DOHA: International reserves and foreign currency liquidity at Qatar Central Bank (QCB) increased by 4.05% in November, reaching QR254.743 billion, compared to QR244.815 billion in the same month in 2023.
Data released by Qatar Central Bank showed a rise in its official reserves at the end of November 2024 compared to the same month last year, by approximately QR9.812 billion, bringing the total to QR195.734 billion. This increase is due to a rise in the central bank's holdings of foreign bonds and treasury bills, which grew by about QR1.477 billion to reach QR138.124 billion in November 2024.
The official reserves consist of main components, including foreign bonds and treasury bills, cash balances with foreign banks, gold holdings, Special Drawing Rights (SDRs) deposits, and Qatar's quota at the International Monetary Fund (IMF). In addition to official reserves, there are other liquid assets (foreign currency deposits), and together these two elements form what is known as total international reserves.
Gold holdings increased by around QR10.632 billion at the end of November, compared to November 2023, bringing the total to QR34.369 billion.
The balance of Qatar's SDR deposits at the IMF also decreased by QR138 million at the end of November, reaching QR5.131 billion, compared to November 2023.
On another note, balances with foreign banks decreased by approximately QR2.160 billion, bringing the total to QR18.109 billion at the end of November this year, compared to November 2023.
