Saudi Arabia’s foreign reserve assets remain at 6-year high, hit SAR 1.78T

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Saudi Arabia's foreign reserve assets increased by about SAR 1.7 billion, or 0.1%, month-on-month (MoM) in February, reaching SAR 1.78 trillion, maintaining a six-year high.

Year-on-year (YoY), net foreign assets rose 10%, or SAR 162.5 billion, according to the Saudi Central Bank (SAMA).

Reserve assets include investments in foreign securities, foreign cash and deposits, reserve positions in the International Monetary Fund (IMF), special drawing rights (SDRs), and monetary gold.

Foreign reserves, which account for around 95% of total assets, rose about 10% YoY in February to SAR 1.69 trillion.

Reserves at the International Monetary Fund (IMF) increased 8% to SAR 13 billion.

Special Drawing Rights (SDRs) rose 3% to SAR 80.1 billion.

Meanwhile, gold reserves remained unchanged at SAR 1.62 billion, maintaining the same level since February 2008.