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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

Saudi c.bank net foreign assets fall 2.4 pct in January

Posted on 29 February 2016

Net foreign assets at Saudi Arabia’s central bank dropped 2.4 percent from the previous month to 2.23 trillion riyals ($594.6 billion) in January, central bank data showed on Sunday.
Assets fell 18.2 percent from a year earlier to their lowest level since late 2012. They reached a record high of $737 billion in August 2014 before starting to shrink. The central bank, which acts 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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