Qatar’s foreign reserves saw a slight increase in January 2026, reaching USD 71.95 billion, stated the Qatar Central Bank (QCB). The figures, which show a steady rise in the Gulf country’s international reserves and foreign currency liquidity, also have one notable highlight: a significant 12.8% month-on-month rise in Qatar’s gold investments, which now stand at USD 18.13 billion, marking the highest level ever recorded.
This growth in currency reserves further underscores Qatar’s increasingly robust financial position, which is expected to be mirrored in the December 2025 data of other Gulf Cooperation Council (GCC) countries.
The GCC nations, whose currencies are pegged to the US dollar, typically align their monetary policies with that of the Federal Reserve. Accumulating foreign reserves is crucial for maintaining the stability of these currency pegs, apart from managing liquidity and safeguarding exchange rates, especially during periods of global financial uncertainty.
However, in a slight headache for the Gulf nation, the report also revealed a decline in investments in foreign treasury bonds and bills, which fell by 9% month-on-month basis to approximately USD 30.1 billion — the lowest level in five years. In contrast, the total balances held with foreign banks saw an 18.7% increase, reaching USD 5.92 billion, the highest figure in 10 months.
QCB’s international reserves and foreign currency liquidity also showed a year-on-year increase of 2.65% in December, reaching USD 71.7 billion, as reported by the Qatar News Agency.
This trend of rising foreign reserves is not unique to Qatar. In November 2025, Saudi Arabia’s foreign reserve assets saw a notable 5% increase, reaching USD 463.6 billion, suggesting a regional trend of accumulating financial buffers.
“In addition, Qatar’s economic resilience continues to be recognised globally. In March 2025, Fitch Ratings reaffirmed the country’s ‘AA’ credit rating, citing its expanding liquefied natural gas production capacity and high per capita income. The rating reflects Qatar’s strong fiscal position, with one of the highest GDPs per capita globally and a flexible public finance framework that bolsters its economic stability,” Qatar News Agency reported further.
An “AA” rating signals very low credit risk and a strong ability to meet financial obligations, even amid potential economic challenges. Qatar achieving this rating also aligns the Gulf country with a broader regional shift, as Middle Eastern countries continue to diversify their economies to reduce dependence on oil revenues.