Qatar Central Bank foreign reserves surge 11.8% in March

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Qatar - International reserves and foreign currency liquidity of the Qatar Central Bank in March rose to reach QR235.253bn, an increase of 11.7 percent compared to QR 210.480bn in the same month last year.

The figures issued by the Qatar Central Bank showed an increase in its official reserves at the end of February, compared to what it was at the end of the same month last year, by about QR23.869bn, to reach QR177.134bn driven by the increase in the central balances of bonds and foreign treasury bills. About QR17.065bn to the level of QR139.862bn in March 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.

In the same context, balances in foreign banks surged by about QR12.169bn to reach QR27.294bn at the end of March 2023.

On the other hand, gold stocks increased by the end of January 2023 by about QR8.763bn to reach QR20.656bn.

Meanwhile Qatar’s shares of SDR deposits at the IMF decreased by the end of March 2023 with a value of QR137m compared to March 2022, reaching QR5.314bn.