Dubai: Qatar Central Bank (QCB) saw a 3.88 per cent year-on-year increase in its foreign currency reserves and liquidity in June 2024 reaching $68 billion (Dh249 billion), up from $65.7 billion (Dh241 billion) in June 2023.
QCB's official reserves as of June 2024 stood at $52 billion (Dh190 billion), marking an increase of approximately $2.3 billion (Dh8.4 billion) compared to June 2023. This rise was mainly due to an increase in foreign bonds and treasury bills, reaching $38 billion (Dh139.5 billion), up by $1.1 billion (Dh4 billion).
The reserves are composed of various assets including bonds, treasury bills, balances with foreign banks, gold reserves, Special Drawing Rights (SDR), and Qatar's IMF share.
In addition to official reserves, other liquid assets such as foreign currency deposits contribute to the total foreign reserves.
Gold reserves reached $7.9 billion (Dh29 billion) by the end of June 2024, marking an increase of $2.1 billion (Dh7.7 billion) compared to the previous year.
Balances with foreign banks declined to $4.9 billion (Dh18 billion) by June 2024, down by $986 million (Dh3.6 billion) from June 2023. Similarly, Qatar's special drawing rights deposits at the IMF decreased by $47 million (Dh172 million), reaching $1.3 billion (Dh4.7 billion) by June 2024.
