guide presents the top must-have Qatar-based apps to help you navigate, dine, explore, access government services, and more in the country.
Winter is coming – Qatar’s seasonal adventures await!

Winter is coming – Qatar’s seasonal adventures await!

Qatar's winter months are brimming with unmissable experiences, from the AFC Asian Cup 2023 to the World Aquatics Championships Doha 2024 and a variety of outdoor adventures and cultural delights.
7 Days of Fun: One-Week Activity Plan for Kids

7 Days of Fun: One-Week Activity Plan for Kids

Stuck with a week-long holiday and bored kids? We've got a one week activity plan for fun, learning, and lasting memories.
Wallet-friendly Mango Sticky Rice restaurants that are delightful on a budget

Wallet-friendly Mango Sticky Rice restaurants that are delightful on a budget

Fasten your seatbelts and get ready for a sweet escape into the world of budget-friendly Mango Sticky Rice that's sure to satisfy both your cravings and your budget!
Places to enjoy Mango Sticky Rice in  high-end elegance

Places to enjoy Mango Sticky Rice in high-end elegance

Delve into a world of culinary luxury as we explore the upmarket hotels and fine dining restaurants serving exquisite Mango Sticky Rice.
Where to celebrate World Vegan Day in Qatar

Where to celebrate World Vegan Day in Qatar

Celebrate World Vegan Day with our list of vegan food outlets offering an array of delectable options, spanning from colorful salads to savory shawarma and indulgent desserts.