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

All Rights Reserved - Mubasher Info © 2005 - 2020 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.