Saudi banks’ money supply surges 10% to reach $726bn in January
- Date: 03-Mar-2024
- Source: Arab News
- Sector:Financial Services
- Country:Saudi Arabia
Saudi banks’ money supply surges 10% to reach $726bn in January
RIYADH: Saudi Arabia’s money supply surged 10 percent in January to reach SR2.72 trillion ($726 billion), the central bank data showed.
The growth was primarily driven by a substantial rise in banks’ term and savings accounts, which recorded a rise of 31 percent to reach SR864.32 billion. The overall figure, however, also includes currency outside banks, demand deposits, and other quasi-money deposits. Saudi banks’ money supply surges 10% to reach $726bn in January