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SAMA reserve assets grow by 5.5 percent in second quarter of 2024
(MENAFN) The reserve assets of the Saudi Central Bank experienced a notable annual increase of 5.5 percent by the end of the second quarter of 2024, reaching a total of 1.754 trillion riyals (USD467.7 billion). This represents an increase of approximately 92.049 billion riyals (USD24.5 billion) compared to the same period in the previous year, when the reserves stood at 1.662 trillion riyals (USD443.2 billion). According to the Saudi Central Bank’s monthly statistical bulletin for June, these assets have hit their highest levels for the current year.
On a quarterly basis, reserve assets grew by 2.7 percent, an increase of around 46.724 billion riyals from the first quarter of 2024, when reserves were recorded at 1.707 trillion riyals. Monthly data also showed a slight increase of 0.1 percent, equating to an additional 1.146 billion riyals. Since the start of the year, reserve assets have grown by 6.6 percent, up by approximately 107.986 billion riyals from the 1.646 trillion riyals reported at the end of January.
The Saudi reserve assets are comprised of several key components. The largest portion, approximately 58 percent of the total, is invested in foreign securities, amounting to about 1.015 trillion riyals by the end of Q2 2024. Foreign exchange and deposits abroad account for roughly 37 percent of the reserves, totaling around 646.285 billion riyals. Additionally, Special Drawing Rights make up about 4 percent of the reserves, amounting to 77.238 billion riyals.
On a quarterly basis, reserve assets grew by 2.7 percent, an increase of around 46.724 billion riyals from the first quarter of 2024, when reserves were recorded at 1.707 trillion riyals. Monthly data also showed a slight increase of 0.1 percent, equating to an additional 1.146 billion riyals. Since the start of the year, reserve assets have grown by 6.6 percent, up by approximately 107.986 billion riyals from the 1.646 trillion riyals reported at the end of January.
The Saudi reserve assets are comprised of several key components. The largest portion, approximately 58 percent of the total, is invested in foreign securities, amounting to about 1.015 trillion riyals by the end of Q2 2024. Foreign exchange and deposits abroad account for roughly 37 percent of the reserves, totaling around 646.285 billion riyals. Additionally, Special Drawing Rights make up about 4 percent of the reserves, amounting to 77.238 billion riyals.
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