Saudi c.bank's foreign securities holdings fall as Riyadh mobilises funds | ZAWYA MENA Edition:
"The foreign securities holdings of Saudi Arabia's central bank fell sharply in January in a sign that the government may be mobilising money for investment projects this year, official data showed on Wednesday.
After rising for three straight months, the bank's net foreign assets edged down to $486.7 billion last month from $488.9 billion in December. They shrank by 5.8 percent from a year earlier.
The government has been gradually liquidating the reserves, which peaked at $737 billion in August 2014, to cover a budget deficit caused by low oil export receipts. The vast majority of the assets are believed to be denominated in U.S. dollars."
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