Qatar Central Bank Foreign Reserves Surge By 9.3% In November


(MENAFN- The Peninsula) QNA

Doha, Qatar: International reserves and foreign currency liquidity of Qatar Central Bank (QCB) jumped last November to reach QR244.815 billion, an increase of 9.3 percent, compared to QR223.985 billion in the same month last year.

The figures released on Friday by QCB showed an increase in its official reserves at the end of last month, compared to what it was at the end of the same month last year, by about QR 19.813 billion, to reach QR 185.922 billion, driven by the increase in the central balances of bonds and foreign treasury bills about QR 11.991 billion, to the level of QR 136.947 billion in November 2023.

Relatedly, gold reserves increased, as of the end of November 2023, by about QR 4.948 billion, compared to November 2022, to reach QR 23.737 billion.

Meanwhile, the State of Qatar's shares of SDR deposits at the IMF increased as of the end of November 2023 by QR 76 million compared to November 2022, reaching QR 5.269 billion.

Balances in foreign banks increased by about QR 2.799 billion to reach QR 20.269 billion at the end of November 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.

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