Qatar witnessed a 7.5% year-on-year growth in total currency issued (in value) in June 2021 with the coins issuance expanding faster than the notes, according to the central bank data.
Total currency issued amounted to QR24.09bn in June 2021 with the notes issued registering a 7.47% growth to QR24.03bn and coins issued by 9.05% to QR57.09mn, said the figure released by the Qatar Central Bank (QCB).
The currency issued refers to those issued by the QCB, which consists of currency with the public and cash in vaults with the commercial banks.
Within the notes, the denomination of QR5 and QR10 grew in double-digit and there was a marginal jump in the QR500 denomination; whereas QR100 and QR50 saw declines year-on-year in the review period.
The coins issuance until June this year has already exceeded the total coins issuance at the end of December 2020. Similarly, the issuance of QR1, QR5 and QR10 notes exceeded the total issuance of such denominations at the end of December last year.
Within notes, the QR500 has seen its issuance jump 1.88% to value at QR18.34bn, which is 91.7% of the total issuance of such denomination at the end of December 2020.
The QR10 has witnessed a stupendous 35.14% year-on-year growth to QR0.50bn in June 2021. Its issuance in June has already exceeded the December 2020 issuance by 1.19 times.
The second fastest growing segment was QR5, whose issuance witnessed a 23.61% surge year-on-year to QR0.5bn in June this year. The issuance of this denomination has exceeded the December 2020's issuance by 1.22 times.
The QR1 has witnessed a robust 6.66% increase year-on-year to QR0.16bn in June 2021. The denomination's issuance in June has already exceeded the issuance at the end of December 2020 by 1.07 times.
However, in the case of QR100 denomination, its issuance witnessed 27.2% decrease year-on-year to QR1.82bn in June 2021. The issuance has reached 60.66% of the total issuance at the end of December 2020.
Similarly, the QR50 issuance saw 14.41% shrinkage year-on-year to QR0.95bn in June 2021. The denomination's issuance has reached 70.89% of the total issuance at the end of December 2020.
In the case of QR200 denomination, its issuance amounted to QR2.01bn in June 2021. The QR200 was put into circulation only in December last year.
The denomination came as part of QCB introducing the fifth series in the country's currency regime. The introduction of QR200 "aims to bridge the gap between the QR100 and QR500", executive director of the Public Debt, Banking Affairs and Issuance at QCB, Mohamed Jassim al-Kuwari, had said at the time of announcing the new series.
Within coins, the 50 dirhams witnessed 7.79% increase to QR39.56mn in June 2021. Its issuance has already exceeded the December 2020 issuance by 1.08 times.
The 25 dirhams denomination has seen its issuance expand 12.15% year-on-year to QR17.07mn in June 2021. The issuance has exceeded the December 2020 issuance by 1.12 times.