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Saudi Arabia's international reserve assets fell by SAR 18.9 billion, or 1%, month-on-month (MoM) to SAR 1.69 trillion in February, according to the Saudi Central Bank (SAMA).
The reserve assets hit their lowest level since May 2022 due to a decline in foreign currency reserves.
On a yearly basis, the Kingdom’s reserve assets rose 3%, or SAR 41.6 billion.
Saudi Arabia’s international reserves include five items, which are investments in foreign securities, foreign cash and deposits, International Monetary Fund (IMF) reserve position, special drawing rights (SDRs) and monetary gold.
The table below shows the development in Saudi Arabia’s foreign reserve assets since 2022:
|
Saudi Arabia's International Reserve Assets Since 2022 (SAR bln) |
|||
|
Month |
Value (SAR bln) |
MoM Change (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%) |
Foreign currency reserves, representing nearly 94% of total assets, grew nearly 3% year-on-year (YoY) in February, to SAR 1.60 trillion. IMF reserves rose YoY by 3%, while SDRs declined 4%, as shown below:
|
Saudi Arabia's International Reserve Assets (SAR bln) |
|||
|
Item |
Feb. 2022 |
Feb. 2023 |
Change (%) |
|
Monetary Gold |
1.62 |
1.62 |
-- |
|
SDRs |
80.67 |
77.25 |
(4%) |
|
IMF Reserve Position |
14.48 |
14.87 |
+3% |
|
Foreign Currency Reserves |
1558.94 |
1603.57 |
+3% |
|
Total |
1655.71 |
1697.32 |
+3% |
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