Media Centre

Qatar Central Bank foreign reserves surge 3.89% in July

The foreign currency reserves and foreign currency liquidity of the Qatar Central Bank (QCB) increased

by 3.89% year-on-year to reach QR250.981bn in July 2024 compared to QR241.572bn in the same period of 2023.

The figures released on Wednesday by the QCB showed an increase in its official reserves at the end of

July 2024, compared to the end of the same month in 2023, by roughly QR9.038bn to reach

QR192.157bn, owing to the increase in the QCB's balances of foreign bonds and treasury bills by around QR1.091bn, to reach QR138.697bn in July 2024.

The reserves consist of key categories: bonds and foreign treasury bills, balances with foreign banks,

gold, and Special Drawing Rights (SDR), and the State of Qatar's share at the International Monetary Fund (IMF).

In addition to the official reserves, there are other liquid assets (foreign currency deposits), together

constituting what is known as the total foreign reserves.

Gold reserves increased, as of the end of July, by about QR8.551bn compared to July 2023 to reach

QR30.682bn.

Balances with foreign banks declined by nearly QR457mn, to the level of QR17.610bn at the end of July,

compared to July 2023.

The balance of SDR deposits from Qatar's share with the IMF decreased by QR147mn by the end of July,

compared to July 2023, reaching QR5.166bn.