Saudi foreign reserve assets fall to SAR 1.63T in October

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Saudi Arabia's foreign reserve assets declined by SAR 80.9 billion, or 5%, month-on-month (MoM), to SAR 1.63 trillion in October, 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 94% of total assets, rose by nearly 2% year-on-year (YoY) to SAR 1.54 trillion.

IMF reserves dropped 8% YoY to SAR 12.4 billion.

Meanwhile, SDRs increased by 2% YoY to SAR 78.4 billion in October.

Gold reserves remained unchanged at SAR 1.62 billion, maintaining the level since February 2008.

To view more details about reserve assets on Argaam MACRO