Saudi Arabia Foreign Exchange Reserves -- Lower For Longer -- July, 2020

Link here.

Posted by Trading Economics, overnight, September 4 - 5, 2020.

Remember: July was a "good" month for Saudi Arabia. Early reports suggest that August, 2020, will be much worse. 

Dollar conversion: multiply SAR in millions by 0.27 to get reserve equivalent in dollars. If your number is in the $450 billion range, you typed in the correct number of zeros.

Forecast: foreign exchange reserves in Saudi Arabia is expected to be 1660297 SAR million by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

Looking forward, we estimate Foreign Exchange Reserves in Saudi Arabia to stand at 1519797 SAR million in 12 months time. In the long-term, the Saudi Arabia Foreign Exchange Reserves is projected to trend around 1519797 SAR million in 2021 and 1330106 SAR million in 2022, according to our econometric models.

History:

Foreign exchange reserves in Saudi Arabia averaged 2125232.14 SAR million from 2010 until 2020, reaching an all-time high of 2796941 SAR million in August of 2014 and a record low of 1569145 SAR million in April of 2010.

Date	Comment	SAR Million	US Dollars
April 2010	Record low	1569145	423,669,150
August 2014	All-time high	2796941	755,174,070
August 2019	Actual	1900000	513,000,000
June 2020	Actual	1677864	453,023,280
July 2020	Actual	1679963	453,590,010
September 2020	Forecast	1660297	448,280,190
June 2021	Forecast	1519797	410,345,190
June 2021	Forecast	1519797	410,345,190
June 2022	Forecast	1330106	359,128,620
Saudi Aramco Div	Annual	277778	75,000,060
	Monthly	23148	6,250,005

Note:

• the all-time low was 1569145 SAR million in April, 2010
• Trading Economics is projecting that the reserves will drop to 1519797 SAR million one year from now
• further, Trading Economics is projected the reserves will drop to 1330106 SAR million two years from now

For confirmation of these dollar amounts, see this link.

Saudi Arabia's Foreign Exchange Reserves was measured at 435.8 USD bn in Jun 2020, compared with 437.8 USD bn in the previous month. 

Saudi Arabia's Foreign Exchange Reserves: USD mn data is updated monthly, available from Jan 2001 to Jun 2020. The data reached an all-time high of 731.2 USD bn in Aug 2014 and a record low of 37.4 USD bn in Sep 2002. 

CEIC calculates monthly Foreign Exchange Reserves as the sum of Foreign Currency Reserves and Deposits Abroad, and Investment in Foreign Securities and converts it into USD. Saudi Arabian Monetary Authority provides Foreign Exchange Reserves in local currency. Saudi Arabian Monetary Authority average market exchange rate is used for currency conversions. In the latest reports,

Saudi Arabia's Foreign Exchange Reserves equaled 38.3 Months of Import in Dec 2019. 

Its Money Supply M2 increased 9.9 % YoY in Jun 2020. The country's Non Performing Loans Ratio stood at 2.0 % in Dec 2018, compared with the ratio of 1.6 % in the previous year.

Also, see this very, very long, dated June 1, 2020.

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From this week's top stories:

Top international non-energy story:

• Saudi Aramco resets;
• Saudi Arabia's problems worsen;

Top international energy story:

• Saudi Aramco shelves $20 billion petrochemical plant;
• Saudi Arabia slows diversification; short on cash; foreign exchange reserves posted;
  
• Saudi Arabia cutting crude oil deliveries to the US;
• Saudi oil shipments plunge to 35-year low;
• Chinese and Saudi oil giants book mammoth losses;