The Saudi Arabian Monetary Agency (SAMA)’s reserve assets soared to another historic level in August, official data show, to over $757.3 billion.
The jump in August, an increase of $10.4 billion, shows the strength of the Saudi economy, Asharq Alawsat reports, citing economist Abdulaziz Al-Fahad.
Asharq Alawsat:
“SAMA itself attributed the rise in reserves to investments it made outside the Kingdom, which jumped to 2.1 trillion riyals (560 billion dollars) in August, up from 1.9 trillion riyals (506 billion dollars) the same period the previous year, in addition to a year-on-year rise in its gold and foreign currency reserves from 202 billion riyals (54 billion dollars) to 219 billion riyals (58 billion dollars) during the same period.”
