Qatar exchange index hits lowest point in last 6 years

Baku. 24 October. REPORT.AZ/ The main stock exchange index of Qatar "QE Index” at the end of the last day auction declined by 0,5% to 8117,41 points.

Report informs referring to Interfax, this is the lowest level since August 2011.

The reason of QE Index decline is related with lack of progress in the negotiations held for restoring the diplomatic and economic relations with Near East countries. Since beginning of 2017, Qatar Index lost 25% of its value in USD equivalent, and 22,2% in local currency equivalent.

On June 5, Saudi Arabia, Egypt, UAE, Bahrein, cut off diplomatic relations with Qatar. They were followed by other Muslim countries. In order to protect the state economy Qatari government injected 40 billion dollars in financial system of the country in June and July months. The dollar exchange rate in Qatar reached all-time high level and it costs 3.8 Riyal.