Saudi Central Bank (SAMA) reported that its total reserves increased by 6% year-on-year in July, reaching SAR1.697 trillion ($452 billion), up from SAR1.600 trillion ($426 billion) a year earlier.
However, reserves dropped by 3.2% from June’s SAR1.754 trillion ($467 billion), the highest level since November 2022.
SAMA’s monthly report showed a 7% rise in foreign financial investments, reaching SAR1.021 trillion ($272 billion) compared to SAR952.29 billion($253.7 billion) last year.
Meanwhile, the reserve position with the International Monetary Fund (IMF) fell by 8% from June 2023, totaling SAR13.2 billion ($3.5 billion).
Saudi reserves include foreign securities, foreign currency, foreign deposits, IMF reserve positions, special drawing rights, and cash gold.
