QNA
Doha
International reserves and foreign currency liquidity of Qatar Central Bank (QCB) rose by 6.9 percent at the end of 2023, to reach QR245.928 billion, compared to QR230.026 billion at the end of 2022.
Figures issued by QCB on Monday showed an increase in its official reserves at the end of 2023 compared to what it was at the end of 2022, by about QR 14.977 billion, to reach QR 187.069 billion, driven by the increase in QCB balances of bonds and foreign treasury bills by about QR 1.880 billion, to the level of QR133.654 billion in 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.
Relatedly, gold reserves increased, as of the end of 2023, by about QR 4.781 billion compared to 2022, to reach QR 24.372 billion. Balances in foreign banks rose by about QR 8.346 billion to reach QR 23.815 billion at the end of 2023 compared to 2022.
On the other hand, Qatar’s shares of SDR deposits at the IMF declined by QR 31 million at the end of 2023 compared to 2022, reaching QR5.227 billion.
