Saudi Arabia's reserve assets declined significantly by the end of September 2023 on an annual basis; This is 6.32%, with a decrease of 111 billion riyals ($29.57 billion) compared to its value at the end of the same month last year.
The Kingdom's foreign reserve assets declined. According to the monthly report of the Saudi Central Bank, SAMA, issued today, Tuesday, to the level of 1.645 trillion riyals ($438 billion), compared to 1.756 trillion riyals ($467 billion) at the end of September 2022.
The Kingdom's reserve assets increased by 47 billion riyals ($12.52 billion) during the month of September 2023, compared to their value in the previous month (August). It amounted to 1.60 trillion riyals ($426 billion), increasing on a monthly basis by 2.93%.
At the end of September 2023, the Kingdom’s foreign reserve assets reached their highest levels since June 2023. It amounted to about 1.662 trillion riyals ($442 billion) at the end of last June.
The decline in the Kingdom’s reserve assets came at the end of September 2023, on an annual basis. As a result of the sharp decline in investments in securities abroad by 11.72%, equivalent to 130.33 billion riyals ($34.72 billion), compared to their value in the same month last year.
Investments in securities abroad declined to 982.010 billion riyals ($261.60 billion) by the end of September 2023, compared to 1.11 trillion riyals ($295 billion) in the same month of 2022.
On the other hand, the value of foreign exchange and deposits abroad increased by 3.45% to 573.52 billion riyals ($296.23 billion), compared to 554.36 billion riyals ($147.7 billion) in September 2022.
The reserve position with the International Monetary Fund reached 14.42 billion riyals ($3.85 billion) at the end of September 2023, compared to 13.94 billion riyals ($3.71 billion) in the same month last year.
Special drawing rights rose to 76.66 billion riyals ($20.42 billion) in September of this year, compared to 74 billion riyals ($19.71 billion) in the same month last year.
The value of monetary gold stabilized at 1.62 billion riyals ($433.07 million) at the end of September 2023.
