Doha, International reserves and foreign currency liquidity of Qatar Central Bank (QCB) surged by 11.73% in October 2023 to reach QR 243.534 billion, compared to QR 217.958 billion in October 2022.
The figures issued by QCB on Wednesday showed an increase in its official reserves at the end of October 2023, compared to what it was at the end of the same month last year, by about QR 22.442 billion, to reach QR 184.720 billion, driven by the increase in QCB balances of bonds and foreign treasury bills by about QR 20.567 billion, to the level of QR 136.198 billion in October 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 October 2023, by about QR 6.111 billion, compared to October 2022, to reach QR 23.173 billion.
Meanwhile, the State of Qatar’s shares of SDR deposits at the IMF increased as of the end of October 2023 by QR 124 million compared to October 2022, reaching QR 5.187 billion.
On the other hand, balances in foreign banks declined by about QR 2.361 billion to reach QR 20.160 billion at the end of October 2023 compared to October 2022.
Source: Qatar News Agency