08 Jumada II 1446 - 9 December 2024
    
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Eye of Dubai
Business & Money | Tuesday 18 June, 2024 5:19 am |
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Saudi foreign reserve assets rise to SAR 1.75T in May

Saudi Arabia's international reserve assets grew by 5%, or SAR 85.5 billion, month-on-month (MoM) to SAR 1.75 trillion in May, according to the Saudi Central Bank (SAMA). 
  
On an annual basis, the Kingdom’s foreign reserve assets increased 6%, or SAR 94.8 billion. 


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. 

 

The table below shows development in Saudi Arabia’s foreign reserve assets since 2023: 
 

Saudi Arabia’s Foreign Assets

Period

Value (SAR bln)

Monthly Change (SAR bln)

Change

January 2023

1716.2

(8.2)

(0.5%)

February

1697.3

(18.9)

(1%)

March

1645.0

(52.3)

(3%)

April

1612.1

(32.9)

(2%)

May

1658.2

+46.1

 3%

June

1662.0

+3.8

 0.2%

July

1601.0

(61.0)

(4%)

August

1601.4

+0.4

0.02%

September

1648.1

+46.7

3%

October

1597.4

(50.7)

(3%)

November

1642.5

+45.1

3%

December

1638.4

(4.1)

(0.2%)

January 2024

1646.1

+7.7

0.5%

February

1619.2

(26.9)

(2%)

March

1707.4

+88.2

5%

April

1667.5

(39.9)

(2%)

May

1753.0

+85.5

5%

 

Foreign currency reserves, representing about 95% of total assets, rose by nearly 6% year-on-year (YoY) in May to SAR 1.66 trillion.

 

Moreover, IMF reserves dropped 14% YoY, while special drawing rights (SDRs) edged up 0.4% YoY, as shown below:

 

Foreign Reserve Assets in Details (SAR bln)

Item

May 2023

May 2024

Change

Monetary Gold

1.6

1.6

--

SDRs

77.4

77.7

+0.4%

IMF Reserve Position

14.8

12.7

(14%)

Foreign Currency Reserves

1564.4

1660.9

+6%

Total

1658.2

1753.0

+6%

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