Qatar’s international reserves will scale up to $38.1bn in 2023 from $33.8bn this year, FocusEconomics has said in its latest country report.
The Qatar Central Bank’s (QCB) foreign exchange reserves scaled up to $49.4bn in January from $49.3bn in December last year, a new report by QNB has shown.
Reserves at the Qatar Central Banks “remains high” although annual average oil prices are forecast to fall in 2019, Economist Intelligence Unit (EIU) has said in an overview.
The Qatar Central Bank’s foreign exchange reserves topped $47.4bn in October, a 2% increase month-on-month, a new report by QNB has shown. This, QNB said, equates to 8.5 months of import cover.
Qatar’s foreign exchange reserves gained 1.7% month-on-month (m-o-m) to reach $46.5bn in September, QNB has said in its latest ‘Qatar Monthly Monitor.’
The country’s economic diversification projects will "sustain robust growth" until 2030, before slowing thereafter, The Economist Intelligence Unit (EIU) has said in a recent report.
The report showed Qatar’s current account surplus widened to 5.3% of GDP in the third quarter (Q3) from 2.5% in the second quarter (Q2) while the deficit in the financial account narrowed.
The Qatar Central Bank (QCB) has adequate reserves to defend the Qatari riyal as its international reserves are twice the monetary base; indicating its ability to inject dollar liquidity.
Foreign institutions turned bullish on the Qatar Stock Exchange, which otherwise hit a five-year low this week.
Qatar, blockaded by three of its Gulf neighbours since June, is capable of supporting its banks with assets in the country’s vast sovereign wealth fund and foreign currency reserves, the central bank governor said.
All Gulf Cooperation Council countries peg their currencies to the US dollar, with the exception of Kuwait, which pegs its currency to a basket of currencies of which the US dollar is most dominant.