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Saudi reserve assets abroad rise by 67 billion riyals in September

Saudi Arabia’s reserve assets abroad increased by 4% at the end of September 2021, equivalent to about 67.09 billion riyals (17.89 billion dollars), to reach 1.745 trillion riyals (465.49 billion dollars), compared to 1.68 trillion riyals ($ 447.6 billion) at the end of the same month of 2020. According to statistics conducted by “Al Arabiya.net”, based on the monthly bulletin issued by the Saudi Central Bank, “Sama”, today, Thursday.

Saudi Arabia’s foreign reserve assets increased by 2.35% at the end of last September, compared to about 1.71 trillion riyals ($454.78 billion) at the end of August 2021.

Reserve assets abroad increased, supported by the increase in investments in securities abroad, which had the largest share of total assets by 65.12% last September, to about 1.14 trillion riyals ($303.13 billion), an increase of 7.9% year on year.

Total reserve assets include gold, special drawing rights, reserves with the International Monetary Fund, foreign exchange and deposits abroad, in addition to investments in securities abroad.

The reserve position with the International Monetary Fund rose to 14.45 billion riyals ($3.85 billion) at the end of last September, compared to 12.18 billion riyals ($3.25 billion) at the end of the same month of 2020, an increase of 18.6%.

Foreign exchange and deposits abroad bucked the trend, declining by 11.85% at the end of September 2021, to 511.38 billion riyals (136.37 billion dollars), compared to 580.15 billion riyals (154.71 billion dollars) at the end of the same month of 2020.

It is noteworthy that the foreign reserve assets of the six countries of the Gulf Cooperation Council rose to the highest level this year, by 1.3 percent last June, to reach $664.9 billion.

According to data from the Gulf Statistics Center, the total reserve assets of the countries of the region rose last June from 656.7 billion dollars in the previous May.

The ranking of the region’s countries in terms of the volume of foreign assets globally is ranked fifth after China, Japan, Switzerland and the European Union.

 
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