Saudi Arabia’s reserves grow 6% to $452.8b in July

Saudi Arabia’s official reserve assets increased to SR1.7 trillion ($452.8 billion) in July, marking a 6.06 percent year-on-year rise, according to recent data.

According to Arab News, data from the Saudi Central Bank, known as SAMA, revealed that international currency holdings — comprising currency and deposits abroad and investments in foreign securities— accounted for 94.53 percent of the total, amounting to SR1.61 trillion in July. This category saw a 6.54 percent increase during the period.

Official reserve assets also include monetary gold, Special Drawing Rights (SDR), the International Monetary Fund’s reserve position, and foreign reserves.

July data showed that SDRs, making up 4.6 percent of the total at SR78.03 billion, decreased by 0.44 percent.

WAM