Saudi Arabia's Reserve Assets Fell to $429.8 Billion

The reserve assets of the Kingdom of Saudi Arabia continued to decline at the end of April 2023 for the fifth consecutive month, recording their lowest levels in more than 12 years.

The Kingdom's foreign reserve assets decreased, according to the monthly report of the Saudi Central Bank "SAMA", issued Sunday, to the level of 1.612 trillion riyals ($429.89 billion), which is the lowest level recorded in 151 monthsو Since it fell to the level of 1.599 trillion riyals ($426.59 billion) at the end of September 2010.

On an annual basis, the Kingdom's foreign reserve assets declined at the end of April 2023 by 4.8% on an annual basis, with a decrease in value of 81.69 billion riyals ($21.78 billion) compared to its value at the end of the same month of 2022, which amounted to 1.694 trillion riyals ($451.67 billion). .

On a monthly basis, the value of Saudi foreign assets decreased by about 32.98 billion riyals ($8.79 billion) during last April, compared to its value at the end of the previous month (March 2023), during which it amounted to 1.645 trillion riyals ($438.68 billion), a decrease of about 2%. .

The decline in the Kingdom's reserve assets came at the end of April 2023, on an annual basis; as a result of the sharp decline in investments in securities abroad by 9.4%, equivalent to 103.23 billion riyals ($27.53 billion) compared to their value in the same month last year.

Investments in securities abroad declined to 995.12 billion riyals ($265.37 billion) at the end of April 2023, compared to 1.098 trillion riyals ($292.89 billion) in the same month of 2022.

On the other hand, the value of foreign exchange and deposits abroad increased by 4% to 521.77 billion riyals ($139.14 billion), compared to 501.56 billion riyals ($133.75 billion) in April of 2022.

The reserve position with the International Monetary Fund amounted to 15.1 billion riyals ($4.03 billion) at the end of April 2023, compared to 14.49 billion riyals ($3.86 billion) in the same month last year.

Special drawing rights (SDRs) rose to 78.46 billion riyals ($20.92 billion) in April of this year, compared to 77.74 billion riyals ($20.73 billion) in the same month last year.

The value of monetary gold stabilized at 1.62 billion riyals ($433.07 million) by the end of April 2023.