Qatar’s Official Reserves Rise 10.85 Percent on the Year to 223.4 Billion Riyals in September
Qatar’s official international reserves rose 10.85 percent from a year earlier to 223.447 billion riyals at the end of September, an increase of 21.888 billion riyals, according to Qatar Central Bank figures published on 8 October. International reserves and foreign currency liquidity, which add other liquid foreign currency assets, rose 0.46 percent to 262.279 billion riyals.
Gold and bank balances grow
Gold holdings rose 4.378 billion riyals to 56.408 billion riyals, an increase of 8.41 percent on our calculation. Balances with foreign banks rose 62.153 billion riyals to 73.554 billion riyals, while holdings of foreign bonds and treasury bills fell 44.599 billion riyals to 88.280 billion riyals. Special Drawing Rights deposits were 5.203 billion riyals.
On our calculation, bonds and bills made up 39.5 percent of official reserves in September, against 65.9 percent a year earlier.
Qatar’s official reserves by component, billion riyals
| Component | September 2026 | Change on year | Share of official reserves |
|---|---|---|---|
| Foreign bonds and treasury bills | 88.280 | -44.599 | 39.5% |
| Balances with foreign banks | 73.554 | 62.153 | 32.9% |
| Gold | 56.408 | 4.378 | 25.2% |
| Special Drawing Rights deposits | 5.203 | -0.045 | 2.3% |
Ranked by September value. Official reserves also include Qatar’s position at the International Monetary Fund, which was not published separately. Shares are our calculation.
Total reserves broadly stable
The rise in official reserves was largely offset by a fall in other liquid foreign currency assets, which on our calculation dropped 20.670 billion riyals to 38.832 billion riyals, leaving international reserves and liquidity 1.218 billion riyals higher than a year earlier.
Why it matters: International reserves and foreign currency liquidity edged up on the year, while the official reserves within that total now rest more on balances with foreign banks, which made up 32.9 percent of them in September against 5.7 percent a year earlier, on our calculation.
Outlook: The central bank’s October figures will show whether balances with foreign banks keep gaining ground within official reserves.
Sources: Qatar Central Bank, The Edge.
