The reserve assets of the Saudi Central Bank (Sama) achieved an annual growth rate of 5.5%, with an increase of around SAR92 billion ($24.4 billion), bringing the total to SAR1.754 trillion ($465 billion) by the end of the second quarter of 2024, compared to the same period of the previous year, where it registered SAR1.66 trillion ($442 billion), reported SPA.

 

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%, with an increase of approximately SAR46,724 billion, compared to the first quarter of the same year, where they stood at SAR1.707 trillion. Also, the reserve assets grew monthly by 0.1%, increasing around SAR1.146 billion.

 

Reserve assets increased by 6.6% from the beginning of 2024 until the end of June, with an increase of around SAR107,986 billion. They stood at SAR1.646 trillion 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 SAR1.015 trillion, about 58% of the total; Foreign Currency and Deposits Abroad with approximately SAR646,285 billion, about 37% of the total; Special Drawing Rights (SDRs) with SAR77,238 billion, about 4% of the total; Reserve Position in the International Monetary Fund (IMF) with SAR13,331 billion; and Monetary Gold with SAR1,624 billion.