(MENAFN) Saudi central bank boosted its holding of more high-yield investments in foreign securities, when it declined the worth of money it holds in low-yield banks deposits abroad in July.
The bank's net foreign assets that reflects its capacity to support its dollar peg to the riyal dropped by 1 percent to SR1.64 trillion in July from the month before, steadying at a good level to defend its currency peg, according to data from the Saudi Central Bank (SAMA).
SAMA further declared in its monthly report that in July, time SAMA raised the total of money it invested in foreign securities by SR5 billion to SR1.130 trillion, recording the highest monthly number since April.
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