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Saudi foreign assets fall 3.1% in Q1 – SAMA

Saudi foreign assets fall 3.1% in Q1 – SAMA
Saudi foreign assets declined SAR 59.3 billion in Q1-18

Riyadh – Mubasher: Saudi Arabia's foreign assets dropped 3.1% year-on-year for the first quarter of 2018.

Saudi foreign assets declined SAR 59.3 billion in Q1-18, according to the Saudi Arabian Monetary Authority’s (SAMA) recent data.

On a quarterly basis, the kingdom’s overseas assets went down 0.7% or SAR 12.3 billion for the three-month period ended 31 March 2018.

Net foreign assets decreased 3.2% year-on-year in January - March period, and 0.7% quarter-on-quarter, the central bank's data showed.

In the same vein, the kingdom’s foreign reserves fell 3% year-on-year to SAR 57.3 billion in Q1-18.

Quarter-on-quarter, Saudi foreign reserves retreated 0.6% to SAR 1.85 trillion for the first three months of 2018.

The GCC nation's investments in international securities tumbled 2.7% to SAR 1.206 trillion in Q1-18, SAMA said.