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FINANCIAL NEWS
Foreign assets grow 16.2% in Jan-Oct: Saudi CB
03 Dec 2012
(MENAFN) Saudi Arabia Monetary Agency (SAMA) said that its foreign assets jumped by 16.2 percent in the January-October period to USD636 billion, reported Emirates 24/7.
The central bank said that the increase in assets, the largest owned by an Arab central bank, was driven by higher oil prices and output.
It said that almost 66 percent of the growth was in the bank’s investment in foreign securities, which grew by USD59.11 billion to hit USD439 billion.
Moreover, deposits with banks abroad rose by USD27.69 billion to USD137.94 billion.
It is worth noting that in October alone, SAMA’s assets jumped by USD11.71 billion.
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