The foreign assets of the Saudi Central Bank decreased by 4.5% and by $ 20 billion in April.
According to Reuters, data from the Saudi Arabian Monetary Agency (the central bank) showed a decrease in the net foreign assets of the institution to 443.75 billion dollars in April from 464.64 billion dollars in March March.
The data of the Monetary Agency showed a decline in the total reserve, which includes foreign exchange and foreign deposits, as well as investment in foreign securities, by about 25 billion dollars on a monthly basis during April .
The Finance Minister said on Friday that the kingdom transferred a total of $ 40 billion in foreign reserves to the Monetary Agency to fund investments for the Public Investment Fund, the sovereign wealth fund, in March March and April. Finance Minister Mohamed Al-Jadaan said in a statement that the transfers to the Public Investment Fund were made exceptionally.
The Kingdom, the largest oil exporter in the world, is suffering from a historical decline in crude prices and also the measures imposed to combat the Corona virus, which has affected its non-oil economy.
Net foreign assets at the monetary agency fell by about $ 27 billion in March on a monthly basis, which is the fastest pace in at least 20 years.
