Qatar Central Bank Foreign Reserves Surge 5.2 % in March

Doha: The foreign currency reserves and liquidity of the Qatar Central Bank (QCB) increased by 5.2 percent year-on-year to reach QR 247.4 billion in March 2024 compared to the same period of last year.

The figures released on Monday by the QCB showed an increase in its official reserves at the end of March 2024 as compared to what it was at the end of the same month last year by about QR 11.348 billion to reach QR 188.482 billion, despite decrease in the balances with foreign banks by about QR 10.771 billion to the level of QR 16.523 billion by the end of last March compared to March 2023.

The reserves consist of four categories: bonds and foreign treasury bills, balances with foreign banks, gold, and Special Drawing Rights (SDR), and the State of Qatar’s share at the International Monetary Fund (IMF).

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.

Gold reserves increased, as of t
he end of March 2024, by about QR 5.483 billion compared to Mrach 2023 to reach QR 26.755 billion.

The State of Qatar’s shares of SDR deposits at the IMF decreased at the end of March 2024 by QR 130 million compared to March 2023, reaching QR 5.184 billion.

The QCB’s balances of bonds and foreign treasury bills increased by about QR 16.747 billion to the level of QR 140 billion in March 2024.

Source: Qatar News Agency

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