Forex reserves more than enough to face blockade challenges: QCB Governor - The Peninsula Qatar

Forex reserves more than enough to face blockade challenges: QCB Governor - The Peninsula Qatar:

The Governor of Qatar Central Bank (QCB) H E Sheikh Abdullah bin Saoud Al Thani affirmed yesterday that the international reserves at the Bank amounted to QR144.7bn by the end of April, noting that these reserves are more than enough to face challenges arising from the unjust blockade imposed on Qatar.

The QCB Governor also noted that they (reserves) do not represent the international reserves of the State; they are only a small part used for monetary policy purposes and to meet the currency issued and local banks’ purchases of dollars as part of the Bank’s exchange rate policy.

Therefore, Qatar’s financial reserves are very strong and capable of countering any negative effects of the blockade.