Qatar Central Bank
Qatar Central Bank

During the current month of April 2020, international reserves and liquidity in foreign currencies within the Qatar Central Bank increased by 6.3% over the course of an year.

In a related economic context, this rise came for the twenty-sixth month in a row, despite the repercussions of the emerging epidemic of Corona virus and the extent of its spread in Qatar.

The Qatar Bank data published on its website showed that foreign reserves increased to 202.85 billion riyals (56.3 billion dollars) in the previous month, despite the repercussions of the world and the crises towards the emerging Corona virus.

In this regard, the cash reserves of hard currency in all Qatar banks amounted to about 190.76 billion riyals ($ 52.9 billion) in April last year 2019.

On a monthly basis, the Qatari reserve increased by 0.8% in the previous month, compared to 201.31 billion riyals ($ 55.8 billion) in March.

At the moment, Qatar’s foreign reserves continue to increase significantly monthly since it began growing in March of the year before last 2018, and on the other hand, it has also settled at its highest level since August 2015.

It is noteworthy that the improvement in foreign exchange reserves in Qatar came despite the implications of the Corona virus on the Qatari economy, as the Qatari government allocated a stimulus package worth seventy-five billion riyals ($ 20.73 billion) in order to recover from the negative economic impacts of the emerging corona virus and its impact on the Qatari economy.

On the other hand, Qatar Central Bank issued, today, treasury bills, on behalf of the Qatari government, for the month of May of the year 2020, for three, six and nine months, for a total of 600 million riyals (about 165 million dollars).

On the one hand, the Central Bank of Qatar confirmed, in an official statement, that the permissions were already distributed in three different issues.

The second issue came for a six-month period with a value of 200 million riyals (about 55 million dollars) and an interest rate of 0.64%, and the third for a nine-month period of 100 million riyals (27.5 million dollars) and an interest rate of 0.66%.

It is worth noting that treasury bills in the current sustenance are considered a government debt instrument issued for a period ranging between three months and a year; therefore, they are considered short-term securities.