On an annual basis, Saudi foreign reserves contracted by 13% in June to reach $447.43bln
Skyscrapers in Riyadh, Saudi Arabia. Image used for illustrative purpose
By Staff Writer, Mubasher
Riyadh – The Saudi Arabian Monetary Authority’s (SAMA) assets totalled SAR 1.8 trillion in June 2020, down by 7.8% when compared to SAR 1.95 trillion logged in June 2019.
Month-on-month (MoM), the assets grew by 2.6% or SAR 46.76 billion in June, compared with May’s level of SAR 1.75 trillion, according to the recent monthly bulletin released by SAMA.
This monthly increase was backed by higher investments in foreign securities at SAR 1.045 trillion from SAR 1.032 trillion.
Meanwhile, foreign exchange reserve declined to SAR 273.73 billion in June 2020 when compared to SAR 274.72 billion in the previous month, whilst the gold reserve remained unchanged at SAR 1.62 billion.
On an annual basis, Saudi foreign reserves contracted by 13% in June to reach SAR 1.677 trillion ($447.43 billion).
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