Saudi reserve assets rise 8% to $495bn as foreign holdings increase

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.

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