QCB foreign reserves surge 3.88% in June 2024

The foreign currency reserves and foreign currency liquidity of the Qatar Central Bank (QCB) increased by 3.88 percent year-on-year to reach QR250.091 billion in June 2024 compared to QR240.742 billion in the same period of 2023.

The figures released on Sunday by QCB showed an increase in its official reserves at the end of June 2024, compared to what it was at the end of the same month in 2023, by roughly QR8.704 billion to reach QR191.110 billion, owing to the increase in QCB’s balances of foreign bonds and treasury bills by around QR4.386 billion, to reach QR139.068 billion in June 2024.

The reserves consist of key categories: bonds and foreign treasury bills, balances with foreign banks, gold, and Special Drawing Rights (SDR), and the State of Qatar’s share at the International Monetary Fund (IMF).

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.

Gold reserves increased, as of the end of June 2024, by about QR8.124 billion compared to June 2023 to reach QR28.977 billion.

Balances with foreign banks declined by nearly QR3.633 billion, to the level of QR17.950 billion at the end of June 2024, compared to June 2023, with the balance of special drawing rights deposits from the State of Qatar’s share with IMF decreasing by QR174 million by the end of June 2024, compared to June 2023, reaching QR5.113 billion.

 

 

 

 

 

 

QNA