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Saudi posts USD10.47b rise in Jan-Apr foreign assets: CB

30 May 2012

(MENAFN) Saudi central bank (SAMA) stated that during the January-April period, the country’s foreign assets grew by around USD10.47 billion, driven by higher oil prices and crude output, reported Emirates 24/7.

The bank said that at the end of April, the Kingdom’s foreign assets reached USD590 billion, up from around USD580 billion at the end of the previous month.

It added that during the 4-months period, deposits with banks outside the country rose by about USD266 million, reaching USD132.24 billion, whereas investments in foreign securities were at USD395 billion, with a gain of USD9.60 billion.

It is worth noting that high oil prices, allied with a rise in Saudi oil production boosted the country’s foreign assets by around USD93.84 billion last year.

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