Saudi foreign reserve assets down 0.3% to SAR 1.62T in February

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Saudi Arabia's foreign reserve assets fell by about SAR 5 billion, or 0.3%, month-on-month (MoM) to SAR 1.62 trillion in February, 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 0.4% year-on-year (YoY) in February to SAR 1.53 trillion.

Moreover, IMF reserves dropped 12% to SAR 12 billion last month.

Meanwhile, SDRs declined by 0.4% to SAR 77.6 billion in February.

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

To view more details about reserve assets on Argaam MACRO