Saudi foreign reserves top $500bn for first time - ArabianBusiness.com

Saudi Arabia’s foreign reserves surpassed $500 billion for the first time in July, giving the biggest Arab economy scope to carry out its spending plans to foment growth and weather any potential drop in oil prices.

Total reserves assets increased to SR1.90 trillion ($506 billion) from SR1.86 trillion in the previous month, according to data posted on the Saudi Arabian Monetary Agency’s website.

Foreign currency and deposits abroad rose 1.3 percent to SR493 million, while investments in foreign securities climbed 1.9 percent to SR1.3 billion.

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