Qatar Central Bank (QCB) reported a 3.7% increase in its international reserves and foreign currency liquidity in January 2025, reaching QR 255.166 billion, compared to QR 246.047 billion in the same month last year.
According to newly released data from QCB, the country’s official reserves also saw a rise, increasing by QR 8.942 billion year-over-year to reach QR 196.097 billion by the end of January. This growth came despite a drop in QCB’s foreign bonds and treasury bill holdings, which declined by QR 7.551 billion to QR 128.863 billion.
Breakdown of Qatar’s Official Reserves
Qatar’s official reserves are made up of several key components, including:
- Foreign bonds and treasury bills
- Cash balances with foreign banks
- Gold holdings
- Special Drawing Rights (SDRs) deposits
- Qatar’s quota at the International Monetary Fund (IMF)
Beyond official reserves, Qatar’s total international reserves also include other liquid assets, such as foreign currency deposits.
Gold and Foreign Bank Balances See Significant Growth
Gold holdings recorded a sharp increase, rising by QR 12.582 billion year-over-year to total QR 36.651 billion at the end of January.
Meanwhile, balances with foreign banks also saw an uptick, climbing by QR 4.059 billion to QR 25.526 billion.
IMF Deposits See a Slight Decline
Despite the overall rise in reserves, Qatar’s Special Drawing Rights (SDR) deposits at the IMF saw a small decline, dropping QR 150 million to QR 5.054 billion by the end of January.
The increase in Qatar’s international reserves highlights the country’s strong financial position, despite fluctuations in global markets. Analysts point to continued growth in gold holdings and foreign bank balances as key contributors to the overall rise in liquidity.
