Doha, Qatar – The International reserves and foreign currency liquidity of Qatar Central Bank (QCB) surged by 11.73% in October 2023 to reach $67.04 billion, compared to $59.97 billion in October 2022.
The figures issued by QCB on Wednesday showed an increase in its official reserves at the end of October 2023, compared to what it was at the end of the same month last year, by about $6.16 billion, to reach $49.87 billion, driven by the increase in QCB balances of bonds and foreign treasury bills by about $5.67 billion, to the level of $34.98 billion in October 2023.
The official reserves consist of foreign bonds and bills, cash balances with foreign banks, gold holdings, special drawing rights deposits, and Qatar’s share in the International Monetary Fund.
In addition to the official reserves, there are other liquid assets (Foreign Currency Deposits), so the two together constitute what is known as the total foreign reserves.
Relatedly, gold reserves increased, as of the end of October 2023, by about $1.69 billion, compared to October 2022, to reach $6.37 billion.
Meanwhile, Qatar’s shares of SDR deposits at the IMF increased as of the end of October 2023 by $34 million compared to October 2022, reaching $1.42 billion.
On the other hand, balances in foreign banks declined by about $646 million to reach $5.49 billion at the end of October 2023 compared to October 2022.