Qatar’s international reserves rise 3.2% in August

RIYADH: Qatar Central Bank’s international reserves and foreign currency liquidity increased by 3.2 percent year on year in August, reaching 260.3 billion Qatari riyals ($71.50 billion), according to the bank’s latest monthly figures.

This marked a slight deceleration compared to July’s growth rate of 3.28 percent, when reserves stood at 259.238 billion riyals.

Official reserves also posted a year-on-year increase of 3.8 percent, rising to 200.8 billion riyals in August. That compares with a 3.99 percent growth rate in July, when reserves reached 199.84 billion riyals.

According to data reported by the Qatar News Agency, holdings of foreign bonds and treasury bills fell by 4.9 billion riyals to 135.2 billion riyals in August, while gold reserves climbed by 14.6 billion riyals to 46.5 billion riyals.

Cash balances at foreign banks declined by 2.3 billion riyals to 13.9 billion riyals, while Special Drawing Rights with the International Monetary Fund slipped slightly to 5.24 billion riyals from 5.25 billion riyals a year earlier.

Qatar’s international reserves rise 3.2% in August

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