Saudi Arabia’s foreign reserve assets decline to SAR 1.59 trln in October

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Saudi Arabia's international reserve assets dropped 3% month-on-month (MoM) to SAR 1.59 trillion in October, according to the Saudi Central Bank (SAMA).

 

On a yearly basis, the Kingdom’s foreign reserve assets fell by 8%, or SAR 143.1 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 2022:

 

Saudi Arabia's Foreign Reserve Assets

Month

Value

(SAR bln)

Change MoM

(SAR bln)

Change

(%)

January 2022

1,675.5

(32.1)

)2%)

February

1,655.7

(19.8)

(1%)

March

1,692.6

+36.9

2%

April

1,693.8

+1.2

0.1%

May

1,693.8

0.04+

0.003%

June

1,750.1

56.3+

3 %

July

1,740.2

(9.9)

(1%)

August

1,715.4

(24.8)

(1%)

September

1,756.2

40.8+

2%

October

1,740.5

(15.7)

(1%)

November

1,770.0

29.5+

2%

December

1,724.4

(45.6)

(3%)

January 2023

1,716.2

(8.2)

(0.5%)

February

1,697.3

(18.9)

(1%)

March

1,645.0

(52.3)

(3%)

April

1,612.1

(32.9)

(2%)

May

1,658.2

46.1+

3%

June

1,662.0

3.8+

0.2%

July

1,601.0

(61.0)

(4%)

August

1,601.4

0.4+

0.02%

September

1,648.1

+46.7

3%

October

1,597.4

(50.7)

(3%)
 
Total Reserve Assets (SAR bln)
 

Foreign currency reserves, representing about 94% of total assets, fell by nearly 9% year-on-year (YoY) in October to SAR 1.50 trillion.

 

Meanwhile, SDRs rose by 3% YoY, and reserve position in the IMF decreased by 5% YoY, as shown below:

 

Foreign Reserve Assets in Details (SAR bln)

Item

October 2022

October 2023

Change

(%)

Monetary Gold

1.6

1.6

--

SDRs

74.4

76.8

3%

Reserve Position in the IMF 

14.2

13.5

(5%)

Foreign Currency Reserves

1,650.2

1,505.4

(9%)

Total

1,740.5

1,597.4

(8%)
 

Details and Historical Data for Macro Economy

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