SAMA’s net foreign assets reach $562 billion in June

SAMA’s net foreign assets reach $562 billion in June
Updated 30 July 2016

SAMA’s net foreign assets reach $562 billion in June

SAMA’s net foreign assets reach $562 billion in June

JEDDAH: Net foreign assets at Saudi Arabian Monetary Agency (SAMA) fell by $11 billion from the previous month to $562 billion in June as the government drew down its reserves to cover a budget deficit caused by low oil prices, official data showed on Thursday.
Assets shrank 15.9 percent from a year earlier to their lowest level since early 2012. They reached a record high of $737 billion in August 2014 before starting to drop.