Qatar Central Bank Reports 3.88% Surge in Foreign Reserves for June 2024

Qatar, 9 July, 2024 :   Qatar Central Bank (QCB) reported a 3.88% year-on-year increase in foreign currency reserves and liquidity, reaching QR250.091 billion in June 2024, up from QR240.742 billion in June 2023.

QCB's official reserves grew by QR8.704 billion to QR191.110 billion, driven by a QR4.386 billion increase in foreign bonds and treasury bills, which totaled QR139.068 billion. Gold reserves saw a rise of QR8.124 billion, reaching QR28.977 billion.

However, balances with foreign banks declined by QR3.633 billion to QR17.950 billion. Special Drawing Rights (SDR) deposits from Qatar's share with the IMF decreased by QR174 million, totaling QR5.113 billion by the end of June 2024.

The figures, released on Sunday, highlight the overall increase in QCB's foreign reserves, combining official reserves and other liquid assets.

Source : www.zawya.com