Saudi foreign reserve assets down 1% to SAR 1.62T in January

The Kingdom of Saudi Arabia's flag

Saudi Arabia's foreign reserve assets fell by SAR 10.8 billion, or 1%, month-on-month (MoM) to SAR 1.62 trillion in January, 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, declined by nearly 1% year-on-year (YoY) in January to SAR 1.53 trillion.

Moreover, IMF reserves dropped 13% to SAR 11.9 billion for the same month.

Meanwhile, SDRs declined by 1% to SAR 77 billion in January.

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

To view more details about reserve assets on Argaam MACRO