Riyadh – Mubasher: The Saudi foreign reserves recorded SAR 1.775 trillion ($473 billion) during the first quarter (Q1) of 2020, decreasing by 5.2% year-on-year (YoY) or SAR 98 billion ($26 billion) compared to its level by the end of Q1-19.
Reserves contracted by 4.8% or SAR 89 billion on a monthly basis compared to the level recorded by the end of February at SAR 1.864 trillion ($495 billion).
The decline in reserve assets by the end of March came amidst an 8.5% decrease in investment in foreign securities to SAR 1.121 trillion.
Foreign currency and deposits abroad levelled up by 0.72% YoY to SAR 611.634 billion, while thinning by 0.55% on a monthly basis to about SAR 615.038 billion.
Saudi reserve position in the International Monetary Fund (IMF) has also increased last month to SAR 9.25 billion, up from SAR 7.58 billion in the same period a year ago.
Monetary gold reserves remained stable at SAR 1.624 billion ($433.07 billion).
