Saudi reserve assets abroad rose by 1.73 percent by end of March 2020

The Kingdom’s reserve assets rose by 1.73 percent; equivalent to SR28.68 billion by the end of last March 2020; to reach SR1.683 trillion ($448.9 billion); compared to SR1.65 trillion ($441.3 billion) by the end of February 2021.

The monthly bulletin for the Saudi Central Bank (SAMA) showed a 5 percent decline in reserves by the end of last March; compared to March 2020; when the reserve level was SR1.77 trillion ($473.4 billion).

This rise came on a monthly basis; with support from the increase in investments in securities abroad; the largest share in reserves at 67 percent; after increasing the securities to approximately SR1.124 trillion by the end of last March; compared to about SR1.122 trillion by the end of February 2021.

The total reserve assets include gold; Special Withdrawal Rights (SDRs); the reserve at the International Monetary Fund (IMF); foreign exchange and deposits abroad; in addition to investments in securities abroad.

The rise in reserve assets by the end of March 2021; came on a monthly basis; with support as well by increasing the foreign exchange and deposits abroad to approximately SR513.6 billion; compared to SR486 billion by the end of February 2021; with an increase of 5.7 percent.