Investment inflows into Qatar exceeded outflows even as the Gulf nation grappled with diplomatic isolation by its neighbors, its central bank governor Abdullah Saud Al-Thani told CNBC in a Sunday interview.
Al-Thani said a "not very significant" amount of less than $6 billion left Qatar over the last month, mostly moved out by non-residents on the first and second day of the crisis. But that level is not too different from those observed before the regional dispute, the central banker said.
"Some of them went as foreign currencies, (it) is normal as it was … We haven't seen a very significant amount drawn from our reserves, and we are satisfied that it is a normal amount of money (that) has been drawn in the last month almost," he said.
Qatar has denied accusations by its neighbors that it supports terrorism and allies with regional foe Iran. But Saudi Arabia, the United Arab Emirates, Egypt and Bahrain have pressed on, pledging to take new political, economic and legal steps against Qatar.
Since the spat first unfolded in June, the Qatari stock market sunk and the country's currency — the riyal — fluctuated wildly, while ratings agency Moody's downgraded Qatar's sovereign credit to "negative" from "stable."
But Al-Thani downplayed the overall impact of the crisis on the country's economy and financial system. He noted that the country's stock market is attracting more interest from foreign investors.