RIYADH: Qatar’s international reserves and foreign currency liquidity rose 1.9 percent year on year to 262.02 billion Qatari riyals ($71.98 billion) in April, supported by higher gold holdings and stronger foreign bank balances, official data showed.
Figures released by the Qatar Central Bank revealed that official international reserves increased 2.23 percent from a year earlier to 202.37 billion riyals by the end of April, the Qatar News Agency reported.
Gold reserves climbed by about 16.61 billion riyals year on year to 61.33 billion riyals, while balances held with foreign banks increased by around 7.34 billion riyals to 23.65 billion riyals.
The latest figures highlight Qatar’s continued accumulation of external buffers as Gulf economies maintain strong reserve positions to support currency pegs to the US dollar and cushion against global financial volatility.
Regionally, Saudi Arabia’s foreign reserves climbed 3 percent month on month in January to SR1.78 trillion ($474.5 billion), rising by SR58.7 billion from December and marking the highest level in six years, according to data from the Saudi Central Bank.
The QNA report stated: “Official reserves consist of key components, including foreign bonds and treasury bills, cash balances held with foreign banks, gold holdings, Special Drawing Rights, Qatar’s quota at the International Monetary Fund, and other liquid assets (foreign currency deposits). Together, these constitute what is known as total international reserves.”
It added that holdings of foreign bonds and treasury bills declined by 19.51 billion riyals year on year to 112.14 billion riyals.
Qatar’s SDR deposits with the International Monetary Fund decreased by 19 million riyals at the end of April, compared with the same month a year prior, reaching 5.23 billion riyals.
Earlier this month, S&P Global affirmed Qatar’s AA/A-1+ long- and short-term foreign and local currency sovereign credit ratings with a stable outlook, citing the country’s substantial fiscal and external assets.
The ratings agency said these buffers are expected to help Qatar navigate heightened regional security risks and potential trade flow disruptions linked to escalating tensions involving the US, Israel and Iran.