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Saudi central bank’s assets climb to $535 billion in July

An electronic billboard bears the portraits of Saudi King Salman bin Abdulaziz and his son Crown Prince Mohammed bin Salman in Riyadh. (AFP)
By TRENDS Desk
August 29, 2022 8:02 am
  • This translates to a month-on-month growth of 1 percent from the $528 billion in June
  • The central bank’s net foreign assets fell by $2.48 billion during July to $445 billion

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.

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