Qatar: QCB foreign reserves jump by 14% in June; central bank issues treasury bills worth $1.37bln

Qatar: QCB foreign reserves jump by 14% in June; central bank issues treasury bills worth $1.37bln

Qatar - International reserves and foreign currency liquidity of the Qatar Central Bank (QCB) jumped last June to reach QR240.742bn, an increase of 14%, compared to QR211.176bn in the same month last year. The figures issued yesterday by the QCB showed an increase in its official reserves at the end of last Month, compared to what it was at the end of the same month last year, by about QR28.536bn, to reach QR182.406bn, driven by the increase in the central balances of bonds and foreign treasury bills about QR23.072bn, to the level of QR134.682bn in June 2023. The official reserves consist of major components, which are 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); the two together constituting what is known as the total foreign reserves. Also, gold reserves increased, as of the end of June 2023, by about QR8.617bn to reach QR20.853bn. Meanwhile, Qatar's shares of SDR deposits at the IMF increased as of the end of June 2023 by QR51mn compared to June 2022, reaching QR5.278bn. Balances in foreign