|30 December, 2019

Saudi foreign reserves up 2.2% in November: SAMA

Saudi reserve assets exceeded $500bln in November

Image of Saudi riyal used for illustrative purpose.

Image of Saudi riyal used for illustrative purpose.

Getty Images/Mohd Hafiez Mohd Razali / EyeEm

Riyadh – Mubasher: Saudi Arabia’s foreign reserve assets grew by 2.2% or SAR 41 billion ($10.88 billion) during November, compared with the previous month.

Reserve assets surged to SAR 1.876 trillion ($500.15 billion) last month, compared with SAR 1.835 trillion ($489.33 billion) in October, according to the Saudi Arabian Monetary Authority (SAMA) Monthly Statistical Bulletin for November 2019.

The increase in reserves was supported by growth in foreign currency and deposits abroad by SAR 36.95 billion ($9.85 billion) to SAR 659.12 billion.

Investment in foreign securities also added up to SAR 1.175 billion, while Special Drawing Rights (SDR) increased to SAR 31.29 billion.

Meanwhile, the Saudi reserve position in the International Monetary Fund (IMF) decreased to SAR 8.43 billion ($2.25 billion).

On an annual basis, foreign reserves declined by 0.8%, compared with SAR 1.891 trillion ($504.37 billion) in November 2018.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Markets