FINANCIAL NEWS

Saudi SAMA’s investment in foreign bonds grows 21 in 2012

05 Mar 2013

(MENAFN) Saudi Arabian Monetary Agency (SAMA) investments in overseas bonds and shares jumped by 21 percent in 2012 to USD453.2 billion compared to 2011, Arab News reported.

According to the paper, this represented 70 percent of SAMA’s USD663.8 billion in total assets by January this year, boosted by oil-related foreign exchange inflows in recent years.

SAMA’s deposits with banks operating outside the Saudi Arabia stood at USD110.4 billion in 2011, up 20.4 percent from USD91.68 billion in 2010.

Investment in foreign securities also soared by 20.8 percent to USD373.2 billion in 2011, faster pace than 10.3 percent growth in 2010, the report said.

The currency cover rose by 24.3 percent to USD45.1 billion in 2011 compared to a rise of 10.5 percent in the previous year.

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