Riyadh – Mubasher: Saudi Arabia's foreign reserves slumped by 10.3% annually in January 2021, reaching their lowest level in two months.
The kingdom’s foreign reserves were SAR 1.687 trillion ($450 billion) in January 2021, compared with SAR 1.881 trillion ($500 billion) in the year-ago month, according to data from the Saudi Central Bank (SAMA).
Month-on-month (MoM), the foreign reserves edged down by 0.82% or SAR 14 billion ($3.72 billion) when compared to December 2020.
According to the data, the Saudi government reserve shrank by 23% on an annual basis in January 2021 to reach SAR 362.95 billion, whereas rose by 1.18% or SAR 4.26 billion MoM.
Furthermore, the government’s current account dropped by 2.15% on a monthly basis last January.
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