Riyadh –  Saudi Arabia's foreign reserves increased by 4.5% year-on-year, or SAR 82.45 billion ($21.99 billion), in the third quarter of 2018, registering SAR 1.902 trillion ($507.21 billion), from SAR 1.819 trillion ($485.22 billion), the Saudi Arabian Monetary Authority (SAMA) reported.

The Kingdom’s foreign cash and overseas deposits grew SAR 103.59 billion ($27.62 billion), or 18.6%, reaching SAR 569.61 billion during the three-month period ended September, compared to SAR 556.02 billion in the year-ago period, SAMA added.

On the other hand, the Saudi central bank’s investments in international securities decreased by 1.7% to SAR 1.204 trillion ($321.27 billion) by the end of Q3-18, from SAR 1.226 trillion ($326.88 billion) in the same period a year before.

Year-on-year, reserves status at the International Monetary Fund (IMF) tumbled 16.4% to SAR 5.95 billion ($1.59 billion) in Q3-18, compared to SAR 7.12 billion ($1.9 billion).

On a separate note, Saudi gold reserves remained stable at SAR 1.624 billion ($433 million) from July to September 2018.

Quarter-on-quarter, Saudi reserves inched up SAR 2.21 billion, or 0.12%, in Q3-18, from SAR 1.899 trillion.

During the first nine months of 2018, the GCC nation’s reserves rose SAR 40.44 billion ($10.78 billion), or 2.2%, compared to SAR 1.861 trillion by the end of Q4-17.

Source: Mubasher

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