Doha, Qatar: International reserves and foreign currency liquidity of Qatar Central Bank (QCB) rose by 6.9 percent at the end of 2023, to reach QR245.928bn, compared to QR230.026bn at the end of 2022.

Figures issued by QCB yesterday showed an increase in its official reserves at the end of 2023 compared to what it was at the end of 2022, by about QR14.977bn, to reach QR187.069bn, driven by the increase in QCB balances of bonds and foreign treasury bills by about QR1.880bn, to the level of QR133.654bn in 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.

Relatedly, gold reserves increased, as of the end of 2023, by about QR4.781bn compared to 2022, to reach QR24.372bn.

Balances in foreign banks rose by about QR8.346bn to reach QR23.815bn at the end of 2023 compared to 2022.

On the other hand, the State of Qatar’s shares of SDR deposits at the IMF declined by QR31m at the end of 2023 compared to 2022, reaching QR5.227bn.

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