Qatar Central Bank (QCB) witnessed in March 2024 a 5.2 percent year-on-year increase in its foreign currency reserves and liquidity, compared to the same period in the previous year. The reserves reached a total of QR247.4 billion ($67.9 billion).
According to the figures released by QCB, the bank’s official reserves at the end of March 2024 increased by QR11.348 billion ($3.11 billion), reaching in 2023 QR188.482 billion ($51.76 billion). This is despite a decrease in balances with foreign banks, which dropped by QR10.771 billion to QR16.523 billion by the end of March 2024, compared to March 2023.
The QCB’s reserves are categorized into four groups: bonds and foreign treasury bills, balances with foreign banks, gold, and Special Drawing Rights (SDR), including the State of Qatar’s share at the International Monetary Fund (IMF).
In addition to the official reserves, there are other liquid assets known as Foreign Currency Deposits. When combined, the official reserves and Foreign Currency Deposits form the total foreign reserves.
Gold reserves increased by QR5.483 billion, reaching QR26.755 billion as of the end of March 2024, compared to March 2023.
The State of Qatar’s share of SDR deposits at the IMF decreased by QR130 million, reaching QR5.184 billion by the end of March 2024, compared to March 2023.
The QCB’s balances of bonds and foreign treasury bills increased by QR16.747 billion, reaching QR140 billion in March 2024.
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