Saudi Arabia’s official reserve assets rose to SR1.72 trillion ($459 billion) in May, marking a 4.5% increase from the previous month, according to data from the Saudi Central Bank (SAMA).
The sharp monthly rise was driven primarily by a 15.5% surge in foreign currency deposits held abroad, which reached SR671.27 billion—the highest level in nearly six years. This shift suggests a strategic move toward more liquid assets, enhancing the Kingdom’s financial flexibility.
Meanwhile, investments in foreign securities, the largest component of reserves, fell 2% month-on-month to SR955 billion. Together, deposits and securities made up 94.5% of total reserves in May.
Despite the monthly boost, reserves were still 2% lower compared to May 2024, reflecting broader global market fluctuations, rising imports for mega projects, and evolving oil market dynamics.
Saudi Arabia’s monetary gold holdings remained unchanged at SR1.62 billion, while Special Drawing Rights (SDRs) stood at SR80.16 billion, and the Kingdom’s IMF reserve position totaled SR12.65 billion.
According to Fitch Ratings, Saudi Arabia’s reserves could cover 14.4 months of imports, well above the average for similarly rated countries. The Kingdom’s net foreign assets stood at 63.7% of GDP, compared to an average of 8.7% for other “A”-rated nations, underscoring its strong financial cushion.
The reserve growth highlights Saudi Arabia’s continued resilience amid Vision 2030 reforms, supporting currency stability and long-term investment ambitions.