Saudi foreign reserves rose 1.7% in March to $449b

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Riyadh

Saudi Arabia’s foreign reserves increased by 1.7 percent month over month in March to SR1.683 trillion ($448.9 billion), according to data from the country’s central bank, the Saudi Arabian Monetary Authority. Reserves were 5 percent lower from a year earlier, SAMA said.

Investments in foreign securities edged up 0.2 percent month over month to SR1.124 trillion, while foreign exchange and deposits abroad rose 5.7 percent to SR513.6 billion.

The reserve position at the IMF decreased by 3.6 percent month over month to SR12.99 billion, while special drawing rights fell 2 percent to SR30.97 billion and gold was SR1.62 billion.—AN

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