Riyadh, Saudi Arabia— For the first time in more than five years, assets of Saudi Arabia’s central bank have shot up to $535 billion, according to data shared by the central bank on its website.
Its assets grew by $5.2 billion during July to $533 billion. This translates to a month-on-month growth of 1 percent from the $528 billion in June, according to data published on SAMA’s website on Sunday.
The central bank’s net foreign assets fell by $2.48 billion during July to $445 billion. The foreign reserves indicator slipped 0.6 percent in June.
Saudi Central Bank operates as a central bank, focusing on national currency, supervising commercial banks, conducting monetary policy for maintaining price and exchange rate stability, managing foreign exchange reserves, and promoting financial system stability.