Saudi foreign reserve assets up 4% to SAR 1.72T in May

The Kingdom of Saudi Arabia's flag

Saudi Arabia's foreign reserve assets rose by about SAR 73.6 billion, or 4%, month-on-month (MoM) to SAR 1.72 trillion in May, according to the Saudi Central Bank (SAMA).

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.

Foreign currency reserves, representing about 95% of total assets, declined by nearly 2% year-on-year (YoY) to SAR 1.62 trillion in May.

Moreover, IMF reserves went down by 1% to SAR 12.7 billion last month.

Meanwhile, SDRs rose by 3% to SAR 80.2 billion in May.

Gold reserves remained unchanged at SAR 1.62 billion, maintaining the same level since May 2008.

To view more details about reserve assets on Argaam MACRO