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Saudi Arabia's international reserve assets went up 0.5% month-on-month (MoM) to SAR 1.64 trillion in January 2024, according to the Saudi Central Bank (SAMA).
On a yearly basis, the Kingdom’s foreign reserve assets fell by 4%, or SAR 70 billion.
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 the development of 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% |
Foreign currency reserves, representing about 94% of total assets, fell by nearly 4% year-on-year (YoY) in January to SAR 1.55 trillion.
Moreover, IMF reserves dropped 8% YoY, while special drawing rights (SDRs) were down by 1% YoY, as shown below:
|
Foreign Reserve Assets in Details (SAR bln) |
|||
|
Period |
January 2023 |
January 2024 |
Change (%) |
|
Monetary Gold |
1.6 |
1.6 |
-- |
|
SDRs |
78.3 |
77.9 |
(1%) |
|
IMF Reserve Position |
14.9 |
13.7 |
(8%) |
|
Foreign Currency Reserves |
1621.3 |
1552.9 |
(4%) |
|
Total |
1716.2 |
1646.1 |
(4%) |
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