Saudi Gazette - Saudi Arabia’s money supply climbs 11.4%

Saudi Arabia’s M3 money supply grew 11.4 percent on year in September, according to data released Saturday by the Kingdom’s central bank.

M3, the broadest measure of money supply and an indicator of future inflation, rose to SR1.31 trillion ($344 billion) in September, up from SR1.18 trillion a year earlier, and up from SR1.29 trillion in August, according to data posted on the website of the Saudi Arabian Monetary Agency.

The central bank’s net foreign assets reached SR2.4 trillion in September, the central bank said.

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