| Net foreign assets at Saudi Arabia's central bank dropped 1.7 percent from the previous month to 2.19 trillion riyals ($584 billion) in February, central bank data showed on Tuesday.
Assets fell 17.3 percent from a year earlier to their lowest level since May 2012. They reached a record high of $737 billion in August 2014 before starting to shrink. The central bank, which serves as Saudi Arabia's sovereign wealth fund, has been drawing down its assets to cover a huge state budget deficit caused by low oil prices...............................................Full Article: Source
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