Saudi foreign reserve assets fall to SAR 1.61T in February

The Kingdom of Saudi Arabia's flag

Saudi Arabia's international reserve assets retreated by SAR26.98 billion, or 2%, month-on-month (MoM) to SAR 1.619 trillion in February 2024, according to the Saudi Central Bank (SAMA).

On a yearly basis, the Kingdom’s foreign reserve assets plunged 5%, or SAR 78.2 billion.

To view more details about reserve assets on Argaam Tools

Saudi Arabia’s reserve assets include investments in foreign securities, foreign cash and deposits, reserve position in the International Monetary Fund (IMF), special drawing rights (SDRs), and monetary gold.

The table below shows development in Saudi Arabia’s foreign reserve assets since 2023:

Saudi Arabia's Foreign Reserve Assets
Period	Value (SAR bln)	Change MoM (SAR bln)	Change (%)
January 2023	1716.2	(8.2)	(0.5%)
February	1697.3	(18.9)	(1%)
March	1645.0	(52.3)	(3%)
April	1612.1	(32.9)	(2%)
May	1658.2	+46.1	3%
June	1662.0	+3.8	0.2%
July	1601.0	(61.0)	(4%)
August	1601.4	+0.4	0.02%
September	1648.1	+46.7	3%
October	1597.4	(50.7)	(3%)
November	1642.5	+45.1	3%
December	1638.4	(4.1)	(0.2%)
January 2024	1646.1	+7.7	0.5%
February	1619.2	(27.0)	(2%)

Total Reserve Assets (SAR bln)

Source: Argaam Tools

Foreign currency reserves, representing about 94% of total assets, fell by nearly 5% year-on-year (YoY) in February to SAR 1.526 trillion.

Moreover, IMF reserves dropped 9% YoY, while special drawing rights (SDRs) were down by 1% YoY, as shown below:

Foreign Reserve Assets in Details (SAR bln)
Item	February 2023	February 2024	Change (%)
Monetary Gold	1.6	1.6	--
SDRs	77.3	77.9	(1%)
IMF Reserve Position	14.9	13.6	(9%)
Foreign Currency Reserves	1603.6	1526.0	(5%)
Total	1697.3	1619.2	(5%)

Economic Reports

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