Saudi foreign reserves continue slide, lowest since April 2011:
"The Saudi Arabian central bank’s foreign reserves continued falling in September, standing at their lowest since April 2011, as the government drew them down to cover a budget deficit caused by low oil prices, central bank data showed on Sunday. The bank’s net foreign assets shrank by $2.4 billion from August to $477.6 billion, down 12.6 percent from a year earlier. They peaked at $737 billion in August 2014, before starting to drop in line with oil prices. Central bank governor Ahmed al-Kholifey said last week that the pace of the reserves’ fall had slowed over the past three years and that their current level was very comfortable."
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