Economy Update – QCB Assets Surge
In February, the assets of the Qatar Central Bank (QCB) experienced a significant upturn, reaching an unprecedented level of 306 billion riyals, following four consecutive months of decline.
Several key factors contributed to this increase in the bank’s asset values. Notably, balances with local banks rose by 3.3% to 63.3 billion riyals. Additionally, funds held in foreign banks rose to approximately 27.7 billion riyals. Furthermore, the bank’s gold reserves also saw considerable growth, increasing by 4.5% month-over-month to about 38.3 billion riyals, marking the highest level recorded to date.
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