Riyadh – Mubasher: Saudi Arabia's foreign reserves hiked to an eight-month high in November 2020, reaching SAR 1.713 trillion ($456.96 billion).

On a monthly basis, the kingdom’s foreign reserves increased by 2.3% or SAR 38.76 billion ($10.34 billion) when compared to their level in October at SAR 1.675 trillion ($446.62 billion), as shown by official data.

Year-on-year (YoY), the Saudi foreign reserves dropped by 8.6% or SAR 162.07 billion ($43.22 billion) in November when compared to SAR 1.876 trillion ($500.18 billion) in the prior-year month.

Year-to-date (YTD), the Gulf nation’s foreign reserves tumbled by 8.5% or SAR 159.81 billion ($42.61 billion) when compared to SAR 1.87 trillion ($499.58 billion) at the end of 2019.

In October, the foreign reserves went down by 8.7% yearly and 0.2% monthly.