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Shrinking Reserve Assets Abroad of Saudi Arabia

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Ziad Najjar
Ziad Najjar is an Egyptian author who studied business and finance in the United States and has a keen interest in media. He combines his expertise in these fields to create informative and engaging works accessible to a broad audience.

Saudi Arabia’s reserve assets abroad decreased in March 2023 by 52.3 billion riyals, or 3.1%, to reach 1,645 billion rials.

The decrease was compared to February 2023, according to the economic website Arqaam based on data from the Central Bank of Saudi Arabia.

Saudi Arabia’s reserve assets abroad continue to decline for the fourth consecutive month on a monthly basis, reaching the lowest level since May 2021, when they stood at 1,639.35 billion rials.

Compared to March 2022, the Kingdom’s reserve assets decreased by 47.55 billion rials, or 2.8%.

Saudi Arabia’s reserve assets include five items, which are investments in securities abroad, foreign exchange, deposits abroad, reserves in the International Monetary Fund, special drawing rights and monetary gold.

Source: numbers

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