Qatar Central Bank’s Foreign Reserves Rise 4.68% in April

Doha: Qatar Central Bank's (QCB) international reserves and foreign currency liquidity increased by 4.68 percent in April to reach QR 248.202 billion, compared to QR 237.095 billion in the same month of 2023. Data released by the QCB on Tuesday showed that the bank's official reserves rose by QR 10.377 billion at the end of April compared to the end of April 2023, to reach QR 189.262 billion. This was driven by an increase in the QCB's holdings of foreign bonds and treasury bills by QR 1.887 billion to QR 138.276 billion in April 2024. The official reserves consist of major components, including foreign bonds and treasury bills, cash balances with foreign banks, gold holdings, special drawing rights (SDR) deposits, and Qatar's share in the International Monetary Fund (IMF). In addition to official reserves, there are other liquid assets (foreign currency deposits), which together constitute what is known as total international reserves. Gold holdings increased by QR 6.646 billion at the end of April compa red to April 2023 to reach QR 28.024 billion. Balances with foreign banks also rose by QR 2.007 billion to QR 17.804 billion at the end of April this year, compared to April 2023. On the other hand, the balance of SDR deposits from Qatar's share in the IMF decreased by QR 163 million at the end of April compared to April 2023, to reach QR 5.157 billion. Source: Qatar News Agency