Riyadh – Mubasher: Saudi Arabia's net foreign assets continued to fall losing 1.94% to $561.8 billion in June from $572.9 billion in May.
The decrease was attributed to a 0.37% increase in foreign currencies and gold, according to MubasherTrade’s report released on Sunday.
Deposits with banks abroad and the value of investments in foreign securities declined 1.44% and 0.86%, respectively, which also contributed to the fall in assets.
“On an annual basis, international reserves decline pace accelerated marginally from -14.8% year-on-year in May to -15.45% year-on-year in June.,” the report said.
MubasherTrade expected the decline rate to ease over the coming months, backed by the reforms implemented on the fiscal side.
