By: El Sayed Gamal
Riyadh – Mubasher: Saudi Arabia's foreign reserves declined by 3.04% year-on-year in October 2019.
The kingdom’s international reserves fell to SAR 1.835 trillion ($489.27 billion) last month, down from SAR 1.892 trillion ($504.59 billion) in the same month a year earlier, the Saudi Arabian Monetary Authority’s (SAMA) monthly report revealed.
On a monthly basis, Saudi foreign reserve declined by 2.26% in October, from SAR 1.877 trillion ($500.59 billion) in September.
The value of investments in international securities went down by 2.3% to hit SAR 1.171 trillion ($312.23 billion) in October, against SAR 1.198 trillion ($319.47 billion) in the year-ago period.
The SAMA’s report noted that foreign cash and deposits abroad shrank 5.16% to SAR 622.17 billion ($165.91 billion) last month, compared to SAR 656.04 billion ($174.94 billion) in the same month the previous year.
Saudi reserves at the International Monetary Fund (IMF) rose to SAR 8.87 billion in the previous month, from SAR 6.62 billion in the prior-year period.
The kingdom’s special drawing rights (SDRs) grew to SAR 31.4 billion in the tenth month of 2019, versus SAR 29.79 billion the year before, whereas monetary gold remained unchanged at SAR 1.624 billion.
Translated by: Muhammad Abdul-Wakeel
