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Saudi foreign reserve assets decrease by 2% to $431bn in Feb

On a yearly basis, the Kingdom’s foreign reserve assets plunged 5 percent, or SAR 78.2 billion. (SAMA)
By TRENDS Desk
March 12, 2024 4:41 pm
  • On a yearly basis, the Kingdom’s foreign reserve assets plunged 5 percent, or SAR 78.2 billion, Argaam reported, citing Saudi Central Bank (SAMA) data.
  • Foreign currency reserves, representing about 94 percent of total assets, fell by nearly 5 percent year-on-year (YoY) in February to SAR 1.526 trillion.

Riyadh, Saudi Arabia — Saudi Arabia’s international reserve assets decreased by SAR 26.98 billion, or 2 percent, to SAR 1.619 trillion ($431.65 billion) in February 2024, compared to the previous month.

On a yearly basis, the Kingdom’s foreign reserve assets plunged 5 percent, or SAR 78.2 billion, Argaam reported, citing Saudi Central Bank (SAMA) data.

Saudi Arabia’s 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 94 percent of total assets, fell by nearly 5 percent year-on-year (YoY) in February to SAR 1.526 trillion.

Moreover, IMF reserves dropped 9 percent YoY (to SAR 13.6 billion), while special drawing rights (SDRs) were down by 1 percent (to SAR 77.9 billion).

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