The reserve assets of the Saudi Central Bank (SAMA) achieved an annual growth rate of 5.5 per cent, with an increase of around SR92.049bn ($24.5bn), bringing the total to SR1.754tn ($467.4bn) by the end of the second quarter of 2024, compared to the same period of the previous year, where it registered SR1.662tn ($442.9bn).
The data showed that, according to SAMA’s monthly statistical bulletin for June, by measuring the levels of reserve assets during the current year, they reached their highest levels by the end of June 2024.
The reserve assets also recorded a quarterly growth of 2.7 per cent, with an increase of approximately SR46.724bn ($12.5bn), compared to the first quarter of the same year, where they stood at SR1.707tn ($454.9bn).
Saudi Central Bank reserves
Also, the reserve assets grew monthly by 0.1 per cent, increasing around SR1.146bn ($305.4m).
Reserve assets at Saudi Central Bank increased by 6.6 per cent from the beginning of 2024 until the end of June, with an increase of around SAR107.986bn ($28.8bn). They stood at SR1.646tn ($438.6bn) by the end of January.
The reserve assets consist of five main components:
- Investments in Foreign Securities, which by the end of the second quarter of 2024 reached around SR1.015tn ($270.5bn), about 58 per cent of the total
- Foreign Currency and Deposits Abroad with approximately SR646.285bn ($172.2bn), about 37 per cent of the total
- Special Drawing Rights (SDRs) with SR77.238bn ($20.6bn), about 4 per cent of the total
- Reserve Position in the International Monetary Fund (IMF) with SR13.331bn ($3.6bn); and Monetary Gold with SR1.624bn ($432.8m)
