SAMA Reports A 5.5% Increase In Reserve Assets To SAR1.754 Trillion In Second Quarter Of 2024

The Saudi Central Bank (SAMA) saw its reserve assets grow by 5.5% annually, increasing by about SAR92,049 billion. By the end of the second quarter of 2024, these assets totalled SAR1.754 trillion, up from SAR1.662 trillion in the same period the previous year.

According to SAMA's June statistical bulletin, reserve assets reached their highest levels by the end of June 2024. They recorded a quarterly growth of 2.7%, rising approximately SAR46,724 billion from the first quarter's SAR1.707 trillion. Additionally, there was a monthly increase of 0.1%, adding around SAR1.146 billion.

From January to June 2024, reserve assets grew by 6.6%, an increase of about SAR107,986 billion. At the start of the year, they stood at SAR1.646 trillion.

Components of Reserve Assets

SAMA's reserve assets comprise five main components: Investments in Foreign Securities, Foreign Currency and Deposits Abroad, Special Drawing Rights (SDRs), Reserve Position in the International Monetary Fund (IMF), and Monetary Gold.

Investments in Foreign Securities accounted for around SAR1.015 trillion or 58% of the total by the end of Q2 2024. Foreign Currency and Deposits Abroad made up approximately SAR646,285 billion or 37%.

Special Drawing Rights (SDRs) were valued at SAR77,238 billion, representing about 4% of the total reserve assets. The Reserve Position in the IMF stood at SAR13,331 billion.

Monetary Gold was valued at SAR1,624 billion.

This data highlights SAMA's robust financial position and its strategic management of reserve assets.

With inputs from SPA