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Qatar c.bank's foreign reserves, liquidity rebound from sanctions hit
October 5, 2017 / 5:21 PM / in 12 days

Qatar c.bank's foreign reserves, liquidity rebound from sanctions hit

DUBAI, Oct 5 (Reuters) - The Qatar central bank’s international reserves and foreign currency liquidity rebounded in August after falling steeply for two months because of sanctions imposed by other Arab states, official data showed on Thursday.

The reserves and liquidity, a measure of the central bank’s ability to support the riyal currency, recovered to $39.0 billion in August from $36.1 billion in July. In May, just before the sanctions, they had stood at $45.8 billion.

The central bank did not say why they rebounded, but bankers believe the government may have used money from Qatar’s sovereign wealth fund to replenish the reserves. The central bank’s holdings of foreign securities continued shrinking in August but its balances with foreign banks rose sharply. (Reporting by Andrew Torchia; Editing by Andrew Heavens)

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