International reserves and foreign currency liquidity at the Qatar Central Bank (QCB) increased by 4.36% in October, reaching QR254.166bn, compared to QR243.534bn in the same month in 2023.

Data released by the Qatar Central Bank on Friday showed a rise in its official reserves at the end of October compared to the same month last year, by approximately QR10.438bn, bringing the total to QR195.158bn. This increase is due to a rise in the central bank's holdings of foreign bonds and treasury bills, which grew by about QR2.280bn to reach QR138.478bn riyals in October 2024.

The official reserves consist of main components, including foreign bonds and treasury bills, cash balances with foreign banks, gold holdings, Special Drawing Rights (SDRs) deposits, and Qatar’s quota at the International Monetary Fund (IMF). In addition to official reserves, there are other liquid assets (foreign currency deposits), and together these two elements form what is known as total international reserves.

Gold holdings increased by around QR12.563bn riyals at the end of October, compared to October 2023, bringing the total to QR35.736bn.

The balance of Qatar's SDR deposits at the IMF also rose by QR2.9mn at the end of October, reaching QR5.190bn, compared to October 2023.

On another note, balances with foreign banks decreased by approximately QR4.407bn, bringing the total to 15.753bn riyals at the end of October this year, compared to October 2023.