RIYADH: Saudi Arabia’s official reserve assets rose 8.06 percent from a year earlier to SR1.85 trillion ($494.55 billion) at the end of June, driven by higher foreign currency reserves, official data showed.
On a monthly basis, the Kingdom’s official reserve assets increased by 1.28 percent during June, up by SR23.44 billion from their value at the end of May, which stood at SR1.83 trillion, according to data released by the Saudi Central Bank.
The Kingdom’s reserve position remains among the largest in the Middle East, providing a substantial buffer against external shocks stemming from recent regional geopolitical conflicts and reinforcing investor confidence in the Saudi economy amid ongoing global economic uncertainty.
Total reserve assets include monetary gold, foreign currency reserves, special drawing rights, the reserve position with the International Monetary Fund, and other reserve assets.
SAMA’s data showed that the value of foreign currency reserves rose 8.7 percent year on year to SR1.76 trillion at the end of June, compared with SR1.62 trillion 12 months earlier.
