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Saudi sees slow money supply growth

Riyadh, February 26, 2012

Saudi Arabia's M3 money supply growth accelerated to 13.6 per cent year-on-year at the end of January from 13.3 per cent in the previous month, central bank data showed on Sunday.

The Kingdom's bank lending to the private sector rose 11.7 per cent in January, its fastest growth rate since May 2009, and up from 10.6 per cent in December 2011.

The central bank's net foreign assets reached a record high of SR2 trillion ($541.3 billion), the data also showed.-Reuters




Tags: Saudi | money supply | growth |

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