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Saudi Arabia's international reserve assets dropped by SAR 52.3 billion, or 3.1%, month-on-month (MoM) to SAR 1.64 trillion in March, according to the Saudi Central Bank (SAMA).
International reserves maintained their downtrend for the fourth straight month to hit their lowest level since May 2021, when they reached SAR 1.63 trillion.
On a yearly basis, the Kingdom’s reserve assets fell 2.8%, or SAR 47.55 billion.
Saudi Arabia’s reserve assets include investments in foreign securities, foreign currency deposits, the International Monetary Fund (IMF) reserve position, special drawing rights (SDRs) and monetary gold.
The table below shows development in Saudi Arabia’s foreign reserve assets since 2022:
|
Saudi Arabia's Reserve Assets Abroad (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%) |
|
March |
1,645.0 |
(52.3) |
(3%) |
Foreign currency reserves, representing 94% of total assets, retreated by nearly 2.9% year-on-year (YoY) in March, to SAR 1.54 trillion. IMF reserves rose by 5.2%, while SDRs fell 2% YoY, as shown below:
|
Saudi Arabia's Reserve Assets Abroad in Details (SAR bln) |
|||
|
Item |
Mar. 2022 |
Mar. 2023 |
Change |
|
Monetary Gold |
1.62 |
1.62 |
-- |
|
SDRs |
79.95 |
78.38 |
(2.0%) |
|
IMF Reserve Position |
14.35 |
15.09 |
5.2% |
|
Foreign Currency Reserves |
1596.68 |
1549.95 |
(2.9%) |
|
Total |
1692.60 |
1645.05 |
(%2.8) |
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