Qatar Central Bank's Foreign Currency Reserves Increase by 4% in August 2024

Qatar, 10 September, 2024 : The Qatar Central Bank (QCB) reported a 4% year-on-year increase in its international reserves and foreign currency liquidity for August 2024, reaching QR 252.3 billion.

The QCB’s official reserves grew by 5.2% to QR 193.417 billion, up from QR 183.541 billion a year earlier. This increase was driven by a QR 389-million rise in foreign bonds and treasury bills, totaling QR 139.682 billion. Gold reserves also saw a substantial increase, climbing by QR 9.921 billion to reach QR 31.861 billion.

Despite these gains, balances with foreign banks decreased by QR 754 million to QR 16.231 billion, and special drawing rights deposits with the IMF fell by QR 15 million to QR 5.237 billion.

The total reserves include bonds, foreign treasury bills, gold, Special Drawing Rights (SDR), and the Qatar's share in the IMF.

Source : www.zawya.com