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Saudi money supply growth hits new low

Riyadh, June 26, 2012

Saudi Arabia's M3 money supply growth eased to a 17-month low of 7.7 per cent year-on-year at the end of May, after an 8 per cent rise in the previous month, central bank data showed on Tuesday.

Bank lending to the private sector decelerated slightly to 13 per cent in May from a three-year high of 13.3 per cent in the previous month. The central bank's net foreign assets reached a record high of SR2.19 trillion ($583 billion), the data also showed.-Reuters




Tags: Saudi | money supply |

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