Mubasher: The Qatari net international reserves dropped $10.4 billion in June to $24.4 billion, according to the data of the Qatar Central Bank.

The plunge in reserves is attributed to the economic sanctions imposed by other Arab states, data showed on Sunday, as reported by Reuters.

Reserves reached their lowest level in at least five years, after Saudi Arabia, the UAE, Egypt, and Bahrain, as well as other countries, decided to cut their diplomatic relations, as well as travel and trade ties with Qatar.

However, Reuters noted that Qatar's sovereign wealth fund is believed to have around $180 billion or more of liquid foreign assets which could be used to replenish the reserves.