Saudi Net Reserves Fall to $410 Billion, Lowest Since 2010
Visitors looks out towards the city skyline from the skybridge of the Kingdom Center, in Riyadh, Saudi Arabia.
Photographer: Jeremy Suyker/BloombergThis article is for subscribers only.
Saudi Arabia’s foreign reserves fell in April to the lowest in more than 13 years, in an apparent sign the kingdom hasn’t yet used last year’s $326 billion oil windfall to top up the central bank’s holdings.
Net foreign assets fell to 1.538 trillion riyals ($410 billion) last month, according to the central bank’s monthly report published on Sunday, declining for a fifth month in the longest falling streak since early 2019. Reserves are down more than 44% since peaking in August 2014.