Qatar Central Bank’s international reserves and foreign currency liquidity rose 4.36 percent in October to QAR254.166 billion ($69.31 billion), compared to QAR243.534 billion during the same period last year.

The latest data from the central bank recently revealed that official reserves gained around QAR10.438 billion year-on-year at the end of October, bringing the total to QAR195.158 billion. The central bank attributed this rise to an increase in the holdings of foreign bonds and treasury bills, which grew by about QAR2.280 billion to QAR138.478 billion in October 2024.

Gold holdings reach QAR35.736 billion

Qatar Central Bank’s official reserves consist of several 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, the central bank holds other liquid assets (foreign currency deposits). Together, these two elements form what is known as total international reserves.

Qatar Central Bank’s gold holdings also increased by around QAR12.563 billion year-on-year at the end of October, bringing the total to QAR35.736 billion.

In addition, the balance of Qatar’s SDR deposits at the IMF also rose by QAR2.9 million at the end of October, reaching QAR5.190 billion. Meanwhile, balances with foreign banks decreased annually by approximately QAR4.407 billion, bringing the total to QAR15.753 billion at the end of October this year.

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September foreign reserves reach QAR253.242 billion

In September, Qatar Central Bank’s foreign reserves recorded QAR253.242 billion, a 4.32 percent year-on-year rise. Official reserves rose QAR10.342 billion to reach QAR194.286 billion. The central bank’s balances of foreign bonds and treasury bills also rose by around QAR4.637 billion to QAR136.826 billion.

Gold reserves increased by around QAR12.851 billion compared to September 2023 to reach QAR34.077 billion. Meanwhile, the balance of special drawing rights deposits from the State of Qatar’s share with the IMF increased by QAR93 million by the end of September 2024, compared to September 2023, to reach QAR5.286 billion.

However, balances with foreign banks also declined by nearly QAR7.238 billion year-on-year to QAR18.096 billion at the end of September.

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