By Mohamed Idries
Riyadh – Mubasher: Saudi Arabia’s M3 money supply rose by 4% or SAR 67.2 billion to SAR 1772.5 billion in October from SAR 1705.4 billion in October 2014, but fell by 3% from figures recorded in September, 2015, showed a statistical bulletin issued by the central bank.
The Saudi Arabian Monetary Agency (SAMA) ascribed the growth year-on-year to a rise in M1 money supply by 8% or SAR 88 billion due to an increase in demand deposits by 8% or SAR 72 billion. In addition, cash traded outside banks rose by 10% or SAR 170.9 billion.
Meanwhile, saving deposits rose by 2% or SAR 6.4 billion to reach SAR 403.8 billion at the end of October. Thus, M2 money supply grew by 6%.
