Saudi foreign assets soar to record $716bn
Riyadh, February 1, 2014
Saudi Arabia's central bank said its net foreign assets surged to a record high of SR2.688 trillion ($716.7 billion) in December, up 10.7 per cent from a year ago
The kingdom's central bank said the M3 money supply growth slowed to 10.9 per cent year-on-year at the end of December from 13.5 per cent in the previous month, stated the data.
The bank lending growth to the private sector also decelerated to 12.5 per cent in December, the weakest clip since February 2012, from 13.8 per cent in November, it added.-Reuters