QCB Foreign Reserves Surge 12.51 Percent in April 2023

QCB

International reserves and foreign currency liquidity of the Qatar Central Bank jumped last March to reach QR 237.095 billion, an increase of 12.51 percent, compared to QR 210.716 billion in the same month last year.

The figures issued by the Qatar Central Bank today 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 25.486 billion, to reach QR 178.885 billion, driven by the increase in the central balances of bonds and foreign treasury bills. About QR 16.685 billion, to the level of QR 136.389 billion in April 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.

On the other hand, gold stocks increased by the end of April 2023 by about QR 9.603 billion to reach QR 21.378 billion.

Meanwhile, the State of Qatar's shares of SDR deposits at the IMF decreased by the end of March 2023 with a value of QR 131 million compared to April 2022, reaching QR 5.320 billion.

Balances in foreign banks also declined by about QR 689 million to reach QR 15.797 billion at the end of April 2023.

(QNA)