RIYADH: Saudi Arabia’s foreign reserve assets saw a monthly rise of 5 percent in November, climbing to SR1.74 trillion ($463.6 billion) according to the Kingdom’s central bank.
The increase of SR8.4 billion reinforces the strength and liquidity of the national financial position, and aligns with Saudi Arabia’s strategic objective to bolster its financial safety net amid ongoing economic diversification efforts under Vision 2030.
The reserve assets, a crucial indicator of economic stability and external financial strength, comprise several key components.
According to the central bank, also known as SAMA, the Kingdom’s reserves include foreign securities, foreign currency, and bank deposits, as well as its reserve position at the International Monetary Fund, Special Drawing Rights, and monetary gold.
A detailed breakdown revealed sustained annual growth across major reserve categories. Foreign currency reserves, which constitute the vast majority at 94.5 percent of total assets, grew by nearly 3 percent year on year to SR1.64 trillion.
