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FINANCIAL NEWS
Saudi SAMA’s foreign assets shrank at USD 6bn
01 Jun 2016
(MENAFN) Foreign assets at Saudi Arabian Monetary Agency (SAMA) declined by USD 6bn in April as it settled some financial holdings to cover a big state budget deficit.
However, net foreign assets fell by 1.1 percent from the previous month to USD 572bn, whereas assets dropped 15.7 percent from a year earlier since April 2012.
Moreover, the assets are basically denominated in US dollars, such as US Treasury bonds and deposits with banks abroad.
In addition, deposits with banks abroad dropped by 2.2 percent from the previous month to USD 129bn in April, while investment in foreign securities fell to USD 386bn.
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BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
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