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Qatar Central Bank's foreign reserves rise 3.69% in December

Qatar Central Bank's foreign reserves rise 3.69% in December

Qatar Central Bank's foreign reserves rise 3.69% in December

Jan 09, 2025

DOHA: International reserves and foreign currency liquidity at Qatar Central Bank (QCB) increased by 3.69% in December, reaching QR255.003 billion, compared to QR245.928 billion in the same month in 2023.

Data released by Qatar Central Bank showed a rise in its official reserves at the end of December 2024 compared to the same month in 2023, by approximately QR8.907 billion, bringing the total to QR195.976 billion, despite the decline in the QCB's balances of foreign bonds and treasury bills by around QR6.562 billion to the level of QR127.092 billion in December 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 QR9.428 billion at the end of December, compared to December 2023, bringing the total to QR33.800 billion.

Balances with foreign banks increased by approximately QR6.218 billion, bringing the total to QR30.003 billion at the end of December this year, compared to December 2023.

On the other hand, the balance of Qatar's SDR deposits at the IMF decreased by QR177 million at the end of December, reaching QR 5.050 billion, compared to December 2023.