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Saudi Arabia’s foreign reserves decreased 9.19% in 2020

Saudi Arabia’s Central Bank announced, in its monthly report, that its reserves in foreign exchange decreased by 9.19% on an annual basis by the end of 2020
PHOTO/HASSAN AMMAR / AFP PHOTO / HASSAN AMMAR

Saudi Arabia’s Central Bank announced, in its monthly report, that its reserves in foreign exchange decreased by 9.19% on an annual basis by the end of 2020.

The reserves decreased SR172.2 billion ($45.92 billion). The total assets now are at SR1.701 trillion ($453.66 billion), compared SR1.873 trillion ($499.58 billion) at the end of December 2019.

Reserve assets at the end of last December decreased by $13.4 billion($3.3 billion), compared to the reserve assets at the end of November, increasing 0.7% on a monthly basis.

The total assets at the end of last November amounted to SR1.713 trillion (456.96 billion).

The report attributed the decline in foreign reserve assets to a decrease in investment in securities abroad by the end of 2020 by 7.1% on an annual basis, equivalent to SR84.75 billion ($22.59 billion).

Banknotes

The Saudi Central Bank report indicated that the value of investment in securities abroad reached SR1.109 trillion ($295.73 billion) by the end of 2020.

This compared to SR1.194 trillion ($318.33 billion) at the end of December 2019.

The report indicated a decline in foreign exchange and deposits abroad by SR91.75 billion ($24.47 billion). This is a 14.4% decline on an annual basis at the end of 2020 recording SR545.43 billion ($145.45 billion), compared to SR637.19 billion ($169.92 billion) at the end of 2019.

As the report showed, the value of the reserve position at the International Monetary Fund improved by 44.8% by the end of 2020, to SR13.66 billion ($3.64 billion), compared to SR9.43 billion ($2.51 billion) at the end of December of 2019.

In the same context, the Special Drawing Rights increased by the end of the year 2020 to SR31.51 billion ($8.4 billion), compared to SR31.44 billion ($8.38 billion) at the end of 2019.

The value of monetary gold by the end of the year 2020 was at SR1.624 billion ($433.07 million).

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