|21 September, 2019

Saudi Arabia's foreign assets rise $13.33bln in Q2 2019

Total reserve assets went up by 2.7% quarter-on-quarter

A Saudi money changer counts U.S banknotes at a currency exchange shop in Riyadh, Saudi Arabia September 29, 2016. Image used for illustrative purpose.

A Saudi money changer counts U.S banknotes at a currency exchange shop in Riyadh, Saudi Arabia September 29, 2016. Image used for illustrative purpose.

REUTERS/Faisal Al Nasser

Riyadh –  Saudi Arabia’s foreign reserve assets increased by 2.7%, or SAR 49.6 billion, quarter-on-quarter, to reach SAR 1.913 trillion in the second quarter of 2019. The kingdom’s foreign assets rose by 1.5% year-on-year.

Total reserve assets went up by 2.7% quarter-on-quarter, 1.2% year-on-year, to SAR 1.923.3 trillion, during the three-month period ended 30 June 2019, the Saudi Arabian Monetary Agency’s (SAMA) data showed.

Reserves status in the International Monetary Fund (IMF) grew by 6.3% to SAR 8.1 billion in Q2-19, while investments in overseas securities fell 3.8% year-on-year to SAR 1.180 trillion in the same period.

Deposits and foreign cash surged 15.5% year-on-year to SAR 701.2 billion in Q2-19. Special Drawing Rights (SDRs) increased by 5.6% year-on-year and monetary gold reserves levelled up to SAR 1.6 billion.

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