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Qatar’s foreign reserves rise 2.6% in January

Qatar's foreign reserves

Doha, (Business News Report)|| Qatar’s foreign reserves have continued to rise for the 47th month in a row, to rise last January by 2.6% on an annual basis.

Qatar Central Bank said that foreign reserves rose to 210.29 billion riyals ($57.77 billion) last month.

Meanwhile, Qatar’s foreign reserves were 204.835 billion riyals ($56.27 billion) in the same month of 2021.

Compared to 209.932 billion riyals ($ 57.67 billion) in December 2021, Qatar’s foreign reserves also increased by 0.17% on a monthly basis.

The foreign reserves continue to rise monthly since it began growing in March 2018, at a time when Qatar is experiencing pressure due to the repercussions of the Coronavirus and the high cost of the World Cup projects. But it shows steadfastness based on the rise in its foreign reserves and the assets of its sovereign fund.

In a separate context, the Qatar Stock Exchange (QSE) gained two billion dollars in a week, to achieve gains of 7.9 billion Qatari riyals ($2.1 billion), in a week.

QSE rose by 1.17%, equivalent to 146.14 points, to close at 12,654.78 points.

The market value of QSE also increased by 1.09% to reach the level of 724.9 billion riyals (about $200 billion). This is compared to 717.0 billion riyals ($196.9 billion) in the previous week.

Among 47 listed companies, the prices of 32 shares increased, while the prices of 14 shares decreased, and one share remained unchanged.

The AlKhaleej Takaful Insurance was the best performing stock during the week, with an increase of 16.3% compared to the previous week.

On the other hand, Qatar German Medical Supplies was the worst performer during the week, declining by 5.9%.

The shares of Qatar Islamic Bank, Mesaieed Petrochemical Holding Company and Qatar Electricity and Water Company were the most prominent contributors to the rise in during the week.

The rise in the shares of Qatar Islamic Bank and Mesaieed gained QSE 48.1 points and 25.4 points during the week.

The increase in the share of Qatar Electricity and Water Company gained QSE 17.9 points during the week.

The value of trading during the past week increased by 0.9% to reach 2,926.2 million riyals ($803.6 million). This is compared to 2,900.5 million riyals ($796.6 million) in the previous week.

The QNB Group share accounted for the highest trading value during the week, with a trading value of 276.8 million riyals ($76 million).

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