1.705 trillion riyals Saudi reserve assets abroad .. rose to a 17-month peak

1.705 trillion riyals Saudi reserve assets abroad .. rose to a 17-month peak
1.705 trillion riyals Saudi reserve assets abroad .. rose to a 17-month peak

Saudi reserve assets abroad amounted to about 1.705 trillion riyals at the end of last August, compared to 1.656 trillion riyals at the end of the previous July, an increase of 3 percent, equivalent to 49.7 billion riyals.
According to the analysis of the reports unit in the newspaper “Al-Eqtisadiah”, which was based on the data of the Saudi Central Bank “SAMA”, the rise in reserve assets came mainly from the increase in the “drawing rights” item by about 51.1 billion riyals.
The reserve assets at the end of last month were the highest in 17 months, that is, since March 2020, which reached 1.775 trillion riyals at the end.
Saudi reserve assets abroad also rose at the end of August on an annual basis by 0.3 percent, equivalent to 5.1 billion riyals, after it was 1.7 trillion riyals at the end of the same month of 2020.
The total reserve assets of the Saudi Central Bank “SAMA” include: gold, special drawing rights, reserves with the International Monetary Fund, foreign exchange and deposits abroad, in addition to investments in securities abroad.
In the details of the items of Saudi reserve assets abroad, investments in securities abroad rose on a monthly basis by 1.5 percent “16.9 billion riyals”, to reach 1.131 trillion riyals at the end of last month, compared to 1.114 trillion riyals at the end of the previous month, accounting for 66.3 percent of foreign reserve assets.
The total Saudi foreign exchange and deposits abroad fell to 475.7 billion riyals last month, compared to 493.9 billion riyals at the end of the previous month, a decrease of 3.7 percent, equivalent to about 18.2 billion riyals.
While the “reserves at the Monetary Fund” decreased to 14.45 billion riyals at the end of last month, compared to 14.48 billion riyals at the end of the previous month, a decrease of 0.2 percent, equivalent to 33 million riyals.
“Special drawing rights” jumped to 82.3 billion riyals at the end of last month, compared to about 31.2 billion riyals in the previous month, an increase of 163.5 percent, equivalent to 51.1 billion riyals.
While the balance of “reserves” in Saudi Arabia of gold stabilized at 1.62 billion riyals, the same level that it has maintained since February 2008.
Saudi reserve assets abroad amounted to about 1.7 trillion riyals at the end of last year 2020, with a decline of 9.2 percent, equivalent to 172.2 billion riyals, after it was 1.87 trillion riyals at the end of 2019.
While it rose by 0.6 percent at the end of 2019 (11.05 billion riyals), to about 1.873 trillion riyals, compared to 1.862 trillion riyals at the end of 2018.
It rose during 2019 at the highest pace in five years, that is, since it rose by 24.9 billion riyals in 2014, as reserve assets amounted to 2.721 trillion riyals at the end of 2013, then 2.746 trillion riyals in 2014.
The Saudi Central Bank, “SAMA,” confirmed, earlier, that the returns on the investments of Saudi reserves abroad, which are managed by the bank, are similar to their counterparts in global central banks.
Economic Reporting Unit

Source

trillion riyals Saudi reserve assets rose #17month peak

 
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