The reserve assets of the Saudi Central Bank (SAMA) have achieved an annual growth rate of 5.5 percent, according to SAMA’s monthly statistical bulletin for June.
The annual growth shows with an increase of around SAR 92,049 billion ($24.5 billion), bringing the total to SAR 1.754 trillion ($467 billion) by the end of the second quarter of 2024, compared to the same period of the previous year, where it registered SAR 1.662 trillion ($443 billion).
The data showed that 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 percent, with an increase of approximately SAR 46,724 billion ($12.4 billion), compared to the first quarter of the same year, where they stood at SAR 1.707 trillion ($455 billion). Also, the reserve assets grew monthly by 0.1 percent, increasing around SAR 1.146 billion ($305 million).
Reserve assets increased by 6.6 percent from the beginning of 2024 until the end of June, with an increase of around SAR 107,986 billion ($28.7 billion). They stood at SAR 1.646 trillion ($438.6 billion) 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 SAR 1.015 trillion ($270 billion), about 58 percent of the total,
Foreign Currency and Deposits Abroad with approximately SAR 646,285 billion ($172 billion), about 37 percent of the total,
Special Drawing Rights (SDRs) with SAR 77,238 billion ($20.5 billion), about 4 percent of the total,
Reserve Position in the International Monetary Fund (IMF) with SAR 13,331 billion ($3.5 billion),
and Monetary Gold with SAR 1,624 billion ($433 million).
