Riyadh – Mubasher: Saudi Arabia's foreign reserves increased by 2% year-on-year in November 2018.

The kingdom’s international reserves grew to SAR 1.891 trillion ($504.27 billion) by the end of the November, up from SAR 1.854 trillion ($494.4 billion) a year earlier, the Saudi Arabian Monetary Authority’s (SAMA) monthly report revealed.

Month-on-month, Saudi reserves inched down 0.04% to SAR 1.892 trillion last month, compared to October.

The SAMA’s report noted that foreign cash and deposits abroad went up 12.1% to SAR 654.75 billion ($174.6 billion) in November, compared to SAR 583.91 billion ($155.7 billion) in the same month the previous year.

Meanwhile, the value of investments in international securities dropped by 2.8% to hit SAR 1.199 trillion ($319.73billion) last month, against SAR 1.233 trillion ($328.8 billion) in the year-ago period.

Saudi reserves at the International Monetary Fund (IMF) levelled up to SAR 6.63 billion in the previous month, from SAR 6.09 billion in the comparative period in 2017.