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Saudi Arabia's international reserve assets went down 0.2% month-on-month (MoM) to SAR 1.63 trillion in December 2023, according to the Saudi Central Bank (SAMA).
On a yearly basis, the Kingdom’s foreign reserve assets fell by 5%, or SAR 86 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% |
|
December |
1,638.4 |
(4.1) |
(0.2%) |
Foreign currency reserves, representing about 94% of total assets, fell by nearly 5% year-on-year (YoY) in December 2023 to SAR 1.54 trillion.
Moreover, IMF reserves dropped 5% YoY, while special drawing rights (SDRs) rose by 1% YoY, as shown below:
|
Foreign Reserve Assets in Details (SAR bln) |
|||
|
Item |
December 2022 |
December 2023 |
Change (%) |
|
Monetary Gold |
1.6 |
1.6 |
-- |
|
SDRs |
77.3 |
78.4 |
1% |
|
IMF Reserve Position |
14.7 |
13.9 |
(5%) |
|
Foreign Currency Reserves |
1630.8 |
1544.5 |
(5%) |
|
Total |
1724.4 |
1638.4 |
(5%) |
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