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Saudi foreign assets hit USD637b record in July

11 Sep 2012

(MENAFN) Official data showed that Saudi Arabia’s foreign assets soared to a new historical record at USD637.2 billion in July, despite a fall in deposits with banks for the first time this year, Saudi Gazette reported.

According to the figures from Saudi Arabia Monetary Agency (SAMA), all the increase was in its investment in foreign securities.

The figures showed that SAMA’s investment in foreign securities grew to around USD416 billion in July from USD405.23 billion in June and nearly USD381.24 billion at the end of 2011.

SAMA’s foreign assets rose almost USD61.32 billion during the first seven months of 2012.

On the other hand, the figures showed a drop in deposits with banks abroad to USD133 billion in July from USD139.17 billion in the previous month.

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