AI Summary
The Kingdom of Saudi Arabia's flag
Saudi Arabia's international reserve assets rose 3% month-on-month (MoM) to SAR 1.64 trillion in November, according to the Saudi Central Bank (SAMA).
On a yearly basis, the Kingdom’s foreign reserve assets fell by 7%, or SAR 127.6 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%) |
|
November |
1,642.5 |
+ 45.1 |
3% |
Foreign currency reserves, representing about 94% of total assets, fell by nearly 8% year-on-year (YoY) in November to SAR 1.54 trillion.
Moreover, IMF reserves fell 5% YoY, while SDRs rose by 2% YoY, as shown below:
|
Foreign Reserve Assets in Details (SAR bln) |
|||
|
Item |
November 2022 |
November 2023 |
Change (%) |
|
Monetary Gold |
1.6 |
1.6 |
-- |
|
SDRs |
76.3 |
78.1 |
2% |
|
Reserve Position in the IMF |
14.5 |
13.8 |
(5%) |
|
Foreign Currency Reserves |
1677.6 |
1549.0 |
(8%) |
|
Total |
1770.0 |
1642.5 |
(7%) |
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