Saudi central bank’s reserve assets fall 11.8 per cent in October
As of the end of October 2015, the official reserve assets at the Saudi Arabian Monetary Agency (SAMA), the central bank of the Kingdom of Saudi Arabia, stood at SAR2.429 trillion.
This represents a decline by 11.8 per cent compared with SAR2.754trn in October 2014, reports Qatar-based Al Sharq.
SAMA’s monthly statistical bulletin, published on its website on Thursday, says that the reserves recorded a decline of one per cent, compared with SAR2.454trn in September 2015.
The bulletin attributes the stability of the monthly decline at the rate of one per cent to the fact that the government has refrained from drawing on its reserves since it issued bonds valued at SAR95 billion in July to cover the budget deficit caused by falling oil prices.
It is worth mentioning that the total reserve assets of the Central Bank include gold, the rights of private withdrawal, the reserve at the International Monetary Fund, foreign currency, deposits abroad, as well as securities and investments abroad.
(SAR1 = AED0.98, at the time of publishing)