QCB's foreign reserves rise 4.36% in October

Doha, Qatar: International reserves and foreign currency liquidity at Qatar Central Bank increased by 4.36% in October, reaching QR 254.166 billion, c...

Doha, Qatar: International reserves and foreign currency liquidity at Qatar Central Bank increased by 4.36% in October, reaching QR 254.166 billion, compared to QR 243.534 billion in the same month in 2023.

Data released by Qatar Central Bank today showed a rise in its official reserves at the end of October compared to the same month last year, by approximately QR 10.438 billion, bringing the total to QR 195.158 billion. This increase is due to a rise in the central bank's holdings of foreign bonds and treasury bills, which grew by about QR 2.280 billion to reach QR 138.478 billion riyals in October 2024.

The official reserves consist of main components, including foreign bonds and treasury bills, cash balances with foreign banks, gold holdings, Special Drawing Rights (SDRs) deposits, and Qatars quota at the International Monetary Fund (IMF). In addition to official reserves, there are other liquid assets (foreign currency deposits), and together these two elements form what is known as total international reserves.

Gold holdings increased by around QR 12.563 billion riyals at the end of October, compared to October 2023, bringing the total to QR 35.736 billion.

The balance of Qatars SDR deposits at the IMF also rose by QR 2.9 million at the end of October, reaching QR 5.190 billion, compared to October 2023.