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Jun 26 2012

Saudi May Money Supply Growth Slows to 7.7% on Year Vs April

Tuesday, Jun 26, 2012

RIYADH (Zawya Dow Jones)--Saudi Arabia's money supply growth slowed to 7.7% on the year in May, compared to 8% in April, data from the Saudi Arabian Monetary Agency , or SAMA , showed Tuesday.

M3, the broadest measure of money supply and an indicator of future inflation, was 1.265 trillion Saudi riyals ($337.3 billion) in May, up from SAR1.174 trillion in the year earlier, according to the data posted on SAMA 's website.

SAMA 's net foreign assets rose to SAR2.188 trillion in May, from SAR1.803 trillion in May 2011, according to the data.

-By Ellen Knickmeyer, Dow Jones Newswires, +96612795252, ellen.knickmeyer@dowjones.com

Copyright (c) 2012 Dow Jones & Co.

(END) Dow Jones Newswires

26-06-12 1222GMT


© Copyright Zawya. All Rights Reserved.


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