“Central Bank”: 4% growth in foreign exchange reserves in May

Written By Mark

The international reserves and liquidity in foreign currency of the Qatar Central Bank increased last May, by 4 percent, to reach 249.2 billion riyals, compared to 239.664 billion riyals in the same month of 2023.
Data issued by the Qatar Central Bank also showed an increase in its total official reserves by 4.9% at the end of last May, compared to what they were at the end of the same month in 2023, by about 8.833 billion riyals, to reach 190.2 billion riyals, as a result of the increase in the central bank’s balances of bonds. And foreign treasury bills amounted to about 2.816 billion riyals, to the level of 138.948 billion riyals in May 2024.
Official reserves consist of main components: foreign bonds and treasury bills, cash balances with foreign banks, gold holdings, Special Drawing Rights deposits, and the State of Qatar’s share in the International Monetary Fund. Added to the official reserves are other liquid assets “consisting of deposits in foreign currency,” so that the two together constitute what is known as total international reserves.
Gold stocks increased by the end of last May by about 7.276 billion riyals, compared to May 2023 to 28.327 billion riyals.
On the other hand, balances with foreign banks declined by about 1.192 billion riyals, to the level of 17.744 billion riyals at the end of last May, compared to May of 2023.
The balance of Special Drawing Rights deposits from the State of Qatar’s share with the International Monetary Fund declined by the end of last May by 66 million riyals, compared to May 2023, reaching the level of 5,186 billion riyals.