The liquidity levels of the Kingdom of Saudi Arabia experienced 8.3% year-on-year (YoY) growth by the end of March 2024, reaching over SAR 2.823 trillion, compared to the SAR 2.60 trillion achieved during the same period in 2023.
The Kinhdom’s month-on-month (MoM) total liquidity grew 2.50% from SAR 2.75 trillion in February, according to data released by the Saudi Press Agency.
Moreover, the currency in circulation outside banks rose 9.60% YoY to more than SAR 227.49 billion in March from SAR 207.55 billion.
The surge in the total money supply was attributed to an increase in demand deposits, the largest contributor to the overall total, at about 49.8%.
During this period, demand deposits reached a value of SAR 1,407,114 million, reflecting an annual growth exceeding SAR 52.722 billion, a 3.9% increase compared to SAR 1,354,392 million at the end of March 2023.
Time and savings deposits, the second-largest contributor to the total money supply, accounted for around 29.9% and reached a value of around SAR 843.248 billion.
Currency in circulation outside banks contributed around 8.1% to the total money supply, totalling SAR 227.491 billion. It experienced an annual increase of 9.6%, exceeding SAR 19.94 billion, compared to SAR 207.55 billion at the end of March 2023.
