Saudi foreign reserves down 8.7% in October

The kingdom’s foreign reserves fell by 0.2%

  
Image used for illustrative purpose. American dollar and Saudi Riyal on the wooden.

Image used for illustrative purpose. American dollar and Saudi Riyal on the wooden.

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Riyadh – Mubasher: The Saudi foreign reserves witnessed a yearly drop of 8.7% in October 2020 to reach SAR 1.674 trillion ($445.956 billion), compared to SAR 1.834 trillion ($488.53 billion) in October 2019.

On a monthly basis, the kingdom’s foreign reserves fell by 0.2% or SAR 3.66 billion ($975.072 million) in October, driven by lower foreign exchange and deposits by 4.8% to SAR 552.2 billion ($147.045 billion), according to the recent monthly bulletin released by the Saudi Arabian Monetary Authority (SAMA).

Investments in foreign securities hiked by 2.28% last month to stand at SAR 1.077 trillion ($287.023 billion), compared with SAR 1.053 trillion ($280.603 billion) in September.

Meanwhile, the Saudi reserve position in the International Monetary Fund (IMF) increased to SAR 12.217 billion ($3.25 billion).

Likewise, Special Drawing Rights (SDR) rose to SAR 30.8 billion ($8.203 billion) in October, while the monetary gold reserves remained unchanged at SAR 1.624 billion ($432.419 million).

Source: Mubasher

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