RIYADH: Qatar Central Bank’s international reserves and foreign currency liquidity climbed 1.52 percent year on year in May, reaching 262.06 billion Qatari riyals ($72 billion), according to official data.
The figures released by the bank and carried by the national news agency showed that official international reserves rose 1.86 percent year on year to 202.60 billion riyals, while gold holdings increased to 61.22 billion riyals.
Qatar’s strengthening reserve position comes as central banks across the Gulf bolster their external buffers, supported by prudent fiscal policies and resilient energy revenues.
Saudi Arabia’s foreign reserves hit a six-year high of $474.18 billion in January, up 10 percent year on year, while the UAE’s reached a record $285.7 billion in February. Kuwait also posted gains, with reserves climbing to $39.81 billion in March.
“Official reserves consist of key components including foreign bonds and treasury bills, cash balances with foreign banks, gold holdings, Special Drawing Rights deposits, and Qatar’s quota at the International Monetary Fund, in addition to other liquid assets in the form of foreign-currency deposits, together forming what is known as total international reserves,” Qatar News Agency said.
