The Saudi Central Bank (SAMA) reported an annual growth rate of 5.5% in its reserve assets, increasing by approximately SAR 92 billion to reach SAR 1.75 trillion by the end of the second quarter of 2024. This compares to SAR 1.66 trillion recorded during the same period in the previous year.
SAMA’s monthly statistical bulletin for June shows that reserve assets reached their highest levels by the end of June 2024. Quarterly growth was up 2.7% to SAR 47 billion from the first quarter’s SAR 1.70 trillion. Monthly growth in June was 0.1%, up SAR 1.1 billion.
From the start of 2024 to the end of June, reserve assets grew by 6.6%, surging by about SAR 108 billion from SAR 1.64 trillion in January.
The reserve assets are composed of five main components: investments in foreign securities at SAR 1.01 trillion (58% of the total), foreign currency and deposits abroad at SAR 646 billion (37% of the total), special drawing rights (SDRs) at SAR 77 billion (4% of the total), reserve position in the International Monetary Fund (IMF) at SAR 13 billion, and monetary gold at SAR 1.6 billion.
