Ikrami Abdullah from Riyadh
Saudi reserve assets abroad at the end of last month amounted to about 1.71 trillion riyals, compared to 1.67 trillion riyals at the end of last October, up 2.3 percent, equivalent to 38.8 billion riyals, reflecting a strong recovery from the repercussions of the "Corona" pandemic on the local economy.
According to the monitoring unit of the reports in Al-Eqtisadiah newspaper, it was based on the data of the Saudi Central Bank (SAMA). This is the largest monthly increase in a year (12 months), that is, since November 2019, when it increased by about 40.9 billion riyals.
The increase in reserve assets came due to the rise in foreign exchange and deposits abroad 4.1 percent, equivalent to 22.6 billion riyals, and investments in securities abroad by 1.4 percent, including 15.6 billion riyals.
The total reserve assets of the Saudi Central Bank "SAMA" include gold, special drawing rights, reserves with the International Monetary Fund, foreign exchange, and deposits abroad, in addition to investments in securities abroad.
On an annual basis, Saudi reserve assets abroad fell by 8.6 percent, equivalent to 162.1 billion riyals, after it was 1.876 trillion riyals at the end of the same month of 2019.
And 40 billion dollars (150 billion riyals) were transferred from the reserves of the Central Bank of Saudi Arabia (SAMA) to the Public Investment Fund, on an exceptional basis, during March and April, to support its movement to exploit opportunities in global markets.
In the details of the items of Saudi reserve assets abroad monthly, the item of "investments in securities abroad" increased by 1.4 percent "15.6 billion riyals", to reach 1.09 trillion riyals at the end of last month, compared to 1.08 trillion riyals at the end of the previous month.
The item "foreign exchange and deposits abroad" rose 4.1 percent "22.6 billion riyals", to reach 574.9 riyals at the end of last month, compared to 552.24 billion riyals at the end of the previous month.
Reserve with the IMF rose 1.3 percent (156 million riyals), to 12.37 billion riyals at the end of last month, compared to 12.17 billion riyals at the end of the previous month.
The "Special Drawing Rights" rose 1.3 percent "397 million riyals", to reach 31.21 billion riyals by the end of last month, compared to about 30.81 billion riyals in the previous month.
While the balance of "reserves" in Saudi Arabia of gold stabilized at 1.62 billion riyals, which is the same level it has maintained since February 2008.
Saudi reserve assets abroad during 2019 rose 0.6 percent (11.05 billion riyals), to about 1.873 trillion riyals, compared to 1.862 trillion riyals by the end of 2018.
And it rose during 2019 at the highest pace in five years, that is, since it rose by 24.9 billion riyals in 2014, as reserve assets reached 2.721 trillion riyals by the end of 2013, then 2.746 trillion riyals in 2014.
The Saudi Central Bank (SAMA) confirmed, earlier, that the returns on investments in Saudi reserves abroad, which are managed by the corporation, are similar to their counterparts in international central banks.
Economic Reports Unit