Arab News Headlines

QCB Foreign Reserves Surge 11.8 Percent in March 2023

International reserves and foreign currency liquidity of the Qatar Central Bank jumped last March to reach QR 235.253 billion, an increase of 11.7 percent, compared to QR 210.480 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 February, compared to what it was at the end of the same month last year, by about QR 23.869 billion, to reach QR 177.134 billion, driven by the increase in the central balances of bonds and foreign treasury bills. About QR 17.065 billion, to the level of QR 139.862 billion in March 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.

In the same context, balances in foreign banks surged by about QR 12.169 billion to reach QR 27.294 billion at the end of March 2023.

On the other hand, gold stocks increased by the end of January 2023 by about QR 8.763 billion to reach QR 20.656 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 137 million compared to March 2022, reaching QR 5.314 billion.

Source: Qatar News Agency