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FinancialNews


  • 17-12-16

    Saudi SAMA's forex reserves to post SR2tr

    (MENAFN) According to Saudi Jadwa investment, Saudi Arabia"s financial system is still liquid and can provide room to finance both the public and private sectors, but with sentiment playing a key role.

    By the end of this year, Saudi Arabian Monetary Authority"s (SAMA) foreign exchange reserves are estimated to reach nearly SR1.961 trillion (USD523 billion), with lower net withdrawals over the remainder of 2016 as a result of the international bond issuance.

    However, this forecast was based on SAMA"s recent precautionary measures to secure the Saudi economy, such as introducing new 90-day repos and capping the weekly issuance of SAMA bills to SR3 billion.

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