Riyadh – Mubasher: Saudi Arabia’s foreign reserve assets inched down 0.9% year-on-year, or SAR 17.04 billion ($4.54 billion), during January, the Saudi Arabian Monetary Authority (SAMA) reported.
The kingdom’s foreign reserve assets amounted to SAR 1.891 trillion ($489.96 billion) last month, compared to SAR 1.854 trillion ($494.5 billion) in the same month a year earlier, according to the Saudi central bank’s data.
The slight decline in assets was attributed to a 2.3%, or SAR 28.04 billion, decrease in investments in overseas securities.
Saudi holdings of overseas securities represented around 64.8% of SAMA’s foreign reserve assets in the prior month.
Month-on-month, the Saudi Central Bank’s foreign reserve assets tumbled by SAR 24.87 billion, or 1.3%, compared to December 2018.
