Saudi foreign reserve assets fall to SAR 1.71T in September

The Kingdom of Saudi Arabia's flag

Saudi Arabia's foreign reserve assets declined by SAR 48.2 billion, or 3%, month-on-month (MoM) to SAR 1.71 trillion in September, according to the Saudi Central Bank (SAMA).

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.

Foreign currency reserves, representing about 95% of total assets, rose by nearly 4% year-on-year (YoY) in September to SAR 1.61 trillion.

Moreover, IMF reserves dropped 12% to SAR 12.6 billion for the same month.

Meanwhile, SDRs increased by 4% to SAR 79.9 billion in September.

Gold reserves remained unchanged at SAR 1.62 billion; same level since February 2008.

To view more details about reserve assets on Argaam MACRO