The Saudi Arabian Monetary Agency (SAMA) revealed that the value of the Kingdom's reserve assets rose by 1% to reach 1894 trillion riyals, compared to 1.873 trillion riyals, a growth of 20.79 billion riyals compared to March, recording by that the highest level in seven months specifically since September 2018.
The Saudi reserve assets rose, supported by the growth in foreign exchange, deposits abroad, special drawing rights and the reserves at the IMF. The value of "foreign exchange and deposits abroad" rose by 29.73 billion riyals in April 2019 by 4.9% to reach about 636.98 billion riyals at the end of the month, the highest since November 2018, compared to 607.25 billion riyals by the end of March 2019.
Foreign exchange and deposits abroad accounted for 33.6% of total reserve assets at the end of April 2019 compared to 32.4% at the end of March 2019.
The foreign assets stabilized last month on an annualized basis, while lending to the private sector in Saudi Arabia rose by 0.5% in April compared with March and by 2% year-on-year to reach one trillion four hundred and fifty billion riyals.
Source: (Al-Arabiya.net, Edited)
