Riyadh – Mubasher: Saudi Arabia's foreign reserve assets grew by 5.1% or SAR 84.49 billion ($22.53 billion) year-on-year (YoY) in July 2022.
The kingdom’s foreign reserve assets reached SAR 1.74 trillion ($464.05 billion) in July 2022, compared to SAR 1.65 trillion ($441.52 billion) in July 2021, according to the monthly statistical bulletin of the Saudi Central Bank (SAMA).
On a monthly basis, foreign reserve assets of the GCC state retreated by 0.57% SAR 9.91 billion ($2.64 billion) in July 2022 when compared to their level in June 2022 at SAR 1.75 trillion ($466.70 billion).
It is worth noting that total assets held by SAMA jumped by 8.47% on a yearly basis during July 2022 to SAR 2.01 trillion ($534.82 billion), compared to SAR 1.85 trillion ($493.05 billion).
In the meantime, net profits before Zakat and tax of banks operating in Saudi Arabia advanced by 54.25% on an annual basis in July 2022 to SAR 5.81 billion ($1.55 billion), compared to SAR 3.76 billion ($1 billion).
