Sunday, January 3, 2021

Saudi Arabia's Foreign Exchange Reserves Surge 2.3% -- January 3, 2021

Link here

This is pretty cool. This increase was reported as 2.3% late last week and that turns out to be accurate: 2.314488%:

Back of the envelope:

  • 1674841 million * 0.27 = $452.20707 billion
  • 1713605 million *0.27 =  $462.67335 billion
  • Delta, November over October: $10.46628 billion

Now, let's look at change in price of OPEC basket:

  • October 20, 2020: $41 but by the end of the month had dropped to $39;
  • November 15, 2020: $43 but by the end of the had jumped to $46

$2/bbl * 210 million bbls = $420 million. 

$7/bbl * 210 million bbls = $1.47 billion

2 comments:

  1. I'm assuming the foreign exchange reserves are invested. Guess there was a good stock picks. I believe that firms like Blackstone handle their money considering the size of Saudi reserves.

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