Qatar Central Bank Foreign Reserves Surge 13.55% In May 2023

Doha, June 07 (QNA) - International reserves and foreign currency liquidity of Qatar Central Bank (QCB) jumped last May to reach QR 239.664 billion, an increase of 13.55 percent, compared to QR 211.060 billion in the same month last year. The figures issued Wednesday by 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 QR 27.601 billion, to reach QR 181.373 billion, driven by the increase in the central balances of bonds and foreign treasury bills about QR 20.818 billion, to the level of QR 136.132 billion in May 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), so the two together constitute what is known as the total foreign reserves. On the other hand, gold stocks increased by the end of May 2023 by about QR 8.733 billion to reach QR 21.051 billion. Meanwhile, the State of Qatar's shares of SDR deposits at the IMF decreased by the end of May 2023 with a value of QR 71 million compared to May 2022, reaching QR 5.252 billion. Balances in foreign banks also declined by about QR 1.879 billion to reach QR 18.936 billion at the end of May 2023. (QNA)