The report showed Qatar’s current account surplus widened to 5.3% of GDP in the third quarter (Q3) from 2.5% in the second quarter (Q2) while the deficit in the financial account narrowed.
The Qatar Central Bank (QCB) has adequate reserves to defend the Qatari riyal as its international reserves are twice the monetary base; indicating its ability to inject dollar liquidity.
Foreign institutions turned bullish on the Qatar Stock Exchange, which otherwise hit a five-year low this week.
Qatar, blockaded by three of its Gulf neighbours since June, is capable of supporting its banks with assets in the country’s vast sovereign wealth fund and foreign currency reserves, the central bank governor said.
All Gulf Cooperation Council countries peg their currencies to the US dollar, with the exception of Kuwait, which pegs its currency to a basket of currencies of which the US dollar is most dominant.
Bangladesh will speed up plans to import rice that it brought in to build reserves and rein in local prices after flash floods hit domestic output, government officials said on Thursday.
China's foreign exchange reserves have fallen to their lowest level in more than three years, the central bank said, as Beijing sells dollars to stop the yuan from depreciating further.