Official data showed an increase in international reserves and foreign exchange liquidity of the Central Bank of Qatar in July 2022 by 2.8 percent year on year, the 53rd consecutive month of growth.
And data from Qatar Bank published on its website yesterday, Sunday, showed that foreign exchange reserves rose to 211.325 billion rials ($58.45 billion) last month.
Reserves in Qatar totaled 205.575 billion rials ($56.86 billion) in the same month of 2021.
On a monthly basis, Qatar’s international reserves rose 0.07% from 211.172 billion rials ($58.41 billion) in June 2022.
Qatar’s gold and foreign exchange reserves have been growing monthly since the start of growth in March 2018.
Qatar is benefiting from rising global gas prices, which are at record levels since the end of 2021 and continue to rise due to the aftermath of the Russian-Ukrainian war.
Qatar is the world’s largest exporter of liquefied natural gas and is facing fierce competition for global market share due to increased exports from major liquefied natural gas suppliers such as Australia and the United States.