Qatar Central Bank's foreign reserves surge by 14 pc in June

Doha [Qatar], July 6 (ANI/WAM): International reserves and foreign currency liquidity of Qatar Central Bank (QCB) rose to reach QR 240.742 billion in June, an increase of 14 per cent, compared to QR 211.176 billion last year, Qatar News Agency (QNA) reported.

The figures issued Thursday by QCB showed an increase in its official reserves at the end of last month, compared to the same month last year, by about QR 28.536 billion, to reach QR 182.406 billion, driven by the hike in the central balances of bonds and foreign treasury bills from about QR 23.072 billion to QR 134.682 billion in June 2023.

The official reserves consist of major components, which are foreign bonds and bills, cash balances with foreign banks, gold holdings, special drawing rights deposits, and Qatar's share in the International Monetary Fund.

In addition to the official reserves, there are other liquid assets (Foreign Currency Deposits), so the two together constitute what is known as the total foreign reserves.

Qatar's gold reserves increased, as of the end of June 2023, by about QR 8.617 billion to reach QR 20.853 billion, while its shares of SDR deposits at the IMF increased by QR 51 million compared to June 2022, reaching QR 5.278 billion. (ANI/WAM)