The Qatar Central Bank reported a modest but steady rise in its international reserves and foreign currency liquidity, which climbed 2.21% year-on-year in March to QAR 261.972 billion. The figure edges above the QAR 256.300 billion recorded during the same period a year earlier, reflecting incremental growth across select components of the country’s external buffers.
Official international reserves alone expanded by 2.6% over the year, adding roughly QAR 5.184 billion to reach QAR 202.338 billion by the end of March. The uptick came even as some investment holdings moved in the opposite direction. Foreign bonds and treasury bills slipped by around QAR 2.225 billion, settling at QAR 120.661 billion compared with March of the previous year.
The central bank’s reserve mix remains broad, spanning foreign securities, cash balances with overseas banks, gold holdings, Special Drawing Rights deposits, and the country’s quota with the International Monetary Fund. Together with other liquid foreign-currency assets, these elements form the backbone of total international reserves.
Gold emerged as the standout contributor to the annual increase. Holdings surged by approximately QAR 19.809 billion, lifting the total to QAR 60.832 billion—significantly higher than the QAR 41.023 billion reported a year earlier. The rise underscores a continued tilt toward bullion as a stabilizing asset within Qatar’s reserve portfolio.
Special Drawing Rights linked to the IMF inched up as well, gaining QAR 37 million to reach QAR 5.179 billion. In contrast, balances with foreign banks declined sharply, dropping by about QAR 12.438 billion to QAR 15.663 billion by the end of March.
Overall, the data paints a picture of cautious reserve management: gains in gold and incremental growth in official reserves balancing declines in certain external placements, while total liquidity continues to trend upward.
