Saudi Arabia's foreign currency reserves jump 7.2% to SR1.73 trillion in August

RIYADH — Saudi Arabia’s foreign currency reserves recorded an increase of 7.2 percent, reaching $462.15 billion (SR1.733 trillion) in August 2026 compared to $431.11 billion (SR1.616 trillion) in the same month of 2025, according to the latest data released by the Saudi Central Bank (SAMA).The data showed that foreign currency reserves stood at $463.65 billion (SR1.738 trillion) at the end of July 2026, reflecting a 0.32 percent decline compared to the previous month. According to the data, Saudi Arabia’s official reserve assets rose by 6.7 percent year-on-year at the end of August, reaching $487.31 billion (SR1.827 trillion), compared to $456.65 billion (SR1.712 trillion) in the same month of 2025.On a monthly basis, however, the Kingdom’s official reserve assets declined for the second consecutive month in August, falling by 0.27 percent, or $1.32 billion (SR4.96 billion), from their value at the end of July 2026, which stood at $488.63 billion (SR1.832 trillion). Reserve assets had reached $494.55 billion (SR1.854 trillion) at the end of June 2026.Saudi Arabia’s official reserve assets consist of monetary gold, Special Drawing Rights (SDRs), reserves held at the International Monetary Fund (IMF), and foreign currency reserves.The value of SDRs declined by approximately two percent year-on-year at the end of August, reaching $21.16 billion (SR79.37 billion), compared to $21.6 billion (SR81.01 billion) in the same month of the previous year.However, this figure represented an increase from July, when it stood at $21.01 billion (SR78.8 billion).The reserve position at the IMF rose to $3.56 billion (SR13.34 billion) in August 2026, reflecting a 1.4 percent increase compared to $3.51 billion (SR13.15 billion) in the same month of the previous year. The value of monetary gold remained stable at $433.07 million (SR1.624 billion) at the end of August 2026, according to the data.It is noteworthy that the 2026 Article IV Consultation report for Saudi Arabia, issued by the International Monetary Fund in late July, commended the Saudi banking sector for its robust levels of capital and liquidity, which enhance its ability to absorb the repercussions of current developments, along with the continued improvement in asset quality.The report noted that the non-performing loan ratio had declined to one percent of total loans, the lowest level recorded in the Kingdom in a decade. It also praised the central bank’s efforts to promote financial stability and mitigate risks through the implementation of its prudential policies.