The existence of highly correlated quasi-biennial variations in the geomagnetic field and in solar activity is demonstrated. The analysis uses a numerical filter technique applied to monthly averages of the geomagnetic horizontal component and of the Zurich relative sunspot number. Striking correlations are found between the quasi-biennial geomagnetic variations determined from several magnetic observatories located at widely different longitudes, indicating the worldwide nature of the obtained variation. The correlation coefficient between the filtered Dst index and the filtered relative sunspot number is found to be -0.79 at confidence level >99% with a time lag of 4 months, solar activity preceding the Dst variation. The correlation between the unfiltered data of Dst and those of the sunspot number is also high with a similar time lag. Such a time has not been discussed in the literature, and a further study is required to establish the mode of sun-earth relationship that gives this time delay.