Middle East Economic Survey

VOL. LIV

No 7

14-Feb-2011

SAUDI ARABIA

SAMA Adds $6.67Bn To Foreign Assets In December Due To High Oil Prices

The Saudi Arabian Monetary Agency (SAMA) added SR25bn ($6.67bn) to its reserves of foreign assets in December, taking them to SR1.65 trillion ($440bn), up 8.7% from year-end 2009, thanks to high oil prices averaging $89/B during that month, according to the latest Banque Saudi Fransi (BSF) Monetary Watch. Monetary indicators also looked positive. Still,...