The total international reserves and foreign currency liquidity at the Qatar Central Bank increased last October by 1.3 percent on a monthly basis, reaching about $60 billion. Official data issued by the Qatar Central Bank showed growth in official reserves last month by 1.8 percent compared to the previous month (September) to $44 billion, supported by an increase in investment in foreign treasury bonds to about $31.8 billion.
Qatar is working to maximize its balance of foreign reserves to support the local currency and to reduce the public debt-to-GDP ratio, by taking advantage of the high value of financial surpluses resulting from increased revenues from high energy prices.
According to the latest data on foreign trade, Qatar's foreign reserves cover the value of the country's merchandise imports for about 22 months in a row.
On the other hand, balances with foreign banks decreased by about 3.4 billion riyals to the level of 22.5 billion riyals, compared to the month of October (October) last year, while gold stocks rose by about 5.2 billion riyals, to reach 17 billion riyals.
Source (CNBC Arabic Website, Edited)
