Saudi Arabia’s reserves grow 6% to $452.8b in July - GulfToday

Saudi Arabia’s reserves grow 6% to $452.8b in July

  • 17 Aug 2024
SAUDI-ARABIA-

Picture used for illustrative purposes only.

Saudi Arabia’s official reserve assets increased to SR1.7 trillion ($452.8 billion) in July, marking a 6.06 percent year-on-year rise, according to recent data.

According to Arab News, data from the Saudi Central Bank, known as SAMA, revealed that international currency holdings — comprising currency and deposits abroad and investments in foreign securities— accounted for 94.53 percent of the total, amounting to SR1.61 trillion in July. This category saw a 6.54 percent increase during the period.

Official reserve assets also include monetary gold, Special Drawing Rights (SDR), the International Monetary Fund’s reserve position, and foreign reserves.

July data showed that SDRs, making up 4.6 percent of the total at SR78.03 billion, decreased by 0.44 percent.

WAM

Related articles

Saudi non-oil private sector economy grows on new orders

November saw a further improvement in the health of Saudi Arabia’s non-oil private sector, with latest IHS Markit PMI data indicating a quickening of growth momentum. This was driven by the sharpest rise in new work since April 2015.

03 Dec 2019

Saudi ACWA Power to drive solar energy development in Ethiopia

ACWA Power signed two long-term power purchase agreements (PPA) with Ethiopia’s state-owned electricity producer Ethiopian Electric Power (EEP) for two 125 MWac solar photovoltaic (PV) projects at $2.526 cents/kWh over 20 years.

24 Dec 2019

Saudi, Bahrain non-oil trade hits $2.17 billion in three quarters

Non-oil trade between Saudi Arabia and Bahrain increased 43 per cent to $688.4 million during the third quarter (Q3) of 2020 compared to $481 million during Q3 of 2019.

26 Oct 2020

Abu Dhabi, Saudi trade at Dhs493.8 billion

The value of non-oil trade in goods between the Emirate of Abu Dhabi and Saudi Arabia amounted to Dhs493.8 billion over the past 10 years, in yet a new testament to the robust strategic partnership between the two sides.

24 Sep 2020

Most Popular Stories

Other Articles

Emirates set to receive its first Airbus A350 aircraft in October

Emirates is set to receive its first Airbus A350 aircraft in October, with a total of 5 Airbus aircraft expected to be delivered to the airline by the end of this year.

an hour ago

Total gross banks’ assets exceed Dhs4.3tr by end of June: CBUAE

The Central Bank of the UAE (CBUAE) revealed that total gross banks’ assets, including bankers’ acceptances, rose by 0.5 per cent from Dhs4,287.0 billion at the end of May 2024 to Dhs4,310.2 billion at the end of June 2024. In its Monetary and Banking Developments for June 2024,

an hour ago

Abu Dhabi Securities Exchange welcomes listing of NMDC Energy

The Abu Dhabi Securities Exchange (ADX), one of the fastest-growing exchanges in the world, announced today the listing of NMDC Energy, a key subsidiary of the NMDC Group - a leader in engineering, procurement, construction, and marine dredging. NMDC Energy, a provider

an hour ago

Samsung plans global job cuts of up to 30% in some divisions

SEOUL: Samsung Electronics, the world’s top maker of smartphones, TVs and memory chips, is cutting up to 30% of its overseas staff at some divisions, three sources with direct knowledge of the matter told Reuters. South Korea-based Samsung has instructed subsidiaries worldwide

an hour ago