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 banks declined by about QR3.204bn to reach QR21.583bn at the end of June 2023.

Separately, the QCB issued treasury bills for July for maturity dates of a week, one month, three months, six months, nine months and a year's worth QR5bn, indicating that the total bids amounted to QR13.75bn.

The QCB said, on its website, that the issuance of treasury bills was distributed by QR500mn for a week at an interest rate of 5.5050%, QR500mn for a month with an interest rate of 5.5625%, QR1bn for a period of three months at an interest rate of 5.6450%, QR1bn for six months with an interest rate of 5.7025%, QR1bn for nine months, with an interest rate of 5.7500%, and QR1bn for a period of one year at interest rate of 5.7500%.

 

 

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